Turn-Key Medical Office
For Sale
$359,000
420-6735 Conroy Rd, Orlando, FL 32839
Fully furnished office condo with five private offices, reception area, and enclosed kitchenette.
Property Size697 SF
Price / SF$515.06
Days on Market210
Property Features for 420-6735 Conroy Rd
General Information
Standard status
Active
Size
697 SF
Class
A
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$3,975
Listing Agency:
LUMER REAL ESTATE
(954) 990-9304
Listed By:
Patricia Soares
(954) 990-9304
Source:
Exprealty
Added: Jan 20
Changed: Aug 14
Last Checked: Aug 17 at 9:49PM
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 LUMER REAL ESTATE
Investment Insights
Based on property information with market context.
This turn-key Class A office condo is offered in Windermere Business Center and is fully furnished for immediate professional use. The space totals 697 SF and includes a welcoming reception area, an enclosed kitchenette with a full-size refrigerator, five private offices, and a conference room that can be converted into a sixth office. The current configuration supports client-facing work while providing dedicated rooms for staff and meetings.
The property is conveniently located minutes from Dr. Phillips and Windermere, with dining, retail, and business services nearby. The building context is a business center setting, designed to accommodate professional office operations.
Designed with privacy and flow in mind, this unit is a practical fit for legal, financial, insurance, therapy, and consulting professionals. Because the condo is owner occupied and available for occupancy on or after 03/20/2026, it can be a straightforward option for buyers seeking a prepared, move-in-ready workspace without the need to outfit the office from scratch.
The property is conveniently located minutes from Dr. Phillips and Windermere, with dining, retail, and business services nearby. The building context is a business center setting, designed to accommodate professional office operations.
Designed with privacy and flow in mind, this unit is a practical fit for legal, financial, insurance, therapy, and consulting professionals. Because the condo is owner occupied and available for occupancy on or after 03/20/2026, it can be a straightforward option for buyers seeking a prepared, move-in-ready workspace without the need to outfit the office from scratch.
Key Highlights
- Turn‑key Class A office condo in Windermere Business Center with 697 SF and fully furnished interior
- Layout includes 5 private offices plus 1 conference room (convertible to a 6th office)
- Welcoming reception area provides client‑facing space
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
$13,016
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
3.63%
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%
$260,320
$260.3K
Cap Rate 7%
$185,943
$185.9K
Cap Rate 9%
$144,622
$144.6K
Market Conditions
NOI Build-Up for 697 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
$20.9K $30.00/SF
− Vacancy
−$3.6K −$5.10/SF
EGI
$17.4K $24.90/SF
− OpEx
−$4.3K −$6.23/SF
NOI
$13.0K $18.67/SF
Area
Orlando, FL
Vacancy
17.00%
Lease Rate
$30.00 /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%
$260,320
Cap Rate 7%
$185,943
Cap Rate 9%
$144,622
Alternative Uses
Best Use
Office B
$185.9K
$162.7K – $216.9K
NOI $13,016 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$224.5K
$196.5K – $262.0K
NOI $15,717 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
Explore this area
Business Placement
Demographics for 32839, FL
58,641
Population
24,325
Households
2.4
Avg Household Size
32
Median Age
21%
College-Educated
83%
High-School Grad
7.4 sq mi
ZIP Area
7,924
Density / Sq Mi
$50,814
Median Household Income
$31,648
Median Earnings
$1,429
Median Rent
$250,800
Median Home Value
Market
Vacancy Rate% for Office in Orlando, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Fully furnished office condo with five private offices, reception area, and enclosed kitchenette.
Where is this office units located?
The property is located at 420-6735 Conroy Rd Orlando, FL.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Turn‑key Class A office condo in Windermere Business Center with 697 SF and fully furnished interior; Layout includes 5 private offices plus 1 conference room (convertible to a 6th office); Welcoming reception area provides client‑facing space
