Apopka Retail Building For
For Sale
$2,310,000
Pending
2865 OCOEE APOPKA Rd 3, Apopka, FL 32703
Shell retail building in mixed-use development, customizable interior.
Property Size6,392 SF
Lot Size0.23 Acres
Days on Market172
Property Features for 2865 OCOEE APOPKA Rd 3
General Information
Standard status
Pending
Size
6,392 SF
Lot size
0.23 Acres
Property subtype
Commercial
Building Details
Building Size
6,392 SF
Year Built
2025
Stories
1
Listing Agency:
THE MARKS GROUP REALTY, LLC
(352) 432-8678
Listed By:
Wyatt Marks · License #3135582
(352) 432-8678
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Jul 29 at 1:29PM
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 THE MARKS GROUP REALTY, LLC
Investment Insights
Based on property information with market context.
Located in Apopka's East Shore, Building #03 at Lake Carter Exchange is available for purchase. This dark gray shell retail building offers a customizable interior. It features a shared patio space and an end-unit dedicated patio space. The shell delivery allows for flexible interior design, with three front entrances accommodating up to three suites. The mixed-use development is situated at the intersection of Ocoee-Apopka Road and W Keene Road, less than one mile from Advent Health’s seven-story, 120-bed hospital and opposite a new Publix Supermarket development. The property is located in the East Shore trade area, which includes 5,000 planned residences and an average household income above $100k. This Class A property is positioned for businesses targeting growth in Central Florida’s second-fastest-growing city. The property is under construction.
Key Highlights
- Located in Apopka's East Shore, Central Florida's second‑fastest‑growing city.
- Class A property in a high‑growth area with 5,000 planned residences and high average household income (>$100k).
- Strategically located less than one mile from Advent Health hospital and opposite a new Publix Supermarket.
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
$125,519
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
5.43%
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%
$2,510,380
$2.5M
Cap Rate 7%
$1,793,129
$1.8M
Cap Rate 9%
$1,394,656
$1.4M
Market Conditions
NOI Build-Up for 6,392 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
$185.6K $29.04/SF
− Vacancy
−$6.3K −$0.99/SF
EGI
$179.3K $28.05/SF
− OpEx
−$53.8K −$8.42/SF
NOI
$125.5K $19.64/SF
Area
Orange County, 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 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%
$2,510,380
Cap Rate 7%
$1,793,129
Cap Rate 9%
$1,394,656
Alternative Uses
Best Use
Retail
$1.79M
$1.57M – $2.09M
NOI $125,519 @ 7.0% cap · market cap 5.43%
Second Best
Mixed Use
$1.21M
$1.05M – $1.41M
NOI $84,374 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,329 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Explore this area
Business Placement
Demographics for 32703, FL
54,805
Population
22,033
Households
2.5
Avg Household Size
37
Median Age
29%
College-Educated
87%
High-School Grad
32.1 sq mi
ZIP Area
1,707
Density / Sq Mi
$70,338
Median Household Income
$42,031
Median Earnings
$1,579
Median Rent
$314,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Shell retail building in mixed-use development, customizable interior.
Where is this retail space located?
The property is located at 2865 OCOEE APOPKA Rd 3 Apopka, FL.
What is the asking price?
The asking price for this property is $2,310,000.
What are key features of this property?
This property features: Located in Apopka's East Shore, Central Florida's second‑fastest‑growing city.; Class A property in a high‑growth area with 5,000 planned residences and high average household income (>$100k).; Strategically located less than one mile from Advent Health hospital and opposite a new Publix Supermarket.
