Lake Mary Office Building For
For Sale
$6,900,000
3300 West Lake Mary Blvd, Lake Mary, FL 32746
Three-story office building with high occupancy and prime location.
Property Size28,183 SF
Lot Size2.16 Acres
Price / SF$244.83
Days on Market164
Property Features for 3300 West Lake Mary Blvd
General Information
Standard status
Active
Size
28,183 SF
Lot size
2.16 Acres
Property subtype
Office
Building Details
Year Built
1999
Listing Agency:
NAI Realvest | Orlando
(407) 620-3149
Listed By:
Mary Frances West, CCIM
(407) 620-3149
Source:
Naiglobal
Added: Mar 6
Changed: Jul 6
Last Checked: Aug 16 at 5:22AM
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 NAI Realvest | Orlando
Investment Insights
Based on property information with market context.
This three-story office building, constructed in 1999 and renovated in 2011, offers a total of 28,183 square feet on a 2.16-acre lot. The building underwent a new roof installation in 2019 and an exterior paint refresh in 2022. The property provides a parking ratio of 4 spaces per 1,000 square feet, totaling 115 parking spaces. As of February 2026, the building has a 93% occupancy rate. A pylon sign is located on Lake Mary Boulevard, which experiences a daily traffic count of 45,517 vehicles. The location provides convenient access to I-4 via Lake Mary Boulevard, with easy connections to Rinehart Road, Longwood-Lake Mary Road, and US Highway 17-92. The property is situated 1.6 miles east of I-4, 3 miles west of US Highway 17-92, and 4.2 miles west of SR 417 (Greeneway). The building's anchor tenant is Nemours Children's Health, occupying the entire first floor. The property is located close to shopping centers, banks, and a variety of restaurants.
Key Highlights
- Anchor tenant: Nemours Children's Health occupies the entire 1st floor.
- High occupancy rate: 93% as of February 2026.
- Favorable location with high traffic count: Pylon signage on Lake Mary Blvd (45,517/day).
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
$421,054
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
6.10%
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%
$8,421,080
$8.4M
Cap Rate 7%
$6,015,057
$6.0M
Cap Rate 9%
$4,678,378
$4.7M
Market Conditions
NOI Build-Up for 28,183 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
$676.4K $24.00/SF
− Vacancy
−$115.0K −$4.08/SF
EGI
$561.4K $19.92/SF
− OpEx
−$140.4K −$4.98/SF
NOI
$421.1K $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%
$8,421,080
Cap Rate 7%
$6,015,057
Cap Rate 9%
$4,678,378
Alternative Uses
Best Use
Office B
$6.02M
$5.26M – $7.02M
NOI $421,054 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.02M
$7.02M – $9.36M
NOI $561,405 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,071
Businesses Nearby
Explore this area
Business Placement
Demographics for 32746, FL
45,828
Population
20,204
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
97%
High-School Grad
21.1 sq mi
ZIP Area
2,172
Density / Sq Mi
$111,534
Median Household Income
$55,860
Median Earnings
$1,912
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three-story office building with high occupancy and prime location.
Where is this office building located?
The property is located at 3300 West Lake Mary Blvd Lake Mary, FL.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: Anchor tenant: Nemours Children's Health occupies the entire 1st floor.; High occupancy rate: 93% as of February 2026.; Favorable location with high traffic count: Pylon signage on Lake Mary Blvd (45,517/day).
