Ground-Floor Retail
For Sale
Contact for pricing
2305 Edgewater Drive, Orlando, FL 32804
Neighborhood retail component with 95% leased occupancy, garage parking, and additional street parking.
Property Size19,827 SF
Price / SF$565.89
Days on Market57
Property Features for 2305 Edgewater Drive
General Information
Standard status
Active
Size
19,827 SF
Class
A
Total Parking Spaces
98
Property subtype
Retail
Occupancy
95%
Lease Type
NNN
Investment Type
Stabilized
Additional Details
Floor
Ground
Road Access
Yes
Building Details
Year Built
2007
Stories
7
Units
7
Tenancy
Multi
Listing Agency:
CBRE - Orlando
Listed By:
Daniel Baker · License #FL BK451471
Source:
Crexi
Added: Aug 18
Changed: Oct 7
Last Checked: Oct 12 at 7:06PM
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 CBRE - Orlando
Investment Insights
Based on property information with market context.
The Wellesley includes 19,827 square feet of ground-floor retail condominium space within a 7-story residential condominium project completed in 2007. The property is 95% leased and accommodates a mix of neighborhood retail and service providers serving daily needs.
Located on Edgewater Drive between West Smith Street and Vassar Street in Orlando’s College Park neighborhood, the property benefits from signalized intersections at both cross streets. Designated off-street garage parking is complemented by street parking, supporting access for both automobile and pedestrian traffic. Its position just north of Downtown Orlando places the retail component within an established urban neighborhood.
Located on Edgewater Drive between West Smith Street and Vassar Street in Orlando’s College Park neighborhood, the property benefits from signalized intersections at both cross streets. Designated off-street garage parking is complemented by street parking, supporting access for both automobile and pedestrian traffic. Its position just north of Downtown Orlando places the retail component within an established urban neighborhood.
Key Highlights
- 19,827‑square‑foot ground‑floor retail condominium
- 95% leased retail property
- Built in 2007 as part of the 7‑story Wellesley Condominium project
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$389,340
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,786,800
$7.8M
Cap Rate 7%
$5,562,000
$5.6M
Cap Rate 9%
$4,326,000
$4.3M
Market Conditions
NOI Build-Up for 19,827 SF
Gross rent
$575.8K $29.04/SF
− Vacancy
−$19.6K −$0.99/SF
EGI
$556.2K $28.05/SF
− OpEx
−$166.9K −$8.42/SF
NOI
$389.3K $19.64/SF
Area
Orlando, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,786,800
Cap Rate 7%
$5,562,000
Cap Rate 9%
$4,326,000
Alternative Uses
Best Use
Retail
$5.56M
$4.87M – $6.49M
NOI $389,340 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.39M
$5.59M – $7.45M
NOI $447,088 @ 7.0% cap · market cap 3.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
985
Businesses Nearby
121k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 28%
Groceries 28%
Beauty & Spa 3%
Publix
Groceries
34,067 visits/mo
0.2 miles
Dollar Tree
Shops & Services
17,591 visits/mo
0.5 miles
Starbucks
Dining
10,938 visits/mo
0.3 miles
Tijuana Flats
Dining
6,002 visits/mo
0.1 miles
The UPS Store
Shops & Services
5,869 visits/mo
0.2 miles
Demographics for 32804, FL
19,084
Population
10,127
Households
1.9
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
7.2 sq mi
ZIP Area
2,651
Density / Sq Mi
$113,466
Median Household Income
$61,227
Median Earnings
$1,717
Median Rent
$498,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Orlando, FL
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Frequently Asked Questions
What type of property is this?
Retail space - Neighborhood retail component with 95% leased occupancy, garage parking, and additional street parking.
Where is this retail space located?
The property is located at 2305 Edgewater Drive Orlando, FL.
What is the asking price?
The asking price for this property is $11,220,000.
What are key features of this property?
This property features: 19,827‑square‑foot ground‑floor retail condominium; 95% leased retail property; Built in 2007 as part of the 7‑story Wellesley Condominium project
