Reinforced Concrete Retail and Office
For Sale
$2,500,000
5068 W COLONIAL Dr 15, Orlando, FL 32808
Reinforced concrete building with flexible interior layout for retail, medical, office, and other compatible commercial uses.
Property Size10,555 SF
Price / SF$236.85
Days on Market54
Property Features for 5068 W COLONIAL Dr 15
General Information
Standard status
Active
Size
10,555 SF
Property subtype
Commercial
Building Details
Year Built
1989
Listing Agency:
(321) 313-8086
Listed By:
Qinghe Meng · License #3512866
(321) 313-8086
Source:
Elliman
Added: Jun 15
Changed: Jul 10
Last Checked: Jul 24 at 7:36AM
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 Qinghe Meng
Investment Insights
Based on property information with market context.
This reinforced concrete commercial building offers a durable, roof-structure extension design intended for long-term performance. The property’s floor plan is described as flexible, supporting a range of compatible commercial uses, including retail, restaurant, medical, educational, fitness, entertainment, cultural, professional office, showroom, and corporate headquarters operations. The building configuration and construction are positioned to accommodate different tenant requirements while maintaining a strong, structurally oriented base.
Located on W Colonial Drive (SR 50) in the heart of Orlando’s Chinatown, the property is positioned adjacent to Enson Market. The site benefits from high-visibility exposure along one of Central Florida’s major commercial corridors. Access to the broader Orlando region is supported by convenient proximity to I-4 and SR 408, with Downtown Orlando described as just minutes away.
For buyers seeking an owner-occupant option or an adaptable commercial platform, the building’s flexible use set and reinforced concrete construction can support a variety of service and retail concepts under one roof. For investors and operators evaluating properties on established retail corridors, this asset’s mixed-use compatibility and prominent frontage on SR 50 may be attractive for tenants looking for a durable, versatile space.
Located on W Colonial Drive (SR 50) in the heart of Orlando’s Chinatown, the property is positioned adjacent to Enson Market. The site benefits from high-visibility exposure along one of Central Florida’s major commercial corridors. Access to the broader Orlando region is supported by convenient proximity to I-4 and SR 408, with Downtown Orlando described as just minutes away.
For buyers seeking an owner-occupant option or an adaptable commercial platform, the building’s flexible use set and reinforced concrete construction can support a variety of service and retail concepts under one roof. For investors and operators evaluating properties on established retail corridors, this asset’s mixed-use compatibility and prominent frontage on SR 50 may be attractive for tenants looking for a durable, versatile space.
Key Highlights
- Reinforced concrete commercial building built in 1989 with approximately 10,555 SF.
- Flexible interior layout suitable for multiple permitted uses including restaurant, retail, medical, educational, and fitness.
- Also compatible with entertainment, cultural, professional office, showroom, and corporate headquarters operations.
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
$207,267
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
8.29%
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%
$4,145,340
$4.1M
Cap Rate 7%
$2,960,957
$3.0M
Cap Rate 9%
$2,302,967
$2.3M
Market Conditions
NOI Build-Up for 10,555 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
$306.5K $29.04/SF
− Vacancy
−$10.4K −$0.99/SF
EGI
$296.1K $28.05/SF
− OpEx
−$88.8K −$8.42/SF
NOI
$207.3K $19.64/SF
Area
Orlando, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
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%
$4,145,340
Cap Rate 7%
$2,960,957
Cap Rate 9%
$2,302,967
Alternative Uses
Best Use
Retail
$2.96M
$2.59M – $3.45M
NOI $207,267 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.40M
$2.98M – $3.97M
NOI $238,009 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,249
Businesses Nearby
127k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 27%
Groceries 9%
Apparel 2%
dd's DISCOUNTS
Shops & Services
27,173 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
15,726 visits/mo
0.2 miles
Wendy's
Dining
13,587 visits/mo
0.2 miles
Chase Bank
Shops & Services
12,741 visits/mo
0.2 miles
Aldi
Groceries
11,026 visits/mo
0.4 miles
Demographics for 32808, FL
52,551
Population
21,291
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
78%
High-School Grad
11.9 sq mi
ZIP Area
4,416
Density / Sq Mi
$47,575
Median Household Income
$31,180
Median Earnings
$1,375
Median Rent
$218,600
Median Home Value
Market
Vacancy Rate% for Retail in Orlando, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Reinforced concrete building with flexible interior layout for retail, medical, office, and other compatible commercial uses.
Where is this retail space located?
The property is located at 5068 W COLONIAL Dr 15 Orlando, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Reinforced concrete commercial building built in 1989 with approximately 10,555 SF.; Flexible interior layout suitable for multiple permitted uses including restaurant, retail, medical, educational, and fitness.; Also compatible with entertainment, cultural, professional office, showroom, and corporate headquarters operations.
