Freestanding Office
New
For Sale
$2,600,000
404 W Main St, Apopka, FL 32703
Flexible interior includes private offices, meeting areas, large rooms, break space, restrooms, and additional work areas.
Property Size5,688 SF
Price / SF$457.10
Days on Market6
Property Features for 404 W Main St
General Information
Standard status
Active
Size
5,688 SF
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$15,353
Building Details
Buildings
1
Building Size
5,688 SF
Listing Agency:
STIRLING INTERNATIONAL REAL ES
(407) 250-1000
Listed By:
Rosa Rodriguez · License #3340698
(407) 832-1185
Source:
Exprealty
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 20 at 2:42PM
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 STIRLING INTERNATIONAL REAL ES
Investment Insights
Based on property information with market context.
This freestanding office building contains 5,688 SF under air with a versatile interior arrangement. The layout includes private offices, conference and meeting areas, large flexible-use rooms, a break area, restrooms, and additional workspace. Large windows bring natural light into the interior, while the standalone configuration supports a range of professional, office, service, educational, medical, and owner-user applications.
The property includes substantial on-site parking along with a fenced and gated rear area designated for parking or storage. That additional space can accommodate vehicles, equipment, or other business-related needs. Located in Apopka, the building offers a functional commercial setting with an adaptable floor plan and existing office improvements.
The property includes substantial on-site parking along with a fenced and gated rear area designated for parking or storage. That additional space can accommodate vehicles, equipment, or other business-related needs. Located in Apopka, the building offers a functional commercial setting with an adaptable floor plan and existing office improvements.
Key Highlights
- 5,688 SF freestanding commercial building
- 5,688 SF under air with an adaptable floor plan
- Private offices, conference areas, meeting rooms, and flexible‑use rooms
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
$84,979
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
3.27%
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%
$1,699,580
$1.7M
Cap Rate 7%
$1,213,986
$1.2M
Cap Rate 9%
$944,211
$944.2K
Market Conditions
NOI Build-Up for 5,688 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
$136.5K $24.00/SF
− Vacancy
−$23.2K −$4.08/SF
EGI
$113.3K $19.92/SF
− OpEx
−$28.3K −$4.98/SF
NOI
$85.0K $14.94/SF
Area
Orange 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%
$1,699,580
Cap Rate 7%
$1,213,986
Cap Rate 9%
$944,211
Alternative Uses
Best Use
Office B
$1.21M
$1.06M – $1.42M
NOI $84,979 @ 7.0% cap · market cap 3.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,305 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
866
Businesses Nearby
Explore this area
Business Placement
Demographics for 32703, FL
54,805
Population
22,033
Households
2.5
Avg Household Size
37
Median Age
29%
College-Educated
87%
High-School Grad
32.1 sq mi
ZIP Area
1,707
Density / Sq Mi
$70,338
Median Household Income
$42,031
Median Earnings
$1,579
Median Rent
$314,800
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 - Flexible interior includes private offices, meeting areas, large rooms, break space, restrooms, and additional work areas.
Where is this office building located?
The property is located at 404 W Main St Apopka, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 5,688 SF freestanding commercial building; 5,688 SF under air with an adaptable floor plan; Private offices, conference areas, meeting rooms, and flexible‑use rooms
