Renovated Office Building on Double
For Sale
$425,000
3316 W 5TH STREET, Sanford, FL 32771
Double-lot office building renovation offers flexible layout for professional and medical use with convenient highway access.
Property Size1,360 SF
Price / SF$312.50
Days on Market68
Property Features for 3316 W 5TH STREET
General Information
Standard status
Active
Size
1,360 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$472
Amenities
Central air
Pool
Public Pool
Central Air Cooling
Concrete Flooring
Building Details
Year Built
1959
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
MARTINA PARADYSZ · License #3567402
Source:
Corcoran
Added: Jun 11
Changed: Aug 15
Last Checked: Aug 16 at 6:10AM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This property includes a double commercial lot with a completely renovated structure that is currently in progress. The existing improvements position the space as a flexible base for a variety of professional uses, including conversion into a professional office building, medical suite, or law office. The renovation status allows a buyer to tailor the buildout to their specific operating needs and timeline, while preserving the benefit of extensive work already underway.
Located at 3316 W 5th Street in Sanford, Florida, the property offers immediate access to SR 46 and quick connectivity to Interstate 4. It is described as minutes from the Historic Downtown Sanford corridor, supporting access to established retail, dining, and professional services in the surrounding area.
For end-users, this is a practical option when you want an office or medical environment that can be shaped for your business. For developers and investors, the combination of a double lot and an active renovation supports use cases that benefit from adaptable commercial space. Prospective purchasers and tenants should verify final configuration, permitting, and the scope remaining for completion based on their intended use.
Located at 3316 W 5th Street in Sanford, Florida, the property offers immediate access to SR 46 and quick connectivity to Interstate 4. It is described as minutes from the Historic Downtown Sanford corridor, supporting access to established retail, dining, and professional services in the surrounding area.
For end-users, this is a practical option when you want an office or medical environment that can be shaped for your business. For developers and investors, the combination of a double lot and an active renovation supports use cases that benefit from adaptable commercial space. Prospective purchasers and tenants should verify final configuration, permitting, and the scope remaining for completion based on their intended use.
Key Highlights
- Double commercial lot at 3316 W 5th Street, Sanford, FL
- Renovated structure (renovation currently in progress) on a 1959‑built building
- Flexible layout that can be converted for professional office, medical suite, or law office use
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
$20,318
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
4.78%
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%
$406,360
$406.4K
Cap Rate 7%
$290,257
$290.3K
Cap Rate 9%
$225,756
$225.8K
Market Conditions
NOI Build-Up for 1,360 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
$32.6K $24.00/SF
− Vacancy
−$5.5K −$4.08/SF
EGI
$27.1K $19.92/SF
− OpEx
−$6.8K −$4.98/SF
NOI
$20.3K $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%
$406,360
Cap Rate 7%
$290,257
Cap Rate 9%
$225,756
Alternative Uses
Best Use
Office B
$290.3K
$254.0K – $338.6K
NOI $20,318 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$387.0K
$338.6K – $451.5K
NOI $27,091 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 32771, FL
57,178
Population
24,062
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
37.5 sq mi
ZIP Area
1,525
Density / Sq Mi
$74,520
Median Household Income
$43,321
Median Earnings
$1,584
Median Rent
$332,500
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 - Double-lot office building renovation offers flexible layout for professional and medical use with convenient highway access.
Where is this office building located?
The property is located at 3316 W 5TH STREET Sanford, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Double commercial lot at 3316 W 5th Street, Sanford, FL; Renovated structure (renovation currently in progress) on a 1959‑built building; Flexible layout that can be converted for professional office, medical suite, or law office use
