Freestanding Professional Office
For Sale
$695,500
1977 DUNDEE DRIVE, Winter Park, FL 32792
Free-standing O-2 office building on a corner lot with five office areas, two private entrances, and ample on-site parking.
Property Size1,808 SF
Price / SF$384.68
Days on Market411
Property Features for 1977 DUNDEE DRIVE
General Information
Standard status
Active
Size
1,808 SF
Property subtype
Office
Zoning
O-2
Additional Details
Fenced Yard
Yes
Office Units
5
Taxes and HOA fees
Annual Taxes
$9,671
Amenities
five office areas
large front entry
two private entrances
two baths
small kitchen
original hardwood floors
fenced in backyard
Central Air
3
Corner Lot.
Paved Driveway.
Corner, City Road, Paved Road.
Building Details
Year Built
1955
Listing Agency:
HOMEVEST REALTY
(407) 897-5400
Listed By:
Janice Cullity · License #493532
(407) 376-4010
Source:
Xome
Added: Jul 23, 2025
Changed: Sep 1
Last Checked: Sep 5 at 4:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HOMEVEST REALTY
Investment Insights
Based on property information with market context.
This free-standing professional office building is zoned O-2 and set on a spacious corner lot. The current interior layout includes five office areas, a large front entry that can be divided, two private entrances, two bathrooms, a small kitchen, and original hardwood floors. Additional features include a fenced backyard.
The property is located in the heart of Winter Park within a two-block district of small business offices, including medical, financial, and fitness uses. It also sits within walking distance to Advent Health, as well as nearby restaurants, shops, and Ward Park, a 66.4-acre sports complex with the Loch Lomond Trail. Rollins College and Park Avenue are also described as being just minutes away.
Parking is available both on-site and along the street, supporting convenient access for employees and visitors.
The property is located in the heart of Winter Park within a two-block district of small business offices, including medical, financial, and fitness uses. It also sits within walking distance to Advent Health, as well as nearby restaurants, shops, and Ward Park, a 66.4-acre sports complex with the Loch Lomond Trail. Rollins College and Park Avenue are also described as being just minutes away.
Parking is available both on-site and along the street, supporting convenient access for employees and visitors.
Key Highlights
- Free‑standing professional office building zoned O‑2
- Five office areas with large front entry that can be divided
- Two private entrances plus 2 baths and a small kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,012
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$540,240
$540.2K
Cap Rate 7%
$385,886
$385.9K
Cap Rate 9%
$300,133
$300.1K
Market Conditions
NOI Build-Up for 1,808 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$43.4K $24.00/SF
− Vacancy
−$7.4K −$4.08/SF
EGI
$36.0K $19.92/SF
− OpEx
−$9.0K −$4.98/SF
NOI
$27.0K $14.94/SF
Area
Orange County, FL
Vacancy
17.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$540,240
Cap Rate 7%
$385,886
Cap Rate 9%
$300,133
Alternative Uses
Best Use
Office B
$385.9K
$337.7K – $450.2K
NOI $27,012 @ 7.0% cap · market cap 3.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$514.5K
$450.2K – $600.3K
NOI $36,015 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,490
Businesses Nearby
Explore this area
Business Placement
Demographics for 32792, FL
51,376
Population
24,169
Households
2.1
Avg Household Size
36
Median Age
42%
College-Educated
91%
High-School Grad
12.1 sq mi
ZIP Area
4,246
Density / Sq Mi
$66,176
Median Household Income
$39,326
Median Earnings
$1,612
Median Rent
$343,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Free-standing O-2 office building on a corner lot with five office areas, two private entrances, and ample on-site parking.
Where is this office building located?
The property is located at 1977 DUNDEE DRIVE Winter Park, FL.
What is the asking price?
The asking price for this property is $695,500.
What are key features of this property?
This property features: Free‑standing professional office building zoned O‑2; Five office areas with large front entry that can be divided; Two private entrances plus 2 baths and a small kitchen
