Updated Office
For Sale
$485,000
657 MAITLAND Avenue, Altamonte Springs, FL 32701
Commercial Sale, ALTAMONTE SPRINGS, FL
Property Size1,518 SF
Lot Size0.27 Acres
Price / SF$319.50
Days on Market96
Property Features for 657 MAITLAND Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
MOR-1
Subdivision
STEWARTS SUB
Directions
Approximately one mile south of SR 436 on Maitland Ave in Altamonte Springs
Standard status
Active
APN
24-21-29-503-0F00-0090
Size
1,518 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S 40 FT OF LOT 9 + N 40 FT OF LOT 10 BLK F STEWARTS SUBD PB 3 PG 65
Tax Annual Amount
5813
Legal Description
S 40 FT OF LOT 9 + N 40 FT OF LOT 10 BLK F STEWARTS SUBD PB 3 PG 65
Utilities
Cooling system
Central Air
Building Details
Year built
1957
Floors in Building
1
Building materials
Block, Concrete, Stucco
Listing Agency:
SOUTHERN REALTY ENTERPRISES
(407) 869-0033
Listed By:
Frank Filippelli · License #BK316243
(407) 448-1042
Added: May 26
Changed: Aug 24
Last Checked: Aug 29 at 3:06PM
MLS# O6410776
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,518-square-foot office building occupies a 0.27-acre parcel and was constructed in 1957. The interior includes four private offices, a reception area, conference room, kitchen, and flexible space that can serve as an additional office or file room. Two restrooms support the layout, while central air provides cooling. Block, concrete, and stucco construction, along with recent interior updates and new fencing, are part of the improvements.
A concrete parking area provides seven spaces, and the driveway circulates around the building. The property carries MOR-1 zoning, with the source information identifying both residential and commercial zoning capability. Access is available to I-4, US 17-92, 436, and the 414/Maitland Boulevard corridor, with proximity to Winter Park, Maitland, and Altamonte Springs.
A concrete parking area provides seven spaces, and the driveway circulates around the building. The property carries MOR-1 zoning, with the source information identifying both residential and commercial zoning capability. Access is available to I-4, US 17-92, 436, and the 414/Maitland Boulevard corridor, with proximity to Winter Park, Maitland, and Altamonte Springs.
Key Highlights
- 1,518‑square‑foot office building on a 0.27‑acre parcel
- Four private offices plus reception, conference, kitchen, and flexible space
- Two restrooms and central air conditioning
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
$22,679
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
4.68%
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%
$453,580
$453.6K
Cap Rate 7%
$323,986
$324.0K
Cap Rate 9%
$251,989
$252.0K
Market Conditions
NOI Build-Up for 1,518 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
$36.4K $24.00/SF
− Vacancy
−$6.2K −$4.08/SF
EGI
$30.2K $19.92/SF
− OpEx
−$7.6K −$4.98/SF
NOI
$22.7K $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%
$453,580
Cap Rate 7%
$323,986
Cap Rate 9%
$251,989
Alternative Uses
Best Use
Office B
$324.0K
$283.5K – $378.0K
NOI $22,679 @ 7.0% cap · market cap 4.68%
Second Best
Mixed Use
$286.3K
$250.5K – $334.0K
NOI $20,038 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$432.0K
$378.0K – $504.0K
NOI $30,239 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
768
Businesses Nearby
Explore this area
Business Placement
Demographics for 32701, FL
23,265
Population
12,085
Households
1.9
Avg Household Size
40
Median Age
35%
College-Educated
93%
High-School Grad
5.6 sq mi
ZIP Area
4,154
Density / Sq Mi
$62,008
Median Household Income
$37,359
Median Earnings
$1,609
Median Rent
$258,100
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 building - A multi-room layout includes reception, conference, kitchen, flex space, restrooms, and dedicated parking.
Where is this office building located?
The property is located at 657 MAITLAND Avenue Altamonte Springs, FL.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 1,518‑square‑foot office building on a 0.27‑acre parcel; Four private offices plus reception, conference, kitchen, and flexible space; Two restrooms and central air conditioning
