Building Details

Building Size 3,319 SF

Year Built 1924

Buildings 2

Units 5

Tenancy Multi

Listed By: Phil Cowherd Show Phone

Source: Elliman

Added: Oct 16 Last Checked: Oct 16 at 1:58PM

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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 Phil Cowherd

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Investment Insights

Based on property information with market context.

This Orlando property comprises two buildings with approximately 3,450 SF combined. The 1924 Craftsman house contains a 3-bedroom, 2-bathroom residence and an attached 1-bedroom, 1-bathroom apartment. A second, concrete-block building contains two 1-bedroom, 1-bathroom apartments, one on each floor. Features include hardwood flooring, high ceilings, a shared laundry area, and on-site parking. All four units are occupied, and each has its own electric meter. The property is zoned O-1/T, with continued residential use as well as office and professional use identified as permitted options.

The property is one block from the Orlando Health medical campus and near SoDo Shopping Center, Super Target, Foxtail Coffee, and the Orange Avenue dining corridor. Downtown Orlando is approximately one mile away; Lake Eola, Thornton Park, and I-4 are also described as minutes away. Walk Score is 95, Bike Score is 76, and Transit Score is 62.

Key Highlights

• Four occupied residences across two buildings
• Approximately 2,203 SF in the 1924 house and 1,247 SF in the second building
• Main residence has 3 bedrooms and 2 bathrooms; attached apartment has 1 bedroom and 1 bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,945

Cap Rate

7.04%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$978,900 $978.9K

Cap Rate 7%

$699,214 $699.2K

Cap Rate 9%

$543,833 $543.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,450 SF

Gross rent

$74.5K $21.60/SF

− Vacancy

−$4.6K −$1.33/SF

EGI

$69.9K $20.27/SF

− OpEx

−$21.0K −$6.08/SF

NOI

$48.9K $14.19/SF

Area

Orlando, FL

Vacancy

6.17%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$978,900

Cap Rate 7%

$699,214

Cap Rate 9%

$543,833

Alternative Uses

Best Use

Multifamily LT 5

$699.2K

$611.8K – $815.8K (±1% cap)

NOI $48,945 @ 7.0% cap · market cap 7.04%

Second Best

Apartment 5plus

$638.7K

$558.9K – $745.2K (±1% cap)

NOI $44,709 @ 7.0% cap · market cap 6.43%

Theoretical Best

Office A

$1.11M

$972.5K – $1.30M (±1% cap)

NOI $77,796 @ 7.0% cap · market cap 11.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Pet Grooming Service (Bike/Boat/Book/etc) Store Veterinary Clinic Butcher Florist Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

4,560

Businesses Nearby

Explore this area Business Placement

Demographics for 32806, FL

26,582

Population

12,529

Households

2.1

Avg Household Size

40

Median Age

55%

College-Educated

95%

High-School Grad

6.8 sq mi

ZIP Area

3,909

Density / Sq Mi

$86,653

Median Household Income

$54,012

Median Earnings

$1,500

Median Rent

$415,800

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Two buildings provide four residences, shared laundry, and separate electric metering for each unit.

Where is this multifamily property located?

The property is located at 940 BRADSHAW Orlando, FL.

What is the asking price?

The asking price for this property is $695,000.

What are key features of this property?

This property features: Four occupied residences across two buildings; Approximately 2,203 SF in the 1924 house and 1,247 SF in the second building; Main residence has 3 bedrooms and 2 bathrooms; attached apartment has 1 bedroom and 1 bathroom