Stand-Alone Office Building For
For Sale
$1,995,000
Pending
960 INTERNATIONAL Pkwy, Lake Mary, FL 32746
5,000 SF office building in Lake Mary/Heathrow's Central Parc.
Property Size5,108 SF
Lot Size0.07 Acres
Days on Market153
Property Features for 960 INTERNATIONAL Pkwy
General Information
Standard status
Pending
Size
5,108 SF
Lot size
0.07 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,220
Building Details
Building Size
5,108 SF
Year Built
2017
Stories
1
Units
2
Listing Agency:
PREMIER SOTHEBYS INT'L REALTY
(407) 810-4726
Listed By:
Mel Bernstein · License #BK638692
(407) 810-4726
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:46AM
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 PREMIER SOTHEBYS INT'L REALTY
Investment Insights
Based on property information with market context.
This stand-alone, 5,000-square-foot office building is located in Central Parc on International Parkway in Lake Mary/Heathrow. The property is anchored by Starbucks and in view of corporations such as Verizon and Deloitte. Currently divided into two suites, the property is income-producing. The largest suite is 4,000 square feet and is configured with a reception room, multiple offices and showrooms, private space, and a storage room with direct exterior access. The other suite is an open 1,100-square-foot suite with private exterior access and a restroom. Both suites feature floor-to-ceiling windows and tall ceilings. A private electric car charging station is located onsite. The building occupies a corner location with excellent visibility.
Key Highlights
- Stand‑alone 5,000 sq ft office building in desirable Central Parc on International Parkway.
- Income‑producing property divided into two suites (4,000 sq ft and 1,100 sq ft).
- Anchored by Starbucks and near Verizon and Deloitte.
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
$74,700
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
3.74%
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%
$1,494,000
$1.5M
Cap Rate 7%
$1,067,143
$1.1M
Cap Rate 9%
$830,000
$830.0K
Market Conditions
NOI Build-Up for 5,000 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
$120.0K $24.00/SF
− Vacancy
−$20.4K −$4.08/SF
EGI
$99.6K $19.92/SF
− OpEx
−$24.9K −$4.98/SF
NOI
$74.7K $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%
$1,494,000
Cap Rate 7%
$1,067,143
Cap Rate 9%
$830,000
Alternative Uses
Best Use
Office B
$1.07M
$933.8K – $1.25M
NOI $74,700 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.25M – $1.66M
NOI $99,600 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 32746, FL
45,828
Population
20,204
Households
2.3
Avg Household Size
42
Median Age
53%
College-Educated
97%
High-School Grad
21.1 sq mi
ZIP Area
2,172
Density / Sq Mi
$111,534
Median Household Income
$55,860
Median Earnings
$1,912
Median Rent
$420,200
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 - 5,000 SF office building in Lake Mary/Heathrow's Central Parc.
Where is this office building located?
The property is located at 960 INTERNATIONAL Pkwy Lake Mary, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Stand‑alone 5,000 sq ft office building in desirable Central Parc on International Parkway.; Income‑producing property divided into two suites (4,000 sq ft and 1,100 sq ft).; Anchored by Starbucks and near Verizon and Deloitte.
