Two-Unit Office
For Sale
$599,000
3239 OLD WINTER GARDEN ROAD #12A/12B, Orlando, FL 32805
Paired office condos provide private rooms, open work areas, central A/C, and flexible layouts within a managed commercial complex.
Property Size1,282 SF
Price / SF$233.62
Days on Market161
Property Features for 3239 OLD WINTER GARDEN ROAD #12A/12B
General Information
Standard status
Active
Size
1,282 SF
Property subtype
Commercial
Zoning
I-G
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Opportunity Zone
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$2,615
Building Details
Building Size
1,282 SF
Year Built
2006
Units
2
Construction
block
Listing Agency:
UNIVERSAL REALTY OF CENTRAL FL
(917) 405-6440
Listed By:
Shane Rampersaud · License #3460083
(917) 405-6440
Source:
Mbifloridarealty
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 16 at 4:05PM
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.
This offering combines two adjoining office condominium units totaling approximately 2,564 SF. Each unit measures approximately 1,282 SF and includes private offices alongside open work areas that can support professional services, medical or wellness practices, boutique retail, or creative studio use. The units may be operated together as one larger workplace or maintained as separate suites. Built in 2006, the property features block construction and central A/C within a professionally managed complex with ample parking.
The property is located at 3239 Old Winter Garden Road #12A/12B in Orlando and carries I-G zoning. It is positioned near John Young Parkway, SR-408, West Colonial Drive (SR-50), and I-4, with access to Downtown Orlando. The condominiums are also within a federal Opportunity Zone.
The property is located at 3239 Old Winter Garden Road #12A/12B in Orlando and carries I-G zoning. It is positioned near John Young Parkway, SR-408, West Colonial Drive (SR-50), and I-4, with access to Downtown Orlando. The condominiums are also within a federal Opportunity Zone.
Key Highlights
- Two adjoining office condominium units totaling approximately 2,564 SF
- Each unit offers approximately 1,282 SF of private offices and open work areas
- Built in 2006 with block construction and central A/C
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
$47,883
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
7.99%
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%
$957,660
$957.7K
Cap Rate 7%
$684,043
$684.0K
Cap Rate 9%
$532,033
$532.0K
Market Conditions
NOI Build-Up for 2,564 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
$76.9K $30.00/SF
− Vacancy
−$13.1K −$5.10/SF
EGI
$63.8K $24.90/SF
− OpEx
−$16.0K −$6.23/SF
NOI
$47.9K $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%
$957,660
Cap Rate 7%
$684,043
Cap Rate 9%
$532,033
Alternative Uses
Best Use
Office B
$684.0K
$598.5K – $798.1K
NOI $47,883 @ 7.0% cap · market cap 7.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$826.0K
$722.7K – $963.6K
NOI $57,817 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
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
Market
Vacancy Rate% for Office in Orlando, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Paired office condos provide private rooms, open work areas, central A/C, and flexible layouts within a managed commercial complex.
Where is this office units located?
The property is located at 3239 OLD WINTER GARDEN ROAD #12A/12B Orlando, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two adjoining office condominium units totaling approximately 2,564 SF; Each unit offers approximately 1,282 SF of private offices and open work areas; Built in 2006 with block construction and central A/C
