Mixed-Use Redevelopment
For Sale
$5,990,000
421 E Robinson St, Orlando, FL 32801
Existing block construction building near Lake Eola Park, with prior city-approved plans for a 7-story mixed-use project.
Property Size9,479 SF
Price / SF$631.92
Days on Market449
Property Features for 421 E Robinson St
General Information
Standard status
Active
Size
9,479 SF
Taxes and HOA fees
Annual Taxes
$38,530
Building Details
Stories
7
Listing Agency:
DOVER INTERNATIONAL CO., INC.
(407) 488-7236
Listed By:
Kimberly Robinson · License #BK3113676
(407) 488-7236
Source:
Exprealty
Added: May 22, 2025
Changed: Aug 8
Last Checked: Aug 13 at 8:39AM
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.
The property at 421 E Robinson St Orlando includes an existing nearly 10,000 SF block construction building. The site is being marketed as a redevelopment or transformation opportunity, with prior City of Orlando approved plans for a 7-story mixed-use development. The proposed concept includes spacious one-bedroom, two-bedroom, and three-bedroom units, along with restaurant and office spaces and a convenient parking garage.
The location is described as just steps from Lake Eola Park in Downtown Orlando, with immediate access to the Walt Disney Amphitheater and the surrounding event calendar. The remarks also reference the 0.9-mile concrete path that runs along Lake Eola and nearby lake-oriented attractions such as a pagoda, swan boats, and a playground.
For investors, developers, and operators, the practical takeaway is the flexibility between renovating the existing building and pursuing the previously approved mixed-use program on-site. The plan’s blend of residential units plus restaurant and office space may support multiple tenant and user profiles, including the remarks’ noted options such as senior housing or student accommodations. Any buyer evaluating the asset will have a clear framework provided by the prior approvals while still retaining the ability to tailor the final mix to their vision.
The location is described as just steps from Lake Eola Park in Downtown Orlando, with immediate access to the Walt Disney Amphitheater and the surrounding event calendar. The remarks also reference the 0.9-mile concrete path that runs along Lake Eola and nearby lake-oriented attractions such as a pagoda, swan boats, and a playground.
For investors, developers, and operators, the practical takeaway is the flexibility between renovating the existing building and pursuing the previously approved mixed-use program on-site. The plan’s blend of residential units plus restaurant and office space may support multiple tenant and user profiles, including the remarks’ noted options such as senior housing or student accommodations. Any buyer evaluating the asset will have a clear framework provided by the prior approvals while still retaining the ability to tailor the final mix to their vision.
Key Highlights
- Nearly 10,000 SF block construction building near Lake Eola Park in Downtown Orlando
- City of Orlando previously approved plans for a 7‑story mixed‑use development
- Proposed mix includes 1‑bedroom, 2‑bedroom, and 3‑bedroom units
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
$199,433
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
3.33%
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%
$3,988,660
$4.0M
Cap Rate 7%
$2,849,043
$2.8M
Cap Rate 9%
$2,215,922
$2.2M
Market Conditions
NOI Build-Up for 9,479 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
$275.3K $29.04/SF
− Vacancy
−$9.4K −$0.99/SF
EGI
$265.9K $28.05/SF
− OpEx
−$66.5K −$7.01/SF
NOI
$199.4K $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%
$3,988,660
Cap Rate 7%
$2,849,043
Cap Rate 9%
$2,215,922
Alternative Uses
Best Use
Specialty Retail
$2.85M
$2.49M – $3.32M
NOI $199,433 @ 7.0% cap · market cap 3.33%
Second Best
Mixed Use
$1.79M
$1.56M – $2.09M
NOI $125,123 @ 7.0% cap · market cap 2.09%
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,746 @ 7.0% cap · market cap 3.57%
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing block construction building near Lake Eola Park, with prior city-approved plans for a 7-story mixed-use project.
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: Nearly 10,000 SF block construction building near Lake Eola Park in Downtown Orlando; City of Orlando previously approved plans for a 7‑story mixed‑use development; Proposed mix includes 1‑bedroom, 2‑bedroom, and 3‑bedroom units
