Multi-Building Office
For Sale
$1,300,000
915 E ALFRED Street, Tavares, FL 32778
Commercial Sale, TAVARES, FL
Property Size5,124 SF
Lot Size1.25 Acres
Price / SF$253.71
Days on Market295
Property Features for 915 E ALFRED Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RMF-3
Subdivision
TAVARES ST CLAIR ABRAMS EXT
Lot features
Central Business District, Paved
Directions
From Dora Ave in Tavares, Turn Left onto E Alfred St, Building is on your left
Standard status
Active
APN
28-19-26-1700-010-00004
Size
5,124 SF
Lot size
1.25 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
TAVARES ST CLAIR ABRAMS EXT THAT PART OF BLK 10 DESCRIBED AS FOLLOWS: BEG AT NE COR OF BLK 10 RUN W ALONG N LINE 87.32 FT S 82.66 FT S 33DEG 15MIN W 23.13 FT RUN S PARALLEL TO E LINE OF BLK TO N R/W OF OLD US HWY 441 E'LY ALONG R/W 100 FT TO E LINE OF BLK 10 N TO POB PB 1 PG 53 ORB 5850 PG 1505
Tax Annual Amount
10467
Legal Description
TAVARES ST CLAIR ABRAMS EXT THAT PART OF BLK 10 DESCRIBED AS FOLLOWS: BEG AT NE COR OF BLK 10 RUN W ALONG N LINE 87.32 FT S 82.66 FT S 33DEG 15MIN W 23.13 FT RUN S PARALLEL TO E LINE OF BLK TO N R/W OF OLD US HWY 441 E'LY ALONG R/W 100 FT TO E LINE OF BLK 10 N TO POB PB 1 PG 53 ORB 5850 PG 1505
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1983
Building materials
Block, Stucco
Roof type
Shingle, Metal
Listing Agency:
EXIT REALTY TRI-COUNTY
(352) 385-3948
Listed By:
Jaret Whitney · License #682072
(352) 385-3948
Added: Oct 31, 2025
Changed: Aug 19
Last Checked: Aug 21 at 11:06PM
MLS# G5103987
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office property includes two buildings totaling 5,124 square feet on 1.25 acres. The 2,940-square-foot building contains a reception and waiting area, exam and treatment rooms, private offices, and restrooms, and is currently occupied by a chiropractic practice. A second 2,184-square-foot building is arranged as six separate office suites, each with an individual entrance. Both structures were built in 1983 and feature block and stucco construction, central heating, central air, and a combination of metal and shingle roofing.
The site at 915 E Alfred Street in Tavares includes a paved parking area, two street-front marquees, and an adjacent buildable lot. Public water and public sewer serve the property. Its RMF-3 zoning and location near government offices, medical centers, and major thoroughfares support a range of professional office configurations, subject to applicable approvals.
The site at 915 E Alfred Street in Tavares includes a paved parking area, two street-front marquees, and an adjacent buildable lot. Public water and public sewer serve the property. Its RMF-3 zoning and location near government offices, medical centers, and major thoroughfares support a range of professional office configurations, subject to applicable approvals.
Key Highlights
- Two office buildings totaling 5,124 square feet on 1.25 acres
- 2,940‑square‑foot building with reception, treatment rooms, private offices, and restrooms
- Second building contains 2,184 square feet divided into six office suites
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
$76,553
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
5.89%
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%
$1,531,060
$1.5M
Cap Rate 7%
$1,093,614
$1.1M
Cap Rate 9%
$850,589
$850.6K
Market Conditions
NOI Build-Up for 5,124 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
$123.0K $24.00/SF
− Vacancy
−$20.9K −$4.08/SF
EGI
$102.1K $19.92/SF
− OpEx
−$25.5K −$4.98/SF
NOI
$76.6K $14.94/SF
Area
Lake 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%
$1,531,060
Cap Rate 7%
$1,093,614
Cap Rate 9%
$850,589
Alternative Uses
Best Use
Office B
$1.09M
$956.9K – $1.28M
NOI $76,553 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,070 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 32778, FL
23,993
Population
12,720
Households
1.9
Avg Household Size
52
Median Age
25%
College-Educated
88%
High-School Grad
25.4 sq mi
ZIP Area
945
Density / Sq Mi
$61,815
Median Household Income
$40,942
Median Earnings
$1,384
Median Rent
$241,500
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 - Two professional buildings offer medical, wellness, and multi-suite office configurations with paved parking and expansion land.
Where is this office building located?
The property is located at 915 E ALFRED Street Tavares, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two office buildings totaling 5,124 square feet on 1.25 acres; 2,940‑square‑foot building with reception, treatment rooms, private offices, and restrooms; Second building contains 2,184 square feet divided into six office suites
