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    Downtown Orlando Versatile Office Space Title is generated by Realmo AI

    827 IRMA AVENUE, Orlando, FL 32803

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    For Lease
    $4,000/Mo $29 SF/Yr (calc)

    Office - ORLANDO, FL

    Type:Office
    Property size:
    1,635 SF
    Lot size:
    0.20 Acres
    Added:
    Dec 29, 2025
    Days on Market:
    133
    Last Refresh:
    May 11 at 4:06 am

    Property Features for 827 IRMA AVENUE

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    MXD-2/T
    Security features
    Security System
    Pets allowed
    No
    Standard status
    Active
    APN
    24-22-29-5440-02-070
    Size
    1,635 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    9639

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1935
    Flooring type
    Hardwood
    Building materials
    Concrete, Stucco, Wood Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Yarmmys Vargas

    Listing agent Yarmmys Vargas License #3456060

    Listing office ZEN LIVING HOMES LLC 1515 S. Orlando Ave. Suite A, Orlando, FL

    Listing date Dec 29, 2025

    MLS# O6369982 Listing URL

    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.

    HighLights

    • Prime North Downtown Orlando location with easy access to I4/Ivanhoe, Lake Highland, and the Orange County Courthouse.
    • Versatile office space suitable for various businesses (attorneys, construction, real estate, therapy, etc.).
    • Features 5 offices with potential for a 6th, a welcoming waiting room, and a conference room.
    • Modern finishes, ample natural light, and a convenient layout.
    • 4‑6 dedicated parking spots plus available city street parking.
    • Located in a thriving business area surrounded by established businesses and restaurants.

    Overview

    This versatile office building is located in North Downtown Orlando, offering convenient access to I4 and Ivanhoe, and proximity to Lake Highland and the Orange County Courthouse. The property is suitable for businesses such as attorneys, construction companies, title and mortgage firms, real estate agencies, or therapy offices. The office space features five offices with the potential for a sixth, a welcoming waiting room, and a conference room suitable for meetings and presentations. The layout promotes productivity and success with modern finishes and ample natural light. The property includes four to six parking spots in the back, with additional city street parking available. Situated in a thriving business area, the building is surrounded by established businesses and restaurants, with easy access to major highways. The property is currently undergoing handyman work.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Meehle Law Law Firm Magnolia Immigration Law Law Firm The Law Office Of Vaneskha ... Law Firm Kelley Carson Law Law Firm Cash & Associates, PA Financial Advisor

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Brevard
    State
    Florida
    Longitude
    -81.375097
    Latitude
    28.555943

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    FAQs

    What type of property is this?
    Office building - Spacious office building in North Downtown Orlando near I4/Ivanhoe.
    Where is this office building located?
    The property is located at 827 IRMA AVENUE Orlando, FL.
    What is the lease rate?
    The lease rate is $4,000 /Mo.
    What are key features of this property?
    This property features: Prime North Downtown Orlando location with easy access to I4/Ivanhoe, Lake Highland, and the Orange County Courthouse.; Versatile office space suitable for various businesses (attorneys, construction, real estate, therapy, etc.).; Features 5 offices with potential for a 6th, a welcoming waiting room, and a conference room.
    (407) 988-6364
    We can help!
    Listing Contact
    Yarmmys Vargas
    Real Estate License ID: 3456060
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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