Multi-Suite Office
407 LAKE HOWELL ROAD Maitland, FL 32751
407 LAKE HOWELL ROAD, Maitland, FL, 32751
$1,235,000
For Sale
$1,235,000
Well-maintained office building with 24 suites, shared amenities, five restrooms, and approximately 29 parking spaces.
Property Size6,117 SF
Price / SF$201.90
Days on Market92
Property Features for 407 LAKE HOWELL ROAD
General Information
- Standard status
- Active
- Size
- 6,117 SF
- Property subtype
- Office
Building Details
- Year Built
- 1959
Listing Agency
RE/MAX ASSURED
(800) 393-8600
Listed by
Brent DeHoop
Source
Xome
Added: Apr 20 Checked: Jul 19 at 1:54 am
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
Investment Insights
Based on property information with market context.
This well-maintained commercial office building is currently operating as a professional office suite property with 24 individual suites. The layout includes welcoming, fully furnished lobby areas, a shared kitchen, five restrooms, and a dedicated conference room. The building was renovated in 2010, with a roof replacement in 2016.
The property is located in the City of Casselberry with a Maitland address, just two blocks from Hwy 436. It is surrounded by established medical and professional offices, supporting a broad range of office use.
For buyers, the building is consistently occupied with strong month-to-month tenancy. The current leases are on a month-to-month basis, and some suites are currently rented below market value, offering flexibility for future adjustments or personal utilization. The property includes approximately 29 parking spaces.
The property is located in the City of Casselberry with a Maitland address, just two blocks from Hwy 436. It is surrounded by established medical and professional offices, supporting a broad range of office use.
For buyers, the building is consistently occupied with strong month-to-month tenancy. The current leases are on a month-to-month basis, and some suites are currently rented below market value, offering flexibility for future adjustments or personal utilization. The property includes approximately 29 parking spaces.
Key Highlights
- Well‑maintained commercial office building with 24 individual suites and strong month‑to‑month tenancy
- Approximately 29 parking spaces plus multiple fully furnished lobby areas with a shared kitchen and dedicated conference room
- 5 restrooms across the building and a designed office‑suite layout for professional use
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $146.8k | $24.00 |
| − Vacancy | −$25.0k | −$4.08 |
| EGI | $121.9k | $19.92 |
| − OpEx | −$30.5k | −$4.98 |
| NOI | $91.4k | $14.94 |
6,117 SF · lease $24.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.31M
$1.14M – $1.52M
NOI $91,388 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,851 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
365 Tax Solutions
Certified Public Accountant
Legacy Tax Financial ...
Tax Collector'S Office
V 3 Inc
(Bike/Boat/Book/etc) Store
Alston Andre Inc.
Hair Salon
CPR Training Fast. ...
Vocational School
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FAQs
What type of property is this?
Office building - Well-maintained office building with 24 suites, shared amenities, five restrooms, and approximately 29 parking spaces.
Where is this office building located?
The property is located at 407 LAKE HOWELL ROAD Maitland, FL.
What is the asking price?
The asking price for this property is $1,235,000.
What are key features of this property?
This property features: Well‑maintained commercial office building with 24 individual suites and strong month‑to‑month tenancy; Approximately 29 parking spaces plus multiple fully furnished lobby areas with a shared kitchen and dedicated conference room; 5 restrooms across the building and a designed office‑suite layout for professional use
