8 unit office building| value add | $130k under appraised value

63% Leased | 10.12.% Cap | Orlando FL

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NEW LISTING!

Asking Price

$650,000

value add| appraised at $780,000

 10.12% Cap | 63% Leased | 7,784 SF +/-

Listing Brokers

Costel Vanatoru

Lic. Real Estate Broker

407.403.5775

FL License: FL BK3139052

Need more information? Contact broker, or click below to request the OM.

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value add| appraised at $780,000 | CENTRAL ORLANDO | 8 UNITS OFFICE BUILDING

 10.12% Cap | 63% Leased | 7,784 SF +/-

Price

$650,000

CAP Rate

10.12%

Price/RSF

$83.50

Occupancy

63%

Address

989 Kennedy BLVD

Tenancy

Multiple

City/State/Zip

Orlando, FL 32810

Term Left

Month to Month

County

Orange

Lease Type

Gross Leases

Property Type

Commercial Office

NOI

$65,748 (Proforma)

Use Type

Investment Property/Owner User

Building Class

C

PID

Per Request

Rentable Square Feet

7,104 +/-

Zoning

Commercial/ Office

Ownership Type

Fee Simple

Lot Size

0.58 AC +/-

Year Built

1998 (Renovated 2018)

PROPERTY DESCRIPTION

Vanwald & Associates is pleased to present the opportunity to acquire an eight (8) unit office building in the center of Orlando, Florida.

 

VALUE ADD - Under Market Rents√

The building is 63% leased with the opportunity for a new owner to increase the current under market rents and to lease up the three (3) remaining vacant units.

 

CENTRAL LOCATION √

The Building is in a great location, located on a busy road, just minutes from Interstate 4, Downtown Orlando, Winter Park, Maitland and College Park.

 

UNDER APPRAISED VALUE √

The Building appraised in 2017 for $780,000. The rental rates and values in Orlando have been on a consistent climb for the past years so the full potential of this property should surpass the 2017 valuation.

All Rights Reserved. Copyright 2016 Vanwald & Associates LLC

VanWald & Associates LLC | Lic. Real Estate Broker | 6000 Metrowest BLVD STE 101, Orlando, FL 32835