Renovated Warehouse with Grade-Level
For Sale
$819,000
638 Hewett, Orlando, FL 32807
C-1-zoned industrial building with refreshed office space, substantial clear height, and upgraded electrical service.
Property Size3,432 SF
Price / SF$232.67
Days on Market51
Property Features for 638 Hewett
General Information
Standard status
Active
Size
3,432 SF
Property subtype
Commercial
Zoning
C-1
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
18 ft
Office Build-Out
770 SF
Drive-In Doors
2
Power
200 amps
Three-Phase Power
Yes
Additional Details
Asking Price
$819,000
Building Details
Buildings
1
Building Size
3,432 SF
Listing Agency:
C BRENNER INC
(407) 677-1700
Listed By:
Ben Brenner · License #3278773
(407) 677-1700
Source:
Cbrenner
Added: Jul 11
Changed: Aug 27
Last Checked: Aug 29 at 5:48AM
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 C BRENNER INC
Investment Insights
Based on property information with market context.
This freestanding warehouse includes 770 SF of office space and has undergone significant improvements, including a new roof, updated electrical systems, and a newly finished office build-out. The building offers an 18-foot clear height, two grade-level doors measuring 16 feet by 12 feet, and 3-phase 200A electrical service. Two auto lifts remain in place.
The property is located at 638 Hewett in Orlando, with visibility from HWY 436, which carries an average of 57,000 daily vehicles. C-1 zoning supports a range of commercial and light industrial applications, including contractor warehouse operations, appliance repair and sales, and auto parts or tire sales. Auto repair is not permitted, although oil changes are allowed.
The property is located at 638 Hewett in Orlando, with visibility from HWY 436, which carries an average of 57,000 daily vehicles. C-1 zoning supports a range of commercial and light industrial applications, including contractor warehouse operations, appliance repair and sales, and auto parts or tire sales. Auto repair is not permitted, although oil changes are allowed.
Key Highlights
- 18‑foot clear height
- Two 16‑foot by 12‑foot grade‑level doors
- 770 SF of office space with fresh build‑out
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
$65,736
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
8.03%
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%
$1,314,720
$1.3M
Cap Rate 7%
$939,086
$939.1K
Cap Rate 9%
$730,400
$730.4K
Market Conditions
NOI Build-Up for 3,520 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
$105.6K $30.00/SF
− Vacancy
−$18.0K −$5.10/SF
EGI
$87.6K $24.90/SF
− OpEx
−$21.9K −$6.23/SF
NOI
$65.7K $18.67/SF
Area
Orlando, FL
Vacancy
17.00%
Lease Rate
$30.00 /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%
$1,314,720
Cap Rate 7%
$939,086
Cap Rate 9%
$730,400
Alternative Uses
Best Use
Office B
$939.1K
$821.7K – $1.10M
NOI $65,736 @ 7.0% cap · market cap 8.03%
Second Best
Warehouse
$341.1K
$298.5K – $398.0K
NOI $23,877 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$1.13M
$992.2K – $1.32M
NOI $79,374 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
2
Drive-in doors
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32807, FL
34,384
Population
13,906
Households
2.5
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
8.4 sq mi
ZIP Area
4,093
Density / Sq Mi
$59,583
Median Household Income
$32,667
Median Earnings
$1,471
Median Rent
$247,700
Median Home Value
Market
Vacancy Rate% for Office in Orlando, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - C-1-zoned industrial building with refreshed office space, substantial clear height, and upgraded electrical service.
Where is this warehouse located?
The property is located at 638 Hewett Orlando, FL.
What is the asking price?
The asking price for this property is $819,000.
What are key features of this property?
This property features: 18‑foot clear height; Two 16‑foot by 12‑foot grade‑level doors; 770 SF of office space with fresh build‑out
