5-Unit Strip
New
For Sale
$1,680,000
500-508 W OAK RIDGE ROAD, Orlando, FL 32809
C-1 zoning and separate water and electric meters serve the multi-tenant layout.
Property Size5,000 SF
Price / SF$336
Days on Market6
Property Features for 500-508 W OAK RIDGE ROAD
General Information
Standard status
Active
Size
5,000 SF
Total Parking Spaces
16
Property subtype
Retail
Zoning
C-1
Site & Location
Neighborhood
Lancaster
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1974
Year Renovated
2019
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
ELITE REAL ESTATE TEAM
Listed By:
Jennifer Pigg · License #3476927
(386) 314-7505
Source:
Dennisrealty
Added: Oct 28
Changed: Nov 1
Last Checked: Nov 1 at 4:52AM
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 ELITE REAL ESTATE TEAM
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding, single-story commercial property is configured as five units. A church occupies one unit on a month-to-month lease, while a restaurant with a bar license uses two adjoining units under a lease extending through August 2028. The remaining two units are vacant; one previously housed a beauty salon. The building’s most recent remodel was completed in 2019, and 16 parking spaces are on site.
Located along West Oak Ridge Road in unincorporated Orange County’s Pine Castle / South Orlando area, the property is a short distance from Oak Ridge High School and near South Orange Blossom Trail and I-4. C-1 zoning, county water and sewer, and separate water and electric meters for each unit are in place. Natural gas is available at the rear of the building.
Located along West Oak Ridge Road in unincorporated Orange County’s Pine Castle / South Orlando area, the property is a short distance from Oak Ridge High School and near South Orange Blossom Trail and I-4. C-1 zoning, county water and sewer, and separate water and electric meters for each unit are in place. Natural gas is available at the rear of the building.
Key Highlights
- Five units; two are vacant, one is occupied by a church, and two are leased to a restaurant with a bar license
- Restaurant lease runs through August 2028; church tenancy is month to month
- 16 on‑site parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,197
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,103,940
$2.1M
Cap Rate 7%
$1,502,814
$1.5M
Cap Rate 9%
$1,168,856
$1.2M
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$145.2K $29.04/SF
− Vacancy
−$4.9K −$0.99/SF
EGI
$140.3K $28.05/SF
− OpEx
−$35.1K −$7.01/SF
NOI
$105.2K $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 Rate 5%
$2,103,940
Cap Rate 7%
$1,502,814
Cap Rate 9%
$1,168,856
Alternative Uses
Best Use
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,197 @ 7.0% cap · market cap 6.26%
Second Best
Retail
$1.40M
$1.23M – $1.64M
NOI $98,184 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,747 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
26k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 93%
Dining 7%
Family Dollar
Shops & Services
9,083 visits/mo
0.4 miles
Mobil
Shops & Services
5,031 visits/mo
0.1 miles
Shell
Shops & Services
3,958 visits/mo
0.1 miles
Sunoco
Shops & Services
3,552 visits/mo
0.1 miles
Citgo
Shops & Services
2,278 visits/mo
0.5 miles
Demographics for 32809, FL
29,478
Population
10,674
Households
2.8
Avg Household Size
36
Median Age
23%
College-Educated
79%
High-School Grad
10.4 sq mi
ZIP Area
2,834
Density / Sq Mi
$52,203
Median Household Income
$30,985
Median Earnings
$1,368
Median Rent
$281,000
Median Home Value
Market
Vacancy Rate% for Retail in Orlando, FL
Frequently Asked Questions
What type of property is this?
Strip mall - C-1 zoning and separate water and electric meters serve the multi-tenant layout.
Where is this strip mall located?
The property is located at 500-508 W OAK RIDGE ROAD Orlando, FL.
What is the asking price?
The asking price for this property is $1,680,000.
What are key features of this property?
This property features: Five units; two are vacant, one is occupied by a church, and two are leased to a restaurant with a bar license; Restaurant lease runs through August 2028; church tenancy is month to month; 16 on‑site parking spaces
