Leased Multifamily Property Near
For Sale
Contact for pricing
804 Concord St, Orlando, FL 32805
Fully leased 5-unit property with development potential near Downtown Orlando.
Property Size3,686 SF
Lot Size0.46 Acres
Price / SF$298.43
Days on Market147
Property Features for 804 Concord St
General Information
Standard status
Active
Size
3,686 SF
Lot size
0.46 Acres
Property subtype
Multifamily
Zoning
R-2B
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$69,700
Building Details
Year Built
1955
Year Renovated
2025
Buildings
3
Stories
1
Units
5
Tenancy
Multi
Listing Agency:
eXp Commercial
(202) 875-9986
Listed By:
Bryan Sona · License #SL3554851
Source:
Crexi
Added: Mar 21
Changed: Aug 8
Last Checked: Aug 8 at 2:36PM
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 eXp Commercial
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire a fully leased 5-unit income property situated on a 0.46-acre infill site. The property is located near Downtown Orlando’s Creative Village. The existing zoning allows for the development of up to seven units. Currently, the property operates as a 5-unit rental, generating stable income. The zoning allows for up to seven units, creating a clear path for additional density and future income growth. This property is suited for multifamily investors seeking stable cash flow and developers looking for small infill density opportunities. It may also be of interest to 1031 exchange buyers targeting income with upside. The property contains 3,686 square feet.
Key Highlights
- Fully leased 5‑unit income property generating stable income.
- Zoning allows for up to seven units, creating potential for increased density.
- Located on a 0.46‑acre infill site near Downtown Orlando’s Creative Village.
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
$47,767
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
4.34%
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%
$955,340
$955.3K
Cap Rate 7%
$682,386
$682.4K
Cap Rate 9%
$530,744
$530.7K
Market Conditions
NOI Build-Up for 3,686 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
$92.9K $25.20/SF
− Vacancy
−$6.0K −$1.64/SF
EGI
$86.8K $23.56/SF
− OpEx
−$39.1K −$10.60/SF
NOI
$47.8K $12.96/SF
Area
Orlando, FL
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$955,340
Cap Rate 7%
$682,386
Cap Rate 9%
$530,744
Alternative Uses
Best Use
Apartment 5plus
$682.4K
$597.1K – $796.1K
NOI $47,767 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,117 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,422
Businesses Nearby
Explore this area
Business Placement
Demographics for 32805, FL
23,331
Population
9,332
Households
2.5
Avg Household Size
39
Median Age
16%
College-Educated
78%
High-School Grad
6.8 sq mi
ZIP Area
3,431
Density / Sq Mi
$39,425
Median Household Income
$29,592
Median Earnings
$1,112
Median Rent
$226,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased 5-unit property with development potential near Downtown Orlando.
Where is this apartment building located?
The property is located at 804 Concord St Orlando, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully leased 5‑unit income property generating stable income.; Zoning allows for up to seven units, creating potential for increased density.; Located on a 0.46‑acre infill site near Downtown Orlando’s Creative Village.
