Two-Unit Flex Industrial
New
For Sale
$749,900
3239 OLD WINTER GARDEN RD #9A & 9B, Orlando, FL 32805
Adjoining office and warehouse units provide a combined commercial configuration with central air conditioning in the office space.
Property Size2,607 SF
Days on Market5
Property Features for 3239 OLD WINTER GARDEN RD #9A & 9B
General Information
Standard status
Active
Size
2,607 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$3,433
Building Details
Building Size
2,607 SF
Year Built
2006
Construction
block
Listing Agency:
LAWHUN ENTERPRISES IV, LLC DBA: FLORIDA REALTY INVESTMENTS IV
(407) 724-9127
Listed By:
Smith Salomon
Source:
Novaorlando
Added: Aug 7
Changed: Aug 10
Last Checked: Aug 11 at 1:15PM
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 LAWHUN ENTERPRISES IV, LLC DBA: FLORIDA REALTY INVESTMENTS IV
Investment Insights
Based on property information with market context.
This offering combines two commercial condominium units: a finished office suite and an adjoining warehouse. The office includes central A/C, while the warehouse provides industrial utility within the same ownership package. Both units were constructed in 2006 with block construction, creating a flexible setup for an owner-user or investor seeking office and storage components together.
The property is positioned near major Orlando routes, including 408, I-4, and Colonial Dr. The warehouse may also be converted into office space, subject to applicable approvals, offering an additional configuration option for the premises.
The property is positioned near major Orlando routes, including 408, I-4, and Colonial Dr. The warehouse may also be converted into office space, subject to applicable approvals, offering an additional configuration option for the premises.
Key Highlights
- Two commercial condominium units sold together
- Finished office space adjoining a warehouse unit
- Central A/C in the office unit
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
$48,686
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
6.49%
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%
$973,720
$973.7K
Cap Rate 7%
$695,514
$695.5K
Cap Rate 9%
$540,956
$541.0K
Market Conditions
NOI Build-Up for 2,607 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
$78.2K $30.00/SF
− Vacancy
−$13.3K −$5.10/SF
EGI
$64.9K $24.90/SF
− OpEx
−$16.2K −$6.23/SF
NOI
$48.7K $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%
$973,720
Cap Rate 7%
$695,514
Cap Rate 9%
$540,956
Alternative Uses
Best Use
Office B
$695.5K
$608.6K – $811.4K
NOI $48,686 @ 7.0% cap · market cap 6.49%
Second Best
Warehouse
$252.6K
$221.1K – $294.7K
NOI $17,684 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$839.8K
$734.8K – $979.8K
NOI $58,786 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
829
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - Adjoining office and warehouse units provide a combined commercial configuration with central air conditioning in the office space.
Where is this flex space located?
The property is located at 3239 OLD WINTER GARDEN RD #9A & 9B Orlando, FL.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Two commercial condominium units sold together; Finished office space adjoining a warehouse unit; Central A/C in the office unit
