Leased Office Condo
New
For Sale
$375,000
3239 OLD WINTER GARDEN 13, Orlando, FL 32805
Single-story office unit with private offices, conference space, and reception in a professionally managed condominium park.
Property Size1,282 SF
Price / SF$292.51
Days on Market6
Property Features for 3239 OLD WINTER GARDEN 13
General Information
Standard status
Active
Size
1,282 SF
Property subtype
Commercial
Zoning
I-G
Occupancy
100%
Net Operating Income
$28,836
Financials
Asking Price
$375,000
Cap Rate
7.69%
Opportunity Zone
Yes
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$2,838
Building Details
Building Size
1,282 SF
Year Built
2006
Stories
1
Construction
concrete block
Tenancy
Single
Listing Agency:
UNIVERSAL REALTY OF CENTRAL FL
Listed By:
Shane Rampersaud · License #3460083
(917) 405-6440
Source:
Elliman
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 26 at 10:27AM
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 UNIVERSAL REALTY OF CENTRAL FL
Investment Insights
Based on property information with market context.
Unit 13 is a 1,282 SF office condominium in Building 2 of the Old Winter Garden Road Commerce Center. The single-story layout includes four private offices, a conference room, reception area, central A/C, and concrete block construction completed in 2006. Shared surface parking serves the professionally managed condominium park, while the association maintains common areas, landscaping, the lot, and exterior insurance.
The unit is 100 percent occupied through January 2031 under a Modified Gross lease that transfers with the sale. The agreement includes 3 percent annual escalations and a five-year renewal option. The property is zoned I-G in the City of Orlando and lies within a Federal Opportunity Zone. Old Winter Garden Road frontage records about 24,500 vehicles per day, with access to I-4, SR-408, SR-50, and John Young Parkway, and downtown Orlando approximately three miles east.
The unit is 100 percent occupied through January 2031 under a Modified Gross lease that transfers with the sale. The agreement includes 3 percent annual escalations and a five-year renewal option. The property is zoned I-G in the City of Orlando and lies within a Federal Opportunity Zone. Old Winter Garden Road frontage records about 24,500 vehicles per day, with access to I-4, SR-408, SR-50, and John Young Parkway, and downtown Orlando approximately three miles east.
Key Highlights
- 1,282 SF office condominium in Building 2
- Four private offices, conference room, and reception area
- 100 percent occupied through January 2031
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
$23,941
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
6.38%
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%
$478,820
$478.8K
Cap Rate 7%
$342,014
$342.0K
Cap Rate 9%
$266,011
$266.0K
Market Conditions
NOI Build-Up for 1,282 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
$38.5K $30.00/SF
− Vacancy
−$6.5K −$5.10/SF
EGI
$31.9K $24.90/SF
− OpEx
−$8.0K −$6.23/SF
NOI
$23.9K $18.67/SF
Area
Orlando, FL
Vacancy
17.00%
Lease Rate
$30.00 /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%
$478,820
Cap Rate 7%
$342,014
Cap Rate 9%
$266,011
Alternative Uses
Best Use
Office B
$342.0K
$299.3K – $399.0K
NOI $23,941 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$413.0K
$361.4K – $481.8K
NOI $28,908 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,049
Businesses Nearby
Explore this area
Business Placement
Demographics for 32805, FL
23,331
Population
9,332
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
78%
High-School Grad
6.8 sq mi
ZIP Area
3,431
Density / Sq Mi
$39,425
Median Household Income
$29,592
Median Earnings
$1,112
Median Rent
$226,100
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 Orlando, FL
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Frequently Asked Questions
What type of property is this?
Office units - Single-story office unit with private offices, conference space, and reception in a professionally managed condominium park.
Where is this office units located?
The property is located at 3239 OLD WINTER GARDEN 13 Orlando, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1,282 SF office condominium in Building 2; Four private offices, conference room, and reception area; 100 percent occupied through January 2031
