Two-Story Office Building with Secured
390 North State Road 434 Altamonte Springs, FL 32714
390 North State Road 434, Altamonte Springs, FL, 32714
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For Sale
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Modern two-story office building with an anchor tenant occupying the entire second floor and recent roof and HVAC improvements.
Property Size14,688 SF
Lot Size1.55 Acres
Price / SF$221.27
Days on Market29
Property Features for 390 North State Road 434
General Information
- Standard status
- Active
- Size
- 14,688 SF
- Lot size
- 1.55 Acres
- Property subtype
- Retail, Office
Listing Agency
KW Commercial Orlando Central
Listed by
Mark E Arnold · License #FL BK3220138
Source
Crexi
Added: Jun 19 Checked: Jul 16 at 9:58 am
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 KW Commercial Orlando Central
Investment Insights
Based on property information with market context.
This 14,668-square-foot, two-story office building was constructed in 1983 and has been carefully maintained and updated. The property is currently leased, with a primary anchor tenant using the entire second floor and a smaller tenant occupying a first-floor suite. Recent improvements include remodeling, installation of a new roof, and updated HVAC equipment, and the elevator and building systems have been professionally serviced. The building also features secured gated entries, break and open areas, and a modern, professional working environment.
The asset sits on a 1.55-acre parcel at the corner of SR 434 and Palm Springs Drive, across from the Jamestown Shopping Center. There are two entrances to the parking areas, one from SR 434 and one from Sand Lake Road, and the site provides ample parking and a client/customer-friendly setting. The property is located within an established small commercial campus that includes the subject property and an adjacent retail building, with surrounding commercial uses nearby.
For tenants and buyers seeking flexible occupancy, the first floor can support repositioning consistent with the stated Future Land Use of Commercial/Office, including medical or retail use. The current clear height on the first floor is 10 feet and can potentially be increased in sections to 13 feet, and the floor can be divided into multiple retail suites for a range of uses. With a primary tenant providing long-term stability and operating costs described as full service with moderate operating expenses, the building also supports an owner-user approach for use of the first floor.
The asset sits on a 1.55-acre parcel at the corner of SR 434 and Palm Springs Drive, across from the Jamestown Shopping Center. There are two entrances to the parking areas, one from SR 434 and one from Sand Lake Road, and the site provides ample parking and a client/customer-friendly setting. The property is located within an established small commercial campus that includes the subject property and an adjacent retail building, with surrounding commercial uses nearby.
For tenants and buyers seeking flexible occupancy, the first floor can support repositioning consistent with the stated Future Land Use of Commercial/Office, including medical or retail use. The current clear height on the first floor is 10 feet and can potentially be increased in sections to 13 feet, and the floor can be divided into multiple retail suites for a range of uses. With a primary tenant providing long-term stability and operating costs described as full service with moderate operating expenses, the building also supports an owner-user approach for use of the first floor.
Key Highlights
- 14,668 SF two‑story office building on a 1.55‑acre parcel in Altamonte Springs at SR 434 and Palm Springs Drive
- Leased investment: primary anchor tenant uses the entire second floor (50% of the building) and a smaller tenant uses a first‑floor suite
- Recent upgrades include remodeling plus new roof and HVAC equipment; elevator and building systems professionally serviced
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $352.5k | $24.00 |
| − Vacancy | −$59.9k | −$4.08 |
| EGI | $292.6k | $19.92 |
| − OpEx | −$73.1k | −$4.98 |
| NOI | $219.4k | $14.94 |
14,688 SF · lease $24.00/SF/yr · vacancy 17.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.13M
$2.74M – $3.66M
NOI $219,439 @ 7.0% cap · market cap 6.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.18M
$3.66M – $4.88M
NOI $292,585 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
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FAQs
What type of property is this?
Office building - Modern two-story office building with an anchor tenant occupying the entire second floor and recent roof and HVAC improvements.
Where is this office building located?
The property is located at 390 North State Road 434 Altamonte Springs, FL.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 14,668 SF two‑story office building on a 1.55‑acre parcel in Altamonte Springs at SR 434 and Palm Springs Drive; Leased investment: primary anchor tenant uses the entire second floor (50% of the building) and a smaller tenant uses a first‑floor suite; Recent upgrades include remodeling plus new roof and HVAC equipment; elevator and building systems professionally serviced
