Office Building with Monument
For Sale
Contact for pricing
393 Maitland Ave, Altamonte Springs, FL 32701
4,500 SF office building on 0.72+ acres with 33 exclusive parking spaces and a new 2025 roof.
Property Size4,500 SF
Lot Size0.72 Acres
Price / SF$353.33
Days on Market145
Property Features for 393 Maitland Ave
General Information
Standard status
Active
Size
4,500 SF
Class
C
Total Parking Spaces
33
Lot size
0.72 Acres
Property subtype
Office
Zoning
MOR1
Site & Location
Traffic Count
14,800 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1980
Year Renovated
2025
Buildings
1
Stories
1
Units
33
Tenancy
Single
Listing Agency:
Forness Properties LLC
Listed By:
Monte Mitchell · License #FL
(407) 403-5846
Source:
Crexi
Added: Apr 13
Changed: Aug 25
Last Checked: Aug 31 at 2:17AM
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 Forness Properties LLC
Investment Insights
Based on property information with market context.
This office building offers approximately 4,500 SF of space on 0.72+ acres, with ample on-site parking including 33 exclusive spaces. Monument signage is in place, and a new roof was installed in 2025.
Located at 393 Maitland Ave in Altamonte Springs, the property provides visibility along Maitland Ave with reported traffic of 14,800 vehicles per day. It is also described as being minutes from I-4, SR 436, and SR 434 for an easy Orlando commute.
For those seeking a straightforward office asset with updated roofing and defined parking capacity, this property presents a practical option for ownership.
Located at 393 Maitland Ave in Altamonte Springs, the property provides visibility along Maitland Ave with reported traffic of 14,800 vehicles per day. It is also described as being minutes from I-4, SR 436, and SR 434 for an easy Orlando commute.
For those seeking a straightforward office asset with updated roofing and defined parking capacity, this property presents a practical option for ownership.
Key Highlights
- 4,500 SF office building built in 1980 on 0.72+ acres
- 33 exclusive parking spaces
- New roof installed in 2025
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
$67,230
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
4.23%
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%
$1,344,600
$1.3M
Cap Rate 7%
$960,429
$960.4K
Cap Rate 9%
$747,000
$747.0K
Market Conditions
NOI Build-Up for 4,500 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
$108.0K $24.00/SF
− Vacancy
−$18.4K −$4.08/SF
EGI
$89.6K $19.92/SF
− OpEx
−$22.4K −$4.98/SF
NOI
$67.2K $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%
$1,344,600
Cap Rate 7%
$960,429
Cap Rate 9%
$747,000
Alternative Uses
Best Use
Office B
$960.4K
$840.4K – $1.12M
NOI $67,230 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,640 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14,800 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,670
Businesses Nearby
Explore this area
Business Placement
Demographics for 32701, FL
23,265
Population
12,085
Households
1.9
Avg Household Size
40
Median Age
35%
College-Educated
93%
High-School Grad
5.6 sq mi
ZIP Area
4,154
Density / Sq Mi
$62,008
Median Household Income
$37,359
Median Earnings
$1,609
Median Rent
$258,100
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 - 4,500 SF office building on 0.72+ acres with 33 exclusive parking spaces and a new 2025 roof.
Where is this office building located?
The property is located at 393 Maitland Ave Altamonte Springs, FL.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: 4,500 SF office building built in 1980 on 0.72+ acres; 33 exclusive parking spaces; New roof installed in 2025
