Industrial Development
For Sale
$5,000,000
3301 Gardenia Avenue, Orlando, FL 32805
Development site with a Discount Music Center building, large pole sign, and frontage on I-4 and LB McLeod Road.
Property Size24,857 SF
Lot Size2.31 Acres
Price / SF$201.15
Days on Market66
Property Features for 3301 Gardenia Avenue
General Information
Standard status
Active
Size
24,857 SF
Lot size
2.31 Acres
Property subtype
Land
Zoning
I-G, C-3
Site & Location
Traffic Count
154,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Listed By:
Blake Hattaway, MiCP
(407) 616-0382
Source:
Realvest
Added: Jul 4
Changed: Aug 14
Last Checked: Sep 6 at 5:04AM
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 Blake Hattaway, MiCP
Investment Insights
Based on property information with market context.
A 2.31± acre development site with existing Discount Music Center building totaling 24,857± SF, along with on-site parking. The property is made up of two parcels: one in Orlando containing the building and parking, and a second in Orange County containing parking only.
The site has frontage on I-4 and LB McLeod Road and features a large pole sign visible from both roads. Public remarks cite high traffic and visibility including 30,000 on LB McLeod, 38,500 on John Young, and 154,000 on I-4.
Zoning is I-G (Light Industrial) in Orlando and C-3 (Commercial/Retail) in Orange County. Light industrial zoning would allow outdoor storage/truck parking, supporting a range of office, retail, and industrial/flex development concepts based on the configuration and zoning across the two parcels.
The site has frontage on I-4 and LB McLeod Road and features a large pole sign visible from both roads. Public remarks cite high traffic and visibility including 30,000 on LB McLeod, 38,500 on John Young, and 154,000 on I-4.
Zoning is I-G (Light Industrial) in Orlando and C-3 (Commercial/Retail) in Orange County. Light industrial zoning would allow outdoor storage/truck parking, supporting a range of office, retail, and industrial/flex development concepts based on the configuration and zoning across the two parcels.
Key Highlights
- 2.31± acre site with frontage on I‑4 and LB McLeod Road
- Discount Music Center building totaling 24,857± SF plus parking
- Two parcels: one in Orlando (building and parking) and one in Orange County (parking only)
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
$168,613
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
3.37%
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%
$3,372,260
$3.4M
Cap Rate 7%
$2,408,757
$2.4M
Cap Rate 9%
$1,873,478
$1.9M
Market Conditions
NOI Build-Up for 24,857 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
$217.7K $8.76/SF
− Vacancy
−$19.4K −$0.78/SF
EGI
$198.4K $7.98/SF
− OpEx
−$29.8K −$1.20/SF
NOI
$168.6K $6.78/SF
Area
Orlando, FL
Vacancy
8.90%
Lease Rate
$8.76 /SF/Yr
Expense Ratio
15.00%
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%
$3,372,260
Cap Rate 7%
$2,408,757
Cap Rate 9%
$1,873,478
Alternative Uses
Best Use
Warehouse
$2.41M
$2.11M – $2.81M
NOI $168,613 @ 7.0% cap · market cap 3.37%
Second Best
Industrial
$1.98M
$1.74M – $2.31M
NOI $138,857 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$8.01M
$7.01M – $9.34M
NOI $560,511 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
154,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
Well-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 Industrial in Orlando, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Development site with a Discount Music Center building, large pole sign, and frontage on I-4 and LB McLeod Road.
Where is this flex space located?
The property is located at 3301 Gardenia Avenue Orlando, FL.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 2.31± acre site with frontage on I‑4 and LB McLeod Road; Discount Music Center building totaling 24,857± SF plus parking; Two parcels: one in Orlando (building and parking) and one in Orange County (parking only)
