Single-Tenant Office
New
For Sale
$8,500,000
8545 Commodity Cir, Orlando, FL 32819
Two-story corporate facility with an absolute net lease and annual escalations.
Property Size33,838 SF
Price / SF$251.20
Days on Market3
Property Features for 8545 Commodity Cir
General Information
Standard status
Active
Size
33,838 SF
Property subtype
Single-Tenant Office
Amenities
Absolute Net Lease Office with 5+ Years Remaining
Located in the Tourist Corridor - Near Universal, SeaWorld, Orlando Convention Center, International Drive, and the Orlando International Airport
Financially Strong Tenant with Lengthy Operating History in the Buildign
Building Details
Building Size
33,838 SF
Year Built
1999
Listed By:
Will Harding · License #License(s): FL: BK3377411
(904) 672-1445
Source:
Marcusmillichap
Added: Sep 1
Last Checked: Sep 2 at 1:42PM
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 Will Harding
Investment Insights
Based on property information with market context.
This two-story office building contains 33,838 square feet and was constructed in 1999. Vacation Innovations occupies the property as its headquarters, with the lease structured on an absolute net basis and including annual escalations. The single-tenant configuration provides a clearly defined occupancy profile for an office investor.
The property is located at 8545 Commodity Cir in Orlando’s Southpark Office Center, within the city’s Tourist Corridor. The surrounding office developments were established from the mid-1990s through the early 2000s and are positioned near I-4. Corporate and regional occupants in the broader area include Diamond Resorts, Vistana, Westgate Resorts, Holiday Inn Club Vacations, CVS Health, and Costco.
The property is located at 8545 Commodity Cir in Orlando’s Southpark Office Center, within the city’s Tourist Corridor. The surrounding office developments were established from the mid-1990s through the early 2000s and are positioned near I-4. Corporate and regional occupants in the broader area include Diamond Resorts, Vistana, Westgate Resorts, Holiday Inn Club Vacations, CVS Health, and Costco.
Key Highlights
- 33,838‑square‑foot two‑story office building
- Single‑tenant occupancy by Vacation Innovations
- Absolute net lease structure with annual escalations
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
$631,925
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
7.43%
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%
$12,638,500
$12.6M
Cap Rate 7%
$9,027,500
$9.0M
Cap Rate 9%
$7,021,389
$7.0M
Market Conditions
NOI Build-Up for 33,838 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
$1.02M $30.00/SF
− Vacancy
−$172.6K −$5.10/SF
EGI
$842.6K $24.90/SF
− OpEx
−$210.6K −$6.23/SF
NOI
$631.9K $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%
$12,638,500
Cap Rate 7%
$9,027,500
Cap Rate 9%
$7,021,389
Alternative Uses
Best Use
Office B
$9.03M
$7.90M – $10.53M
NOI $631,925 @ 7.0% cap · market cap 7.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.90M
$9.54M – $12.72M
NOI $763,028 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,291
Businesses Nearby
Explore this area
Business Placement
Demographics for 32819, FL
30,857
Population
14,689
Households
2.1
Avg Household Size
40
Median Age
51%
College-Educated
92%
High-School Grad
20.7 sq mi
ZIP Area
1,491
Density / Sq Mi
$94,386
Median Household Income
$47,166
Median Earnings
$1,947
Median Rent
$454,000
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?
Office building - Two-story corporate facility with an absolute net lease and annual escalations.
Where is this office building located?
The property is located at 8545 Commodity Cir Orlando, FL.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: 33,838‑square‑foot two‑story office building; Single‑tenant occupancy by Vacation Innovations; Absolute net lease structure with annual escalations
