Historic Downtown Sanford Commercial
For Sale
$3,690,000
201 W 1ST St, Sanford, FL 32771
Restaurant, retail, and office spaces in desirable downtown location.
Property Size15,682 SF
Lot Size0.37 Acres
Days on Market142
Property Features for 201 W 1ST St
General Information
Standard status
Active
Size
15,682 SF
Lot size
0.37 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,310
Building Details
Building Size
15,682 SF
Year Built
1920
Stories
2
Listing Agency:
(407) 790-8154
Listed By:
Mounib Moussa
(407) 790-8154
Source:
Elliman
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 8 at 2:35PM
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 Mounib Moussa
Investment Insights
Based on property information with market context.
Located in the heart of Historic Downtown Sanford, Florida, this property presents a rare opportunity to establish a business in a highly desirable location. The available spaces are suitable for restaurant, retail, and office uses. The property is situated among brick-lined streets, charming storefronts, award-winning restaurants, and thriving local businesses. Downtown Sanford attracts locals and visitors alike with its craft breweries, gastropubs, art galleries, boutique shops, and entertainment venues. The scenic Sanford RiverWalk, offering waterfront views along Lake Monroe, is just steps away. The district hosts year-round events, street festivals, farmers' markets, and live entertainment, contributing to strong foot traffic and a dynamic atmosphere for businesses. More than 50 offices ranging from 200 square feet to 500 square feet are available. A break room and waiting area are available for common use.
Key Highlights
- Prime "Main & Main" location in Historic Downtown Sanford.
- High foot traffic due to year‑round events, festivals, and entertainment.
- Proximity to award‑winning restaurants, craft breweries, and boutique shops.
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
$234,289
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
6.35%
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%
$4,685,780
$4.7M
Cap Rate 7%
$3,346,986
$3.3M
Cap Rate 9%
$2,603,211
$2.6M
Market Conditions
NOI Build-Up for 15,682 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
$376.4K $24.00/SF
− Vacancy
−$64.0K −$4.08/SF
EGI
$312.4K $19.92/SF
− OpEx
−$78.1K −$4.98/SF
NOI
$234.3K $14.94/SF
Area
Seminole 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%
$4,685,780
Cap Rate 7%
$3,346,986
Cap Rate 9%
$2,603,211
Alternative Uses
Best Use
Office B
$3.35M
$2.93M – $3.90M
NOI $234,289 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.46M
$3.90M – $5.21M
NOI $312,385 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 32771, FL
57,178
Population
24,062
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
37.5 sq mi
ZIP Area
1,525
Density / Sq Mi
$74,520
Median Household Income
$43,321
Median Earnings
$1,584
Median Rent
$332,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Restaurant, retail, and office spaces in desirable downtown location.
Where is this office units located?
The property is located at 201 W 1ST St Sanford, FL.
What is the asking price?
The asking price for this property is $3,690,000.
What are key features of this property?
This property features: Prime "Main & Main" location in Historic Downtown Sanford.; High foot traffic due to year‑round events, festivals, and entertainment.; Proximity to award‑winning restaurants, craft breweries, and boutique shops.
