Lake Mary Office Space
For Sale
$155,000
2500 W LAKE MARY BOULEVARD #213, Lake Mary, FL 32746
Well-maintained office space near downtown Lake Mary, suitable for professionals.
Property Size723 SF
Price / SF$214.38
Days on Market515
Property Features for 2500 W LAKE MARY BOULEVARD #213
General Information
Standard status
Active
Size
723 SF
Taxes and HOA fees
Annual Taxes
$1,812
Building Details
Year Built
1989
Listing Agency:
EAST PEARL REALTY
Listed By:
JUN JIE ZHAO
Source:
Corcoran
Added: Apr 22, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 EAST PEARL REALTY
Investment Insights
Based on property information with market context.
This 723-square-foot office space is located near downtown Lake Mary, offering convenient access to retail stores and restaurants. The property is suitable for law firms, brokerages, and other professional office uses. It features pylon signage on Lake Mary Boulevard and benefits from strong demographics in the surrounding area. The office space is in excellent condition.
Key Highlights
- Excellent condition office space, ready for your business.
- Close proximity to downtown Lake Mary.
- Walking distance to retail stores and restaurants.
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
$10,802
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
6.97%
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%
$216,040
$216.0K
Cap Rate 7%
$154,314
$154.3K
Cap Rate 9%
$120,022
$120.0K
Market Conditions
NOI Build-Up for 723 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
$17.4K $24.00/SF
− Vacancy
−$2.9K −$4.08/SF
EGI
$14.4K $19.92/SF
− OpEx
−$3.6K −$4.98/SF
NOI
$10.8K $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%
$216,040
Cap Rate 7%
$154,314
Cap Rate 9%
$120,022
Alternative Uses
Best Use
Office B
$154.3K
$135.0K – $180.0K
NOI $10,802 @ 7.0% cap · market cap 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$205.7K
$180.0K – $240.0K
NOI $14,402 @ 7.0% cap · market cap 9.29%
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
965
Businesses Nearby
Explore this area
Business Placement
Demographics for 32746, FL
45,828
Population
20,204
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
97%
High-School Grad
21.1 sq mi
ZIP Area
2,172
Density / Sq Mi
$111,534
Median Household Income
$55,860
Median Earnings
$1,912
Median Rent
$420,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained office space near downtown Lake Mary, suitable for professionals.
Where is this office units located?
The property is located at 2500 W LAKE MARY BOULEVARD #213 Lake Mary, FL.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Excellent condition office space, ready for your business.; Close proximity to downtown Lake Mary.; Walking distance to retail stores and restaurants.
