Rehabbed Property with Redevelopment
For Sale
Contact for pricing
2882 Sanford Ave, Sanford, FL 32773
Rehabbed commercial property, currently leased, with redevelopment potential.
Property Size882 SF
Price / SF$283.33
Days on Market630
Property Features for 2882 Sanford Ave
General Information
Standard status
Active
Size
882 SF
Property subtype
Mixed Use, Office
Zoning
SR1A
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$20,400
Building Details
Year Built
1980
Year Renovated
2024
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Anderson Commercial Advisors
(407) 383-9292
Listed By:
Kevin Gomez, CCIM · License #FL BK3377564
Source:
Crexi
Added: Dec 9, 2024
Changed: Aug 16
Last Checked: Aug 28 at 11:05AM
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 Anderson Commercial Advisors
Investment Insights
Based on property information with market context.
This is an 882 square foot rehabbed property with many possibilities. Currently leased at $1,700 per month, the property will need rezoning to office or desired use. It is suitable for office use, attorney, title company, real estate company, or mortgage company.
Key Highlights
- Ideal for office use: Suited for attorney, title company, real estate company, or mortgage company.
- Currently leased at $1,700/month.
- Property totally rehabbed.
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
$13,177
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
5.27%
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%
$263,540
$263.5K
Cap Rate 7%
$188,243
$188.2K
Cap Rate 9%
$146,411
$146.4K
Market Conditions
NOI Build-Up for 882 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
$21.2K $24.00/SF
− Vacancy
−$3.6K −$4.08/SF
EGI
$17.6K $19.92/SF
− OpEx
−$4.4K −$4.98/SF
NOI
$13.2K $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%
$263,540
Cap Rate 7%
$188,243
Cap Rate 9%
$146,411
Alternative Uses
Best Use
Office B
$188.2K
$164.7K – $219.6K
NOI $13,177 @ 7.0% cap · market cap 5.27%
Second Best
Mixed Use
$166.3K
$145.5K – $194.0K
NOI $11,642 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$251.0K
$219.6K – $292.8K
NOI $17,569 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32773, FL
33,990
Population
13,402
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
88%
High-School Grad
27.6 sq mi
ZIP Area
1,232
Density / Sq Mi
$63,496
Median Household Income
$40,479
Median Earnings
$1,482
Median Rent
$259,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- QEComputing — 818 E Airport Blvd, Sanford, FL 32773
- Medical Solution Services — 3209 Sanford Ave, Sanford, FL 32773
Frequently Asked Questions
What type of property is this?
Office space - Rehabbed commercial property, currently leased, with redevelopment potential.
Where is this office space located?
The property is located at 2882 Sanford Ave Sanford, FL.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Ideal for office use: Suited for attorney, title company, real estate company, or mortgage company.; Currently leased at $1,700/month.; Property totally rehabbed.
