Oviedo Flex Space
For Sale
Contact for pricing
551 S Econ Cir, Oviedo, FL 32765
10,000 SF flex space near UCF and major highways.
Property Size10,000 SF
Price / SF$290
Days on Market191
Property Features for 551 S Econ Cir
General Information
Standard status
Active
Size
10,000 SF
Class
B
Property subtype
Industrial
Zoning
pd
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
2009
Buildings
1
Listed By:
Jason Sellers · License #SL3245645
Source:
Crexi
Added: Feb 3
Changed: Aug 8
Last Checked: Aug 8 at 2:51PM
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 Jason Sellers
Investment Insights
Based on property information with market context.
This 10,000 square foot building in Oviedo offers a blend of office and industrial space, suitable for an owner/user. The layout includes 1,000 square feet of office space with a lobby and reception area, complemented by 9,000 square feet of storage. The property is equipped with 3-phase power, featuring both 400 amp and 200 amp panels. Loading and unloading are facilitated by two docks, one dock-high and one at ground level. Its location provides convenient access to UCF, Central Florida Research Park, and major highways such as SR417, SR408, and Hwy 50.
Key Highlights
- Combination of office (1,000 sq ft) and industrial/storage space (9,000 sq ft) within a single 10,000 sq ft building.
- Convenient location near UCF, Central Florida Research Park, SR417, SR408, and Hwy 50.
- Equipped with 3‑phase power (400 amp and 200 amp panels).
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
$149,400
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
5.15%
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%
$2,988,000
$3.0M
Cap Rate 7%
$2,134,286
$2.1M
Cap Rate 9%
$1,660,000
$1.7M
Market Conditions
NOI Build-Up for 10,000 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
$240.0K $24.00/SF
− Vacancy
−$40.8K −$4.08/SF
EGI
$199.2K $19.92/SF
− OpEx
−$49.8K −$4.98/SF
NOI
$149.4K $14.94/SF
Area
Seminole County, FL
Vacancy
17.00%
Lease Rate
$24.00 /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%
$2,988,000
Cap Rate 7%
$2,134,286
Cap Rate 9%
$1,660,000
Alternative Uses
Best Use
Office B
$2.13M
$1.87M – $2.49M
NOI $149,400 @ 7.0% cap · market cap 5.15%
Second Best
Warehouse
$969.0K
$847.9K – $1.13M
NOI $67,833 @ 7.0% cap · market cap 2.34%
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,200 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
397
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32765, FL
65,228
Population
23,389
Households
2.8
Avg Household Size
36
Median Age
53%
College-Educated
96%
High-School Grad
39.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$99,161
Median Household Income
$48,595
Median Earnings
$1,870
Median Rent
$418,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Croutons Catering — 3836 Heritage Oaks Ct, Orlando, FL 32828
- Bar-Tini Orlando — 3645 Oakdale Cir, Oviedo, FL 32765
Frequently Asked Questions
What type of property is this?
Flex space - 10,000 SF flex space near UCF and major highways.
Where is this flex space located?
The property is located at 551 S Econ Cir Oviedo, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Combination of office (1,000 sq ft) and industrial/storage space (9,000 sq ft) within a single 10,000 sq ft building.; Convenient location near UCF, Central Florida Research Park, SR417, SR408, and Hwy 50.; Equipped with 3‑phase power (400 amp and 200 amp panels).
