Occupied Triplex with Separate
For Sale
$850,000
5214 JOSEPHINE STREET, Orlando, FL 32803
Single-story block construction combines individual laundry rooms with recent repiping and electrical updates.
Property Size2,472 SF
Price / SF$343.85
Days on Market9
Property Features for 5214 JOSEPHINE STREET
General Information
Standard status
Active
Size
2,472 SF
Property subtype
Triplex
Building Details
Year Built
1979
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Jackie Cavada-Barrero · License #3092257
Source:
Dennisrealty
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 6:33AM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
Built in 1979, this single-story block triplex contains approximately 2,472 square feet on an approximately 0.27-acre corner lot. The property includes three separately rented two-bedroom, one-bath residences, totaling six bedrooms and three bathrooms. Each unit has tile flooring and a dedicated laundry room, providing distinct living spaces and practical unit layouts. All three residences are occupied.
Capital work includes repiping and electrical updates completed across the units in 2021. One septic system was replaced in 2022, while the other was serviced and pumped in 2025. The property is near Baldwin Park restaurants, shopping, parks, and recreational amenities, with Downtown Orlando nearby. Colonial Drive and SR 408 provide access to employment, healthcare, shopping, and entertainment destinations throughout Central Florida.
Capital work includes repiping and electrical updates completed across the units in 2021. One septic system was replaced in 2022, while the other was serviced and pumped in 2025. The property is near Baldwin Park restaurants, shopping, parks, and recreational amenities, with Downtown Orlando nearby. Colonial Drive and SR 408 provide access to employment, healthcare, shopping, and entertainment destinations throughout Central Florida.
Key Highlights
- Three occupied units, each with 2 bedrooms and 1 bathroom
- Approximately 2,472 square feet on an approximately 0.27‑acre corner lot
- Single‑story block triplex built in 1979
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
$35,071
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
4.13%
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%
$701,420
$701.4K
Cap Rate 7%
$501,014
$501.0K
Cap Rate 9%
$389,678
$389.7K
Market Conditions
NOI Build-Up for 2,472 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
$53.4K $21.60/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$50.1K $20.27/SF
− OpEx
−$15.0K −$6.08/SF
NOI
$35.1K $14.19/SF
Area
Orlando, FL
Vacancy
6.17%
Lease Rate
$21.60 /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%
$701,420
Cap Rate 7%
$501,014
Cap Rate 9%
$389,678
Alternative Uses
Best Use
Multifamily LT 5
$501.0K
$438.4K – $584.5K
NOI $35,071 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$457.6K
$400.4K – $533.9K
NOI $32,035 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$796.3K
$696.8K – $929.0K
NOI $55,742 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,649
Businesses Nearby
Explore this area
Business Placement
Demographics for 32803, FL
21,003
Population
12,225
Households
1.7
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
3,089
Density / Sq Mi
$101,401
Median Household Income
$61,439
Median Earnings
$1,823
Median Rent
$421,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Single-story block construction combines individual laundry rooms with recent repiping and electrical updates.
Where is this triplex located?
The property is located at 5214 JOSEPHINE STREET Orlando, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Three occupied units, each with 2 bedrooms and 1 bathroom; Approximately 2,472 square feet on an approximately 0.27‑acre corner lot; Single‑story block triplex built in 1979
