Block Construction Redevelopment
For Sale
$5,990,000
421 E Robinson Street ORLANDO, Orlando, FL 32801
Block construction building with previously approved mixed-use, seven-story plans for residential, restaurant, office, and parking garage.
Property Size9,492 SF
Price / SF$631.92
Days on Market76
Property Features for 421 E Robinson Street ORLANDO
General Information
Standard status
Active
Size
9,492 SF
Zoning
O-2/T
Taxes and HOA fees
Annual Taxes
$38,530
Amenities
true
1
Public
29539
0.68
false
Asphalt
Slab
Main Throrughfare
9492
Building Details
Building Size
9,492 SF
Year Built
1965
Buildings
1
Stories
1
Listed By:
Morgan Horsley
(407) 656-7814
Source:
Therealestatecollection
Added: Jul 6
Changed: Sep 15
Last Checked: Sep 19 at 6:30AM
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 Morgan Horsley
Investment Insights
Based on property information with market context.
The property features a nearly 10,000 SF block construction building that can be transformed or redeveloped. The City of Orlando previously approved plans for a mixed-use, seven-story development including one-, two-, and three-bedroom units, along with restaurant and office spaces and a convenient parking garage.
Located just steps from Lake Eola Park in Downtown Orlando, the site offers immediate access to the Walt Disney Amphitheater. Lake Eola’s amenities, including a pagoda, swan boats, and a playground, support an active year-round destination atmosphere.
Whether pursuing the existing building transformation or the approved redevelopment path, the site is structured to support a combination of residential and commercial uses within a parking-garage layout.
Located just steps from Lake Eola Park in Downtown Orlando, the site offers immediate access to the Walt Disney Amphitheater. Lake Eola’s amenities, including a pagoda, swan boats, and a playground, support an active year-round destination atmosphere.
Whether pursuing the existing building transformation or the approved redevelopment path, the site is structured to support a combination of residential and commercial uses within a parking-garage layout.
Key Highlights
- 9492 SF block construction building on a 0.68‑acre lot (1 building, 1 story), built in 1965
- City‑approved plans for a mixed‑use 7‑story redevelopment: 1-, 2-, and 3‑bedroom units plus restaurant and office space
- Includes a parking garage concept in the previously approved 7‑story mixed‑use plans
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
Office B
$2.53M
$2.21M – $2.95M
NOI $177,020 @ 7.0% cap · market cap 2.96%
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
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8,617
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
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Market
Vacancy Rate% for Office in Orlando, FL
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Frequently Asked Questions
What type of property is this?
Residential income property - Block construction building with previously approved mixed-use, seven-story plans for residential, restaurant, office, and parking garage.
Where is this residential income property located?
The property is located at 421 E Robinson Street ORLANDO 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: 9492 SF block construction building on a 0.68‑acre lot (1 building, 1 story), built in 1965; City‑approved plans for a mixed‑use 7‑story redevelopment: 1-, 2-, and 3‑bedroom units plus restaurant and office space; Includes a parking garage concept in the previously approved 7‑story mixed‑use plans
