Retail Building Near SODO
For Sale
$1,700,000
515 West Kaley Street, Orlando, FL 32805
2,527 SF building near upcoming SODO Station development.
Property Size2,527 SF
Price / SF$672.73
Days on Market275
Property Features for 515 West Kaley Street
General Information
Standard status
Active
Size
2,527 SF
Property subtype
Retail
Building Details
Building Size
2,527 SF
Listing Agency:
NAI Realvest - Orlando
(407) 948-8029
Listed By:
Al Fishalow · License #SL3369330
(407) 948-8029
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 13
Last Checked: Aug 22 at 4:30AM
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 NAI Realvest - Orlando
Investment Insights
Based on property information with market context.
The property features a 2,527 square foot building situated on a 0.41 acre lot. It is located within the SODO Plan Area, a designated special planning district near downtown Orlando, and next to the upcoming SODO Station development. The property's location in an Opportunity Zone may provide potential tax advantages. It is strategically located near the Orlando Health Campus, offering high visibility from I-4 and close proximity to Orlando’s Central Business District. The property benefits from a corner location next to the I-4 and Kaley Street interchange. It is located within the City of Orlando municipality and has access to city utilities including water, sewer, and power.
Key Highlights
- Next to the upcoming SODO Station development
- High visibility from I‑4 and close proximity to Orlando’s Central Business District (CBD)
- Opportunity Zone designation providing potential tax advantages
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
$49,622
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
2.92%
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%
$992,440
$992.4K
Cap Rate 7%
$708,886
$708.9K
Cap Rate 9%
$551,356
$551.4K
Market Conditions
NOI Build-Up for 2,527 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
$73.4K $29.04/SF
− Vacancy
−$2.5K −$0.99/SF
EGI
$70.9K $28.05/SF
− OpEx
−$21.3K −$8.42/SF
NOI
$49.6K $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%
$992,440
Cap Rate 7%
$708,886
Cap Rate 9%
$551,356
Alternative Uses
Best Use
Retail
$708.9K
$620.3K – $827.0K
NOI $49,622 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$814.0K
$712.3K – $949.7K
NOI $56,982 @ 7.0% cap · market cap 3.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,333
Businesses Nearby
102k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 87%
Shops & Services 10%
Home Improvements & Furnishings 3%
Target
Superstores
88,771 visits/mo
0.5 miles
Mobil
Shops & Services
5,357 visits/mo
0.1 miles
Chevron
Shops & Services
5,308 visits/mo
0.5 miles
Graybar
Home Improvements & Furnishings
1,757 visits/mo
0.3 miles
Airgas
Home Improvements & Furnishings
907 visits/mo
0.3 miles
Demographics for 32805, FL
23,331
Population
9,332
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
78%
High-School Grad
6.8 sq mi
ZIP Area
3,431
Density / Sq Mi
$39,425
Median Household Income
$29,592
Median Earnings
$1,112
Median Rent
$226,100
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 property - 2,527 SF building near upcoming SODO Station development.
Where is this retail property located?
The property is located at 515 West Kaley Street Orlando, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Next to the upcoming SODO Station development; High visibility from I‑4 and close proximity to Orlando’s Central Business District (CBD); Opportunity Zone designation providing potential tax advantages
