Historic Two-Story Office
New
For Sale
Contact for pricing
605 S Main Ave, Minneola, FL 34715
Multi-building commercial site with auxiliary structures, an additional lot, and ample parking for business operations.
Property Size1,892 SF
Lot Size0.74 Acres
Price / SF$449.26
Days on Market4
Property Features for 605 S Main Ave
General Information
Standard status
Active
Size
1,892 SF
Lot size
0.74 Acres
Property subtype
Special Purpose
Additional Details
Road Access
Yes
Building Details
Year Built
1910
Buildings
3
Listing Agency:
Coldwell Banker Tony Hubbard Realty
(352) 406-9924
Listed By:
Tasha Quilling-Hofer · License #SL3027534
Source:
Crexi
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 2:10AM
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 Coldwell Banker Tony Hubbard Realty
Investment Insights
Based on property information with market context.
This office property centers on a historic two-story building constructed in 1910, complemented by two smaller structures that can support storage, office, or workshop functions. The sale also includes an additional lot, creating a multi-building configuration with approximately 0.74± acres in total. The property previously operated as a salon for more than 20 years, providing an established commercial setting for its next use.
Located at 605 S. Main Ave in Minneola, the property offers visibility and access from S. Main Street. The additional lot contributes flexibility for parking, outdoor space, or future expansion. The site’s combination of historic character, multiple buildings, and usable land supports a range of office-oriented commercial applications.
Located at 605 S. Main Ave in Minneola, the property offers visibility and access from S. Main Street. The additional lot contributes flexibility for parking, outdoor space, or future expansion. The site’s combination of historic character, multiple buildings, and usable land supports a range of office-oriented commercial applications.
Key Highlights
- Historic two‑story building constructed in 1910
- Approximately 0.74± acres across the property and additional lot
- Two smaller buildings provide separate space for storage, offices, or workshops
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
$28,266
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
3.33%
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%
$565,320
$565.3K
Cap Rate 7%
$403,800
$403.8K
Cap Rate 9%
$314,067
$314.1K
Market Conditions
NOI Build-Up for 1,892 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
$45.4K $24.00/SF
− Vacancy
−$7.7K −$4.08/SF
EGI
$37.7K $19.92/SF
− OpEx
−$9.4K −$4.98/SF
NOI
$28.3K $14.94/SF
Area
Lake 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%
$565,320
Cap Rate 7%
$403,800
Cap Rate 9%
$314,067
Alternative Uses
Best Use
Office B
$403.8K
$353.3K – $471.1K
NOI $28,266 @ 7.0% cap · market cap 3.33%
Second Best
Retail
$319.8K
$279.8K – $373.1K
NOI $22,385 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$538.4K
$471.1K – $628.2K
NOI $37,689 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Explore this area
Business Placement
Demographics for 34715, FL
22,763
Population
8,877
Households
2.6
Avg Household Size
40
Median Age
27%
College-Educated
89%
High-School Grad
31.5 sq mi
ZIP Area
723
Density / Sq Mi
$97,644
Median Household Income
$46,750
Median Earnings
$2,067
Median Rent
$407,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Multi-building commercial site with auxiliary structures, an additional lot, and ample parking for business operations.
Where is this office units located?
The property is located at 605 S Main Ave Minneola, 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: Historic two‑story building constructed in 1910; Approximately 0.74± acres across the property and additional lot; Two smaller buildings provide separate space for storage, offices, or workshops
