Leased Laundromat Retail
For Sale
$2,500,000
803 N Park Avenue, Apopka, FL 32712
Retail storefront currently leased to a long-term laundromat tenant under C-C zoning.
Property Size5,352 SF
Price / SF$467.12
Days on Market720
Property Features for 803 N Park Avenue
General Information
Standard status
Active
Size
5,352 SF
Property subtype
Commercial
Zoning
C-C
Building Details
Year Built
1973
Listing Agency:
KELLY RIGHT REAL ESTATE
Listed By:
Samih Sadiq · License #3577381
(407) 666-7699
Source:
Realtygroupfl
Added: Sep 13, 2024
Changed: Aug 31
Last Checked: Sep 1 at 9:07PM
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 KELLY RIGHT REAL ESTATE
Investment Insights
Based on property information with market context.
This retail storefront property is currently leased to a long-term laundromat tenant. The seller is also considering combining this parcel with another parcel immediately behind it.
The property is zoned C-C. Plans are available for a new strip center that was intended to be built next to the existing property, and a survey is also available. Seller is willing to share plans with qualified buyers.
The seller is marketing the asset as a stand-alone opportunity with the option to pursue an additional combined-parcel approach, subject to buyer due diligence and verification of any development plans.
The property is zoned C-C. Plans are available for a new strip center that was intended to be built next to the existing property, and a survey is also available. Seller is willing to share plans with qualified buyers.
The seller is marketing the asset as a stand-alone opportunity with the option to pursue an additional combined-parcel approach, subject to buyer due diligence and verification of any development plans.
Key Highlights
- Retail storefront leased to a long‑term laundromat tenant
- Zoned C‑C
- Seller is willing to share plans for a new strip center proposed to be built next to the property
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
$105,096
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
4.20%
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%
$2,101,920
$2.1M
Cap Rate 7%
$1,501,371
$1.5M
Cap Rate 9%
$1,167,733
$1.2M
Market Conditions
NOI Build-Up for 5,352 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
$155.4K $29.04/SF
− Vacancy
−$5.3K −$0.99/SF
EGI
$150.1K $28.05/SF
− OpEx
−$45.0K −$8.42/SF
NOI
$105.1K $19.64/SF
Area
Orange County, FL
Vacancy
3.40%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
30.00%
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%
$2,101,920
Cap Rate 7%
$1,501,371
Cap Rate 9%
$1,167,733
Alternative Uses
Best Use
Retail
$1.50M
$1.31M – $1.75M
NOI $105,096 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,612 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 45%
Electronics 5%
Taco Bell
Dining
9,090 visits/mo
0.4 miles
Family Dollar
Shops & Services
7,726 visits/mo
0.5 miles
O'Reilly Auto Parts
Shops & Services
3,141 visits/mo
0.5 miles
Cricket Wireless Authorized Retailer
Electronics
1,254 visits/mo
0.4 miles
Pizza Hut
Dining
1,195 visits/mo
0.4 miles
Demographics for 32712, FL
50,085
Population
17,601
Households
2.8
Avg Household Size
41
Median Age
37%
College-Educated
90%
High-School Grad
71.5 sq mi
ZIP Area
700
Density / Sq Mi
$106,264
Median Household Income
$47,049
Median Earnings
$1,995
Median Rent
$389,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail storefront currently leased to a long-term laundromat tenant under C-C zoning.
Where is this retail space located?
The property is located at 803 N Park Avenue Apopka, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Retail storefront leased to a long‑term laundromat tenant; Zoned C‑C; Seller is willing to share plans for a new strip center proposed to be built next to the property
