Maitland Class A Green
For Sale
$7,700,000
429 S KELLER ROAD, Orlando, FL 32810
Environmentally conscious, modern 60,000 SF building with fitness facility.
Property Size36,268 SF
Lot Size1.91 Acres
Price / SF$212.31
Days on Market138
Property Features for 429 S KELLER ROAD
General Information
Standard status
Active
Size
36,268 SF
Lot size
1.91 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$80,679
Amenities
Central air
Pool
Public Pool
Retention Pond
Basement
Carpet Flooring
Central Air Cooling
Central Heating
Ceramic Tile Flooring
Electric Vehicle Charging Station(s)
Ground Level
Laminate Flooring
Landscaped
Lighted
Membrane Roof
Over 30 Spaces
Street Lights
Building Details
Year Built
2007
Listing Agency:
CHARLES RUTENBERG REALTY ORLANDO
(407) 622-2122
Listed By:
KATIE BERK · License #3309902
Source:
Corcoran
Added: Mar 25
Changed: Aug 8
Last Checked: Aug 8 at 11:51AM
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 CHARLES RUTENBERG REALTY ORLANDO
Investment Insights
Based on property information with market context.
This 60,000-square-foot Class A building located on Keller Road in Maitland is designed to minimize environmental impact while maximizing aesthetic appeal. Constructed with sustainable materials and advanced energy-saving features, the building includes low-emissivity glass, low-VOC paints and adhesives, recycled carpeting, low-flush toilets, and waterless urinals. The structure features a blend of angles, glass, Corten steel, natural stone, and landscaping. A three-story atrium with expansive glass panels creates a bold entrance. Eco-smart design enhances natural light through oversized windows, reducing the need for artificial lighting. The interior incorporates specialty wall coverings, slat walls, raised Plexi details, and custom millwork. Covered and open-air patios provide outdoor space. The property includes a fully equipped fitness facility and integrated stereo sound. There are 50 covered parking spots with ample open parking. This workspace is designed to foster innovation and creativity.
Key Highlights
- Class A, 60,000 sq ft 'Green' building with sustainable design and construction
- Architecturally striking modern design featuring angles, glass, Corten steel, natural stone, and vibrant landscaping
- Dramatic three‑story atrium with expansive glass panels and eco‑smart design maximizing natural light
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
$677,305
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
8.80%
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%
$13,546,100
$13.5M
Cap Rate 7%
$9,675,786
$9.7M
Cap Rate 9%
$7,525,611
$7.5M
Market Conditions
NOI Build-Up for 36,268 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
$1.09M $30.00/SF
− Vacancy
−$185.0K −$5.10/SF
EGI
$903.1K $24.90/SF
− OpEx
−$225.8K −$6.23/SF
NOI
$677.3K $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%
$13,546,100
Cap Rate 7%
$9,675,786
Cap Rate 9%
$7,525,611
Alternative Uses
Best Use
Office B
$9.68M
$8.47M – $11.29M
NOI $677,305 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.68M
$10.22M – $13.63M
NOI $817,823 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,821
Businesses Nearby
Explore this area
Business Placement
Demographics for 32810, FL
35,925
Population
14,849
Households
2.4
Avg Household Size
36
Median Age
26%
College-Educated
87%
High-School Grad
9.2 sq mi
ZIP Area
3,905
Density / Sq Mi
$58,462
Median Household Income
$37,983
Median Earnings
$1,545
Median Rent
$260,000
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?
Office building - Environmentally conscious, modern 60,000 SF building with fitness facility.
Where is this office building located?
The property is located at 429 S KELLER ROAD Orlando, FL.
What is the asking price?
The asking price for this property is $7,700,000.
What are key features of this property?
This property features: Class A, 60,000 sq ft 'Green' building with sustainable design and construction; Architecturally striking modern design featuring angles, glass, Corten steel, natural stone, and vibrant landscaping; Dramatic three‑story atrium with expansive glass panels and eco‑smart design maximizing natural light
