Freestanding Two-Story Office
For Sale
Contact for pricing
833 Highland Avenue, Orlando, FL 32803
Masonry construction, individual office rooms, and month-to-month occupancy provide a clearly configured commercial workspace.
Property Size3,453 SF
Price / SF$383.72
Days on Market25
Property Features for 833 Highland Avenue
General Information
Standard status
Active
Size
3,453 SF
Total Parking Spaces
10
Property subtype
Office
Zoning
O-1/T, City of Orlando
Additional Details
Office Units
6
Building Details
Year Built
1972
Buildings
1
Stories
2
Units
12
Tenancy
Multi
Building Size
3,453 SF
Construction
masonry
Listing Agency:
The Bywater Company
Listed By:
Sallie Jane Bywater · License #SL3660614
Source:
Crexi
Added: Aug 6
Changed: Aug 29
Last Checked: Aug 29 at 7:51PM
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 The Bywater Company
Investment Insights
Based on property information with market context.
This freestanding office property contains 3,453 square feet in a two-story masonry building. The interior includes six individual offices, with two common restrooms on each floor for four restrooms overall. Ten parking spaces serve the property, including one ADA-compliant space. The building has remained under the same ownership since 1999 and is currently occupied through month-to-month leases, allowing the existing tenancy to continue if desired.
Located at 833 Highland Avenue in Orlando, the property is near Lake Highland Prep. Zoning is O-1/T under the City of Orlando.
Located at 833 Highland Avenue in Orlando, the property is near Lake Highland Prep. Zoning is O-1/T under the City of Orlando.
Key Highlights
- 3,453‑square‑foot freestanding office building
- Two‑story masonry construction with six individual offices
- Four total restrooms, arranged as two common restrooms per floor
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
$64,485
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
4.87%
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%
$1,289,700
$1.3M
Cap Rate 7%
$921,214
$921.2K
Cap Rate 9%
$716,500
$716.5K
Market Conditions
NOI Build-Up for 3,453 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
$103.6K $30.00/SF
− Vacancy
−$17.6K −$5.10/SF
EGI
$86.0K $24.90/SF
− OpEx
−$21.5K −$6.23/SF
NOI
$64.5K $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%
$1,289,700
Cap Rate 7%
$921,214
Cap Rate 9%
$716,500
Alternative Uses
Best Use
Office B
$921.2K
$806.1K – $1.07M
NOI $64,485 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$973.3K – $1.30M
NOI $77,863 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
3,495
Businesses Nearby
Explore this area
Business Placement
Demographics for 32803, FL
21,003
Population
12,225
Households
1.7
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
3,089
Density / Sq Mi
$101,401
Median Household Income
$61,439
Median Earnings
$1,823
Median Rent
$421,300
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?
Office building - Masonry construction, individual office rooms, and month-to-month occupancy provide a clearly configured commercial workspace.
Where is this office building located?
The property is located at 833 Highland Avenue Orlando, FL.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 3,453‑square‑foot freestanding office building; Two‑story masonry construction with six individual offices; Four total restrooms, arranged as two common restrooms per floor
