Downtown Orlando Mixed-Use Redevelopment
For Sale
$5,990,000
421 E ROBINSON St, Orlando, FL 32801
Prime location near Lake Eola for mixed-use development or transformation.
Property Size9,479 SF
Lot Size0.68 Acres
Price / SF$599
Days on Market153
Property Features for 421 E ROBINSON St
General Information
Standard status
Active
Size
9,479 SF
Lot size
0.68 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$38,530
Building Details
Building Size
9,479 SF
Year Built
1965
Stories
1
Listing Agency:
DOVER INTERNATIONAL CO., INC.
(407) 488-7236
Listed By:
Kimberly Robinson · License #BK3113676
(407) 488-7236
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:21AM
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 DOVER INTERNATIONAL CO., INC.
Investment Insights
Based on property information with market context.
This property presents an opportunity for transformation or redevelopment, situated steps from Lake Eola Park in Downtown Orlando. The existing block construction building offers nearly 10,000 square feet of space. Previously approved city plans outline a mixed-use, 7-story development. The plans include one-bedroom, two-bedroom, and three-bedroom units, restaurant and office spaces, and a parking garage. Alternative visions may include senior housing or student accommodations. The location provides lake views and access to the 0.9-mile concrete path around Lake Eola. Immediate access to the Walt Disney Amphitheater places the property at the center of community events. Lake Eola's attractions, such as a pagoda, swan boats, and a playground, enhance the location's appeal. This site is positioned to become a community hub.
Key Highlights
- Prime location steps from Lake Eola Park in Downtown Orlando.
- Previously approved plans for a 7‑story mixed‑use development.
- Redevelopment opportunity with flexible options.
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
$210,395
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
3.51%
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%
$4,207,900
$4.2M
Cap Rate 7%
$3,005,643
$3.0M
Cap Rate 9%
$2,337,722
$2.3M
Market Conditions
NOI Build-Up for 10,000 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
$290.4K $29.04/SF
− Vacancy
−$9.9K −$0.99/SF
EGI
$280.5K $28.05/SF
− OpEx
−$70.1K −$7.01/SF
NOI
$210.4K $21.04/SF
Area
Orlando, FL
Vacancy
3.40%
Lease Rate
$29.04 /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%
$4,207,900
Cap Rate 7%
$3,005,643
Cap Rate 9%
$2,337,722
Alternative Uses
Best Use
Specialty Retail
$3.01M
$2.63M – $3.51M
NOI $210,395 @ 7.0% cap · market cap 3.51%
Second Best
Office B
$2.67M
$2.33M – $3.11M
NOI $186,750 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$3.22M
$2.82M – $3.76M
NOI $225,494 @ 7.0% cap · market cap 3.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,272
Businesses Nearby
Explore this area
Business Placement
Demographics for 32801, FL
17,728
Population
12,133
Households
1.5
Avg Household Size
36
Median Age
63%
College-Educated
95%
High-School Grad
2.2 sq mi
ZIP Area
8,058
Density / Sq Mi
$77,626
Median Household Income
$63,090
Median Earnings
$1,773
Median Rent
$397,600
Median Home Value
Market
Vacancy Rate% for Office in Orlando, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Prime location near Lake Eola for mixed-use development or transformation.
Where is this mixed-use property located?
The property is located at 421 E ROBINSON St Orlando, FL.
What is the asking price?
The asking price for this property is $5,990,000.
What are key features of this property?
This property features: Prime location steps from Lake Eola Park in Downtown Orlando.; Previously approved plans for a 7‑story mixed‑use development.; Redevelopment opportunity with flexible options.
