24-Suite Professional Office
407 LAKE HOWELL, Maitland, FL 32751
For Sale
$1,150,000
Multi-suite office property with shared amenities, furnished lobby areas, and flexible month-to-month occupancy.
Property Size6,117 SF
Days on Market70
Property Features for 407 LAKE HOWELL
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Highway Access
Public Transit
Additional Details
Office Units
Taxes and HOA fees
Annual Taxes
Amenities
shared kitchen
conference room
Building Details
Building Size
Year Built
Year Renovated
Buildings
Tenancy
Listing Agency:
RE/MAX ASSURED
Listed By:
Brent DeHoop
(407) 448-8971
Source:
Elliman
Added: Sep 1
Changed: Oct 31
Last Checked: Nov 8 at 7:21AM
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 RE/MAX ASSURED
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Investment Insights
Based on property information with market context.
This professional office building contains 24 individual suites supported by three furnished lobby areas, a shared kitchen, five restrooms, and a dedicated conference room. Approximately 29 parking spaces serve the property. The building was renovated in 2010, and the roof was replaced in 2016. Current leases are month-to-month, with some suites rented below market value.
The property is located at 407 Lake Howell in Maitland, Florida, within the City of Casselberry and two blocks from Hwy 436. Surrounding properties include established medical and professional offices. Walk Score is 31, Transit Score is 26, and bikeScore is 39. The building was originally constructed in 1959.
The property is located at 407 Lake Howell in Maitland, Florida, within the City of Casselberry and two blocks from Hwy 436. Surrounding properties include established medical and professional offices. Walk Score is 31, Transit Score is 26, and bikeScore is 39. The building was originally constructed in 1959.
Key Highlights
- 24 individual office suites with month‑to‑month leases
- Approximately 29 parking spaces
- Three fully furnished lobby areas, shared kitchen, five restrooms, and conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$100,527
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,010,540
$2.0M
Cap Rate 7%
$1,436,100
$1.4M
Cap Rate 9%
$1,116,967
$1.1M
Market Conditions
NOI Build-Up for 6,117 SF
Gross rent
$161.5K $26.40/SF
− Vacancy
−$27.5K −$4.49/SF
EGI
$134.0K $21.91/SF
− OpEx
−$33.5K −$5.48/SF
NOI
$100.5K $16.43/SF
Area
Orange County, FL
Vacancy
17.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,010,540
Cap Rate 7%
$1,436,100
Cap Rate 9%
$1,116,967
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,527 @ 7.0% cap · market cap 8.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.14M
NOI $128,698 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
24
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,122
Businesses Nearby
Explore this area
Business Placement
Demographics for 32751, FL
23,230
Population
10,730
Households
2.2
Avg Household Size
40
Median Age
56%
College-Educated
96%
High-School Grad
7.0 sq mi
ZIP Area
3,319
Density / Sq Mi
$94,277
Median Household Income
$51,357
Median Earnings
$1,841
Median Rent
$433,100
Median Home Value
Market
Average Price Trend$/SF for Office buildings in Orange County, FL
Properties on Market for Office buildings in Orange County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Multi-suite office property with shared amenities, furnished lobby areas, and flexible month-to-month occupancy.
Where is this office building located?
The property is located at 407 LAKE HOWELL Maitland, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 24 individual office suites with month‑to‑month leases; Approximately 29 parking spaces; Three fully furnished lobby areas, shared kitchen, five restrooms, and conference room
