Freestanding Retail Redevelopment
For Sale
Contact for pricing
2885 S Orlando Dr, Sanford, FL 32773
Oversized parcel with a freestanding 6,720 SF retail building and C-2 zoning along US Hwy 17-92.
Property Size6,720 SF
Lot Size2.11 Acres
Price / SF$291.67
Days on Market233
Property Features for 2885 S Orlando Dr
General Information
Standard status
Active
Size
6,720 SF
Lot size
2.11 Acres
Property subtype
RETAIL
Zoning
C-2
Site & Location
Traffic Count
26,500 vehicles/day
Highway Access
Yes
Additional Details
Land Use
commercial
Building Details
Buildings
1
Listing Agency:
SVN Commercial Advisory Group
(941) 387-1200
Listed By:
Lance Cobb · License ##SL3483253
(941) 356-4781
Source:
Moodyscre
Added: Jan 23
Changed: Sep 12
Last Checked: Sep 13 at 10:53AM
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 SVN Commercial Advisory Group
Investment Insights
Based on property information with market context.
This property includes a vacant delivery at closing, along with an oversized 2.11± acre parcel featuring an existing 6,720 SF freestanding retail building. The offering is suited for buyers looking to redevelop, re-tenant, or occupy the space themselves, with the existing structure providing a starting point.
The site is positioned for strong exposure along US Hwy 17-92, with an estimated ±26,500 AADT. Zoning is listed as C-2, allowing for a wide range of commercial uses, and buyers are advised to verify specific permitted uses.
The site is positioned for strong exposure along US Hwy 17-92, with an estimated ±26,500 AADT. Zoning is listed as C-2, allowing for a wide range of commercial uses, and buyers are advised to verify specific permitted uses.
Key Highlights
- 2.11± acre parcel with an existing 6,720 SF freestanding retail building
- Vacant delivery at closing for redevelopment, re‑tenanting, or owner‑user occupancy
- C‑2 zoning for a wide range of commercial uses (buyer to verify)
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
$131,960
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
6.73%
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%
$2,639,200
$2.6M
Cap Rate 7%
$1,885,143
$1.9M
Cap Rate 9%
$1,466,222
$1.5M
Market Conditions
NOI Build-Up for 6,720 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
$195.1K $29.04/SF
− Vacancy
−$6.6K −$0.99/SF
EGI
$188.5K $28.05/SF
− OpEx
−$56.6K −$8.42/SF
NOI
$132.0K $19.64/SF
Area
Seminole 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%
$2,639,200
Cap Rate 7%
$1,885,143
Cap Rate 9%
$1,466,222
Alternative Uses
Best Use
Retail
$1.89M
$1.65M – $2.20M
NOI $131,960 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,862 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
26,500 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Oversized parcel with a freestanding 6,720 SF retail building and C-2 zoning along US Hwy 17-92.
Where is this retail space located?
The property is located at 2885 S Orlando Dr Sanford, FL.
What is the asking price?
The asking price for this property is $1,960,000.
What are key features of this property?
This property features: 2.11± acre parcel with an existing 6,720 SF freestanding retail building; Vacant delivery at closing for redevelopment, re‑tenanting, or owner‑user occupancy; C‑2 zoning for a wide range of commercial uses (buyer to verify)
