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Property profile & analytics
OFF-MARKET
Estimated value
$1,365,000
Office buildings
38 Pne St, Orlando, FL 32801-2608
Entity Owned
1-yr Hold
Free & Clear
Property ID
US19-0868760
Property summary
AI-generated overview
This exceptional Class A creative office building, located at 38 E Pine St in the heart of Downtown Orlando, presents a unique investment opportunity. The three-story, 3,480 square foot building boasts a desirable location adjacent to The Plaza, offering unparalleled access to a vibrant mix of retail, restaurants, and nightlife on Church Street. Built in 125 and significantly renovated in 1980 and 2015, the property is zoned AC3A/T, providing flexibility for a variety of uses. Currently configured as a "Play, Live, Work" space, the building features a private club on the first floor, a living area on the second, and dedicated office space on the third. This versatile layout offers significant potential for adaptation to suit diverse business needs. The asking price is $2,000,000, translating to $574.71 per square foot. The property is currently vacant, providing immediate occupancy for the new owner. Importantly, there are no HOA fees associated with this property. This is a rare opportunity to acquire a well-located, renovated, and versatile commercial property in a thriving downtown Orlando market.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1925
Total area
3,480 SF
Lot
0.03 ac (1,160 SF)
Zoning code
AC-3A/T/HP
APN
26-22-29-7352-25-132
UPID
US19-0868760
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.37M
CAP Approach
CAP
$1.07M
Comparable Approach
Comparable
$1.23M
Blend (final)
Blend
$1.37M
Owner & transaction history
Outward Bound Land Company Of Fl Ll · 1 yrs held
Outward Bound Land Company Of Fl Ll
since 2024
Last sale
$1.4M
5 recorded transactions
Zoning & alternative use
AC-3A/T/HP · Orlando, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+13.7%
Auto repair, garage
$1.2M
+6.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Orlando submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Orlando submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,365,000
ML approach
$1,365,000
CAP Approach
CAP Return
Estimation
6%
$1,155,000
6.5%
$1,065,000
7%
$990,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,090,000
Current use
COMMERCIAL (GENERAL)
$1,240,000
Change: +14% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,160,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$885,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$1.37M
Range $1.23M – $1.50M · ±10% · vs last sale $1.37M (Dec 9 2024)
Last sale anchor
$1.37M
Dec 9 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$392 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$14,077
Tax year 2023
Assessed value
$732,290
Assessed 2023
Previous assessed
$709,449
+3.2% YoY
Effective rate
1.92%
On assessed value
Assessed land
$172,330
Assessed improvement
$559,960
Land market value
$172,330
Improvement market value
$559,960
Total market value
$732,290
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1925
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
3
Rooms
8
Total area
3,480 SF
Lot
0.03 ac (1,160 SF)
Zoning code
AC-3A/T/HP
APN
26-22-29-7352-25-132
UPID
US19-0868760
Jurisdiction
ORANGE
Zoning & alternative use
AC-3A/T/HP · Orlando, FL
Zoning AC-3A/T/HP · permitted uses
AC-3A/T/HP · Orlando, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Orlando. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$885,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1925
Heating
FORCED AIR
Cooling
Yes
Stories
3
Rooms
8
Lot
0.03 ac
Current owner
From public records · entity-resolved
Outward Bound Land Company Of Fl Ll
Entity
Free & Clear · 1 yrs held
Mailing address
189 S ORANGE AVE STE #970, ORLANDO, FL 32801-3264
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 9, 2024
$1,365,000
Outward Bound Land Company Of Fl Ll
38 Pine St LLC
Warranty Deed
—
Apr 20, 2016
—
38 E Pine St LLC
Nunziata Holdings LLC
Grant Deed
—
Nov 20, 2012
$475,000
Nunziata Holdings LLC
Avalon Island LLC
Grant Deed
$356,250 · Florida Bank Of Commerce
May 1, 2003
$675,000
Avalon Island LLC
Calvacca,tr
Grant Deed
$540,000 · Suntrust Bank NA
Mar 30, 2001
—
Calvacca Trust
Calvacca,stephen J
Quit Claim Deed
related
$202,379 · Cnl Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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