Two-Story Office Building with Multi-Tenant
For Sale
$849,999
Pending
200 N THORNTON AVENUE, Orlando, FL 32801
Two-story office building with private offices, collaborative workspaces, and four second-floor HVAC systems.
Property Size2,613 SF
Days on Market45
Property Features for 200 N THORNTON AVENUE
General Information
Standard status
Pending
Size
2,613 SF
Total Parking Spaces
10
Property subtype
Office
Additional Details
Public Transit
Yes
Amenities
0.21 acres, City Limits, Neighbourhood, Street Lights, Trees/Landscaped
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 25-22-29-8640-01-080, Public Survey Range: 29, Public Survey Section: 25, Annual Amount: $10,834.4, Tax Block: 01, Tax Book Number: 8640, Legal Description: THORNTON PARK E/24 THAT PART OF LOTS 8 & 10 LYING W OF THORNTON ST BLK A, Lot: 080, Year: 2025
Central Air
Listing ID: MFRO6428537, Standard Status: Pending, MLS Status: Pending, Property Subtype: Office, On market as of 2026-07-28, Off market as of 2026-08-21, 24 days on market, Special Conditions: None
Built in 1986, Living area units: Square Feet, Building faces Southeast, Levels: Two, Construction Materials: Block, Concrete, Stucco
MLS Area (Major): 32801 - Orlando, County/Parish: Orange
BB/HS Internet Capable, Electricity Available, Public, Water Connected, Water Source: Public
Slab
Frontage Type: City Street, Road Responsibility: Public Maintained Road, Road Surface: Brick
Building Details
Year Built
1986
Buildings
1
Stories
2
Construction
poured concrete
Listing Agency:
OLDE TOWN BROKERS INC
(407) 425-5069
Listed By:
Parker Blanchard · License #3460165
(407) 802-7337
Source:
Miharaandassociates
Added: Jul 28
Changed: Sep 9
Last Checked: Sep 9 at 6:07AM
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 OLDE TOWN BROKERS INC
Investment Insights
Based on property information with market context.
This two-story office building offers a flexible interior layout designed for multiple occupancy configurations. Spaces include private offices, open collaborative work areas, conference areas, and an executive suite with its own full bathroom. The building is supported by durable poured concrete walls and includes a reserved elevator shaft for a potential future elevator installation. Separate electrical systems provide additional flexibility, with four dedicated systems in total: one serving the first floor and three serving the second.
On-site convenience includes 10 dedicated parking spaces. The building has four HVAC systems, with the upstairs unit recently replaced, and it features an approximately eight-year-old roof. Constructed in 1986, the property is positioned in Thornton Park with convenient access to major roadways, SunRail, Downtown Orlando, and Orlando International Airport.
The layout and utility separation make the building well suited for owner-users or businesses evaluating multi-tenant office use.
On-site convenience includes 10 dedicated parking spaces. The building has four HVAC systems, with the upstairs unit recently replaced, and it features an approximately eight-year-old roof. Constructed in 1986, the property is positioned in Thornton Park with convenient access to major roadways, SunRail, Downtown Orlando, and Orlando International Airport.
The layout and utility separation make the building well suited for owner-users or businesses evaluating multi-tenant office use.
Key Highlights
- Poured concrete walls and reserved elevator shaft for potential future elevator installation
- Four separate electrical systems: one for the first floor and three for the second
- Two‑story office layout with private offices, collaborative workspaces, conference areas, and an executive suite
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
$48,798
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
5.74%
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%
$975,960
$976.0K
Cap Rate 7%
$697,114
$697.1K
Cap Rate 9%
$542,200
$542.2K
Market Conditions
NOI Build-Up for 2,613 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
$78.4K $30.00/SF
− Vacancy
−$13.3K −$5.10/SF
EGI
$65.1K $24.90/SF
− OpEx
−$16.3K −$6.23/SF
NOI
$48.8K $18.67/SF
Area
Orlando, FL
Vacancy
17.00%
Lease Rate
$30.00 /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%
$975,960
Cap Rate 7%
$697,114
Cap Rate 9%
$542,200
Alternative Uses
Best Use
Office B
$697.1K
$610.0K – $813.3K
NOI $48,798 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$841.7K
$736.5K – $982.0K
NOI $58,922 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,324
Businesses Nearby
Explore this area
Business Placement
Demographics for 32801, FL
17,728
Population
12,133
Households
1.5
Avg Household Size
36
Median Age
63%
College-Educated
95%
High-School Grad
2.2 sq mi
ZIP Area
8,058
Density / Sq Mi
$77,626
Median Household Income
$63,090
Median Earnings
$1,773
Median Rent
$397,600
Median Home Value
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Market
Vacancy Rate% for Office in Orlando, FL
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with private offices, collaborative workspaces, and four second-floor HVAC systems.
Where is this office building located?
The property is located at 200 N THORNTON AVENUE Orlando, FL.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: Poured concrete walls and reserved elevator shaft for potential future elevator installation; Four separate electrical systems: one for the first floor and three for the second; Two‑story office layout with private offices, collaborative workspaces, conference areas, and an executive suite
