Absolute NNN Office
For Sale
Contact for pricing
7335 LAKE ELLENOR DR, Orlando, FL 32809
Fully renovated two-story building secured by a new long-term lease with tenant-paid operating obligations.
Property Size7,742 SF
Price / SF$619.99
Days on Market11
Property Features for 7335 LAKE ELLENOR DR
General Information
Standard status
Active
Size
7,742 SF
Class
A
Total Parking Spaces
25
Property subtype
Office
Zoning
Ind-3/Ind-5
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$300,000
Building Details
Year Built
1984
Year Renovated
2025
Buildings
1
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Vanwald & Associates
Listed By:
Costel Vanatoru · License #FL BK3139052
Source:
Crexi
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 9:38PM
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 Vanwald & Associates
Investment Insights
Based on property information with market context.
This two-story office property has undergone a comprehensive 2024–2025 modernization, including a new roof, HVAC system, exterior cladding, interior reconstruction, redesigned parking and landscaping, and monument signage. The building contains 7,599 ± SF on 0.63 ± acres and is secured by fencing and gates with 25 parking spaces. Zoning is Ind-3/Ind-5.
The property is fully leased under a new 120-month absolute NNN lease. The agreement includes two five-year renewal options and 5% rent escalations every five years, with corporate and personal guarantees. The tenant is responsible for operating expenses, real estate taxes, insurance, maintenance, repairs, the roof, and HVAC.
Access includes I-4, SR-528, John Young Parkway, International Drive, The Florida Mall, Orlando International Airport, and downtown Orlando.
The property is fully leased under a new 120-month absolute NNN lease. The agreement includes two five-year renewal options and 5% rent escalations every five years, with corporate and personal guarantees. The tenant is responsible for operating expenses, real estate taxes, insurance, maintenance, repairs, the roof, and HVAC.
Access includes I-4, SR-528, John Young Parkway, International Drive, The Florida Mall, Orlando International Airport, and downtown Orlando.
Key Highlights
- New 120‑month absolute NNN lease with two five‑year renewal options
- 2024–2025 modernization included roof, HVAC, exterior cladding, interiors, parking, landscaping, and signage
- 7,599 ± SF two‑story office building on 0.63 ± acres
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
$144,582
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
3.01%
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%
$2,891,640
$2.9M
Cap Rate 7%
$2,065,457
$2.1M
Cap Rate 9%
$1,606,467
$1.6M
Market Conditions
NOI Build-Up for 7,742 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
$232.3K $30.00/SF
− Vacancy
−$39.5K −$5.10/SF
EGI
$192.8K $24.90/SF
− OpEx
−$48.2K −$6.23/SF
NOI
$144.6K $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%
$2,891,640
Cap Rate 7%
$2,065,457
Cap Rate 9%
$1,606,467
Alternative Uses
Best Use
Office B
$2.07M
$1.81M – $2.41M
NOI $144,582 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.49M
$2.18M – $2.91M
NOI $174,578 @ 7.0% cap · market cap 3.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,700
Businesses Nearby
Explore this area
Business Placement
Demographics for 32809, FL
29,478
Population
10,674
Households
2.8
Avg Household Size
36
Median Age
23%
College-Educated
79%
High-School Grad
10.4 sq mi
ZIP Area
2,834
Density / Sq Mi
$52,203
Median Household Income
$30,985
Median Earnings
$1,368
Median Rent
$281,000
Median Home Value
Market
Vacancy Rate% for Office in Orlando, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Fully renovated two-story building secured by a new long-term lease with tenant-paid operating obligations.
Where is this nnn property located?
The property is located at 7335 LAKE ELLENOR DR Orlando, FL.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: New 120‑month absolute NNN lease with two five‑year renewal options; 2024–2025 modernization included roof, HVAC, exterior cladding, interiors, parking, landscaping, and signage; 7,599 ± SF two‑story office building on 0.63 ± acres
