Altamonte Springs Commercial Building
For Sale
Contact for pricing
890 North State Road 434, Altamonte Springs, FL 32714
Upgraded commercial building with redevelopment potential in a prime location.
Property Size14,924 SF
Lot Size1.20 Acres
Price / SF$227.82
Days on Market105
Property Features for 890 North State Road 434
General Information
Standard status
Active
Size
14,924 SF
Lot size
1.20 Acres
Property subtype
Retail
Zoning
C-G
Building Details
Year Built
1983
Listing Agency:
Mr. Rogers Group
Listed By:
Ryan Rogers · License #BK3143732
Source:
Crexi
Added: May 19
Changed: Aug 22
Last Checked: Aug 14 at 7:26AM
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 Mr. Rogers Group
Investment Insights
Based on property information with market context.
Located in Altamonte Springs, this upgraded two-story commercial building offers an opportunity for owner-users, investors, and potential retail redevelopment. The building has a size of 14,924 square feet and sits on 1.2 acres. It features frontage and visibility along State Road 434, with high daily traffic counts and strong signage exposure. The property provides access to SR 436, Interstate 4, Maitland, Longwood, Winter Park, Downtown Orlando, and surrounding Seminole County business hubs. The property is suited for a professional office headquarters, medical office conversion, corporate office, law firm, financial services company, engineering firm, real estate headquarters, insurance agency, technology company, educational use, or multi-tenant office investment, while also offering future potential for retail, showroom, service retail, or mixed commercial use opportunities subject to zoning and municipal approval. The flexible floor plan allows an owner-user to occupy the entire building or a portion while benefiting from in-place rental income, with an existing tenant currently occupying approximately 50%–65% of the building. The property features executive corner offices with private bathrooms, elevator service, secure card-gated entry, conference rooms, collaborative workspaces, break rooms, common areas, and flexible office configurations. Recent capital improvements include remodeled interiors, new rooftop HVAC units, and a new roof membrane with warranty. The property is located near the planned Altamonte Town Center redevelopment and benefits from strong demographics, expanding redevelopment activity, and continued economic growth throughout the Orlando metro area. It is surrounded by retail, restaurants, medical facilities, hotels, and executive housing communities.
Key Highlights
- High‑visibility location on State Road 434 with high daily traffic counts and strong signage exposure.
- Recently upgraded ±14,924 SF two‑story building with remodeled interiors, new roof membrane with warranty, and new rooftop HVAC units.
- Flexible floor plan suitable for owner‑user or multi‑tenant occupancy, with existing tenant providing in‑place rental income.
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
$222,965
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
6.56%
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%
$4,459,300
$4.5M
Cap Rate 7%
$3,185,214
$3.2M
Cap Rate 9%
$2,477,389
$2.5M
Market Conditions
NOI Build-Up for 14,924 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
$358.2K $24.00/SF
− Vacancy
−$60.9K −$4.08/SF
EGI
$297.3K $19.92/SF
− OpEx
−$74.3K −$4.98/SF
NOI
$223.0K $14.94/SF
Area
Seminole County, FL
Vacancy
17.00%
Lease Rate
$24.00 /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%
$4,459,300
Cap Rate 7%
$3,185,214
Cap Rate 9%
$2,477,389
Alternative Uses
Best Use
Office B
$3.19M
$2.79M – $3.72M
NOI $222,965 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.25M
$3.72M – $4.95M
NOI $297,286 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
Explore this area
Business Placement
Demographics for 32714, FL
38,049
Population
16,722
Households
2.3
Avg Household Size
37
Median Age
37%
College-Educated
92%
High-School Grad
8.5 sq mi
ZIP Area
4,476
Density / Sq Mi
$67,333
Median Household Income
$39,714
Median Earnings
$1,641
Median Rent
$292,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Upgraded commercial building with redevelopment potential in a prime location.
Where is this office building located?
The property is located at 890 North State Road 434 Altamonte Springs, FL.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: High‑visibility location on State Road 434 with high daily traffic counts and strong signage exposure.; Recently upgraded ±14,924 SF two‑story building with remodeled interiors, new roof membrane with warranty, and new rooftop HVAC units.; Flexible floor plan suitable for owner‑user or multi‑tenant occupancy, with existing tenant providing in‑place rental income.
