Renovated Triplex With Additional
For Sale
$760,000
2008 PAGE AVE, Orlando, FL 32806
Updated residential income property with a separate-entry rear unit, stainless steel appliances, and refreshed interior finishes.
Property Size1,934 SF
Days on Market179
Property Features for 2008 PAGE AVE
General Information
Standard status
Active
Size
1,934 SF
Property subtype
Triplex
Additional Details
Furnished
No
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,531
Building Details
Building Size
1,934 SF
Year Built
1946
Listing Agency:
LPT REALTY, LLC
(321) 821-8446
Listed By:
Andres Ospina Rivera · License #3293879
Source:
Novaorlando
Added: Feb 21
Changed: Aug 15
Last Checked: Aug 18 at 4:54AM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This triplex property was built in 1946 and includes a five-bedroom, three-bathroom main residence with an additional rear unit or in-law suite. The secondary space has its own entrance, providing separate access from the primary home. Interior improvements include upgraded appliances, stainless steel appliances in the kitchen, sleek countertops, updated flooring, and ample kitchen storage. The property is offered furnished, with furniture handled separately.
Located in Orlando’s Belle Isle neighborhood, the property is minutes from downtown Orlando and provides access to major highways, shopping, dining, and local attractions. Seller financing is available.
Located in Orlando’s Belle Isle neighborhood, the property is minutes from downtown Orlando and provides access to major highways, shopping, dining, and local attractions. Seller financing is available.
Key Highlights
- Five‑bedroom, three‑bathroom main residence
- Additional rear unit or in‑law suite with separate entrance
- Renovated interior with upgraded appliances, countertops, and flooring
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
$27,438
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
3.61%
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%
$548,760
$548.8K
Cap Rate 7%
$391,971
$392.0K
Cap Rate 9%
$304,867
$304.9K
Market Conditions
NOI Build-Up for 1,934 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
$41.8K $21.60/SF
− Vacancy
−$2.6K −$1.33/SF
EGI
$39.2K $20.27/SF
− OpEx
−$11.8K −$6.08/SF
NOI
$27.4K $14.19/SF
Area
Orlando, FL
Vacancy
6.17%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$548,760
Cap Rate 7%
$391,971
Cap Rate 9%
$304,867
Alternative Uses
Best Use
Multifamily LT 5
$392.0K
$343.0K – $457.3K
NOI $27,438 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$358.0K
$313.3K – $417.7K
NOI $25,063 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$623.0K
$545.1K – $726.9K
NOI $43,611 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
Explore this area
Business Placement
Demographics for 32806, FL
26,582
Population
12,529
Households
2.1
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
6.8 sq mi
ZIP Area
3,909
Density / Sq Mi
$86,653
Median Household Income
$54,012
Median Earnings
$1,500
Median Rent
$415,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Updated residential income property with a separate-entry rear unit, stainless steel appliances, and refreshed interior finishes.
Where is this triplex located?
The property is located at 2008 PAGE AVE Orlando, FL.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Five‑bedroom, three‑bathroom main residence; Additional rear unit or in‑law suite with separate entrance; Renovated interior with upgraded appliances, countertops, and flooring
