Three-Tenant Office
For Sale
$1,190,000
901 Washington Street, Orlando, FL 32801
Historic character, flexible private-office layout, and rental space support both owner occupancy and continued multi-tenant use.
Property Size2,531 SF
Price / SF$470.17
Days on Market18
Property Features for 901 Washington Street
General Information
Standard status
Active
Size
2,531 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$9,734
Amenities
Central Air
3
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
OLDE TOWN BROKERS INC
(407) 425-5069
Listed By:
Patricia Sullivan · License #3130492
Source:
Xome
Added: Aug 10
Changed: Aug 22
Last Checked: Aug 26 at 6:57AM
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 OLDE TOWN BROKERS INC
Investment Insights
Based on property information with market context.
Built in 1920, this office property is configured for three tenants and combines traditional architectural character with practical workspace improvements. The interior includes private offices, open work areas, reception and administrative areas, a kitchenette, wood flooring, crown molding, abundant natural light, and central air. Its residential-style exterior creates a distinct professional setting for office users.
The property is in Thornton Park within Downtown Orlando, near Lake Eola, the Orange County Courthouse, the Central Business District, Mills 50, Colonial Drive, the Milk District, restaurants, shops, entertainment, and major transportation corridors. The layout supports an owner-user occupying one office area while retaining additional tenant spaces, or continued operation as a multi-tenant office property. Professional uses identified for the property include law, real estate, financial services, consulting, design, medical, and wellness offices.
The property is in Thornton Park within Downtown Orlando, near Lake Eola, the Orange County Courthouse, the Central Business District, Mills 50, Colonial Drive, the Milk District, restaurants, shops, entertainment, and major transportation corridors. The layout supports an owner-user occupying one office area while retaining additional tenant spaces, or continued operation as a multi-tenant office property. Professional uses identified for the property include law, real estate, financial services, consulting, design, medical, and wellness offices.
Key Highlights
- Three‑tenant office configuration with owner‑user and multi‑tenant operating options
- Built in 1920 with a traditional residential‑style exterior
- Private offices, open work areas, reception, and administrative spaces
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
$47,266
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
3.97%
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%
$945,320
$945.3K
Cap Rate 7%
$675,229
$675.2K
Cap Rate 9%
$525,178
$525.2K
Market Conditions
NOI Build-Up for 2,531 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
$75.9K $30.00/SF
− Vacancy
−$12.9K −$5.10/SF
EGI
$63.0K $24.90/SF
− OpEx
−$15.8K −$6.23/SF
NOI
$47.3K $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%
$945,320
Cap Rate 7%
$675,229
Cap Rate 9%
$525,178
Alternative Uses
Best Use
Office B
$675.2K
$590.8K – $787.8K
NOI $47,266 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$815.3K
$713.4K – $951.2K
NOI $57,073 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,640
Businesses Nearby
Explore this area
Business Placement
Demographics for 32801, FL
17,728
Population
12,133
Households
1.5
Avg Household Size
36
Median Age
63%
College-Educated
95%
High-School Grad
2.2 sq mi
ZIP Area
8,058
Density / Sq Mi
$77,626
Median Household Income
$63,090
Median Earnings
$1,773
Median Rent
$397,600
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 - Historic character, flexible private-office layout, and rental space support both owner occupancy and continued multi-tenant use.
Where is this office building located?
The property is located at 901 Washington Street Orlando, FL.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Three‑tenant office configuration with owner‑user and multi‑tenant operating options; Built in 1920 with a traditional residential‑style exterior; Private offices, open work areas, reception, and administrative spaces
