Downtown Orlando Corner Redevelopment
For Sale
$999,000
501 E CHURCH St, Orlando, FL 32801
High-visibility corner parcel suitable for redevelopment or immediate occupancy.
Property Size1,723 SF
Days on Market129
Property Features for 501 E CHURCH St
General Information
Standard status
Active
Size
1,723 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,175
Building Details
Building Size
1,723 SF
Year Built
1953
Listing Agency:
OLDE TOWN BROKERS INC
(407) 719-6550
Listed By:
Patricia Sullivan · License #3130492
(407) 719-6550
Source:
Elliman
Added: Apr 24
Changed: Aug 24
Last Checked: Aug 14 at 7:25AM
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 OLDE TOWN BROKERS INC
Investment Insights
Based on property information with market context.
Located in the heart of Downtown Orlando, this property is a signalized, high-visibility corner parcel at the intersection of Church Street and Osceola Avenue, steps from Lake Eola and the Central Business District. The property features dual frontage along two major corridors within one of Orlando’s most walkable and supply-constrained urban cores. The existing one-story office building is well maintained and fully functional, suitable for a range of commercial applications, including retail, salon or spa, boutique medical, legal, counseling, or creative office. The current layout includes multiple private offices, a reception area, and window-lined workspaces. It is ideal for an owner-user or investor seeking immediate occupancy or income while evaluating longer-term plans. Zoned for high-density mixed-use, the property allows for multifamily, hotel, retail, restaurant, and urban commercial development. Surrounded by major residential towers, mixed-use projects, and ongoing downtown investment, this site is positioned for vertical redevelopment, including luxury apartments, boutique hotel concepts, or mixed-use projects with ground-floor retail. The location has a walk score of 93, indicating it is a walker's paradise, a bike score of 75, indicating it is very bikeable, and a transit score of 60, indicating good transit. This asset is compelling for both near-term use and long-term value creation.
Key Highlights
- Rare downtown Orlando corner parcel with high visibility and dual frontage.
- Zoned for high‑density mixed‑use, allowing for diverse development options (multifamily, hotel, retail, etc.).
- Existing well‑maintained, fully functional office building suitable for immediate occupancy or income generation.
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
$32,177
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
3.22%
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%
$643,540
$643.5K
Cap Rate 7%
$459,671
$459.7K
Cap Rate 9%
$357,522
$357.5K
Market Conditions
NOI Build-Up for 1,723 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
$51.7K $30.00/SF
− Vacancy
−$8.8K −$5.10/SF
EGI
$42.9K $24.90/SF
− OpEx
−$10.7K −$6.23/SF
NOI
$32.2K $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%
$643,540
Cap Rate 7%
$459,671
Cap Rate 9%
$357,522
Alternative Uses
Best Use
Office B
$459.7K
$402.2K – $536.3K
NOI $32,177 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$555.0K
$485.7K – $647.6K
NOI $38,853 @ 7.0% cap · market cap 3.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,788
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - High-visibility corner parcel suitable for redevelopment or immediate occupancy.
Where is this office building located?
The property is located at 501 E CHURCH St Orlando, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Rare downtown Orlando corner parcel with **high visibility and dual frontage**.; Zoned for high‑density mixed‑use, allowing for diverse development options (multifamily, hotel, retail, etc.).; Existing well‑maintained, fully functional office building suitable for immediate occupancy or income generation.
