Winter Park Duplex-Style Office
For Sale
$875,000
2445 LEE ROAD, Winter Park, FL 32789
Renovated duplex-style office building in Winter Park with flexible layout.
Property Size2,456 SF
Lot Size0.25 Acres
Price / SF$356.27
Days on Market650
Property Features for 2445 LEE ROAD
General Information
Standard status
Active
Size
2,456 SF
Lot size
0.25 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$8,317
Building Details
Year Built
1957
Listing Agency:
COLDWELL BANKER RESIDENTIAL RE
(407) 748-1242
Listed By:
Nohora Gomez · License #3242327
(407) 748-1242
Source:
Exitrealty
Added: Oct 30, 2024
Changed: Aug 8
Last Checked: Aug 10 at 5:01AM
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 COLDWELL BANKER RESIDENTIAL RE
Investment Insights
Based on property information with market context.
This renovated, one-story, duplex-style building is located in Winter Park, close to I-4. It offers two separate office suites, each with its own entrance and a welcoming reception area. Each suite includes three private offices, a spacious meeting room, bathrooms, and a kitchenette, providing a flexible and functional layout suitable for various professional needs. The property features stylish finishes and high-quality materials throughout. With low maintenance, no HOA, and 11 dedicated parking spaces, it is designed for convenience. The property offers the option to occupy one suite and rent the other, or convert it into a full investment property. The building has a total size of 2456 square feet.
Key Highlights
- Prime commercial location in the heart of Winter Park, close to I‑4.
- Fully renovated, duplex‑style building with two separate office suites.
- Each suite includes three private offices, a meeting room, bathrooms, and a kitchenette.
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
$36,693
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
4.19%
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%
$733,860
$733.9K
Cap Rate 7%
$524,186
$524.2K
Cap Rate 9%
$407,700
$407.7K
Market Conditions
NOI Build-Up for 2,456 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
$58.9K $24.00/SF
− Vacancy
−$10.0K −$4.08/SF
EGI
$48.9K $19.92/SF
− OpEx
−$12.2K −$4.98/SF
NOI
$36.7K $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%
$733,860
Cap Rate 7%
$524,186
Cap Rate 9%
$407,700
Alternative Uses
Best Use
Office B
$524.2K
$458.7K – $611.6K
NOI $36,693 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$698.9K
$611.6K – $815.4K
NOI $48,924 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,457
Businesses Nearby
Explore this area
Business Placement
Demographics for 32789, FL
26,399
Population
12,945
Households
2
Avg Household Size
44
Median Age
63%
College-Educated
98%
High-School Grad
7.8 sq mi
ZIP Area
3,384
Density / Sq Mi
$100,213
Median Household Income
$65,652
Median Earnings
$1,667
Median Rent
$695,000
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 - Renovated duplex-style office building in Winter Park with flexible layout.
Where is this office units located?
The property is located at 2445 LEE ROAD Winter Park, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Prime commercial location in the heart of Winter Park, close to I‑4.; Fully renovated, duplex‑style building with two separate office suites.; Each suite includes three private offices, a meeting room, bathrooms, and a kitchenette.
