Colonial Office Building | 126-132 E Colonial Dr
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Colonial Office Building 126-132 E Colonial Dr
30,090 SF 71% Leased Office Building Orlando, FL 32801 $6,450,000 ($214/SF) 7.27% Cap Rate
Investment Highlights
- Excellent visibility with 120 feet of frontage on Colonial Drive, experiencing over 43,000 vehicles per day (VPD).
- Substantial parking with 59 spaces at the rear, complemented by street parking along Colonial Drive, Irma, and Hillcrest.
- Existing triple net leases minimize expense liabilities for ownership, enhancing investment stability.
- Mixed-Use Building featuring office spaces on the 2nd floor and office/retail spaces on the 1st floor catering to diverse business needs.
- Fully leased asset generating stable cash flow which is perfect for a 1031 exchange or long-term investment
- Current below-market rents present a significant value add opportunity upon lease expirations.
Executive Summary
Tony Nguyen, CCIM with The TRG Group, is pleased to present 126 E Colonial Drive, a premier mixed-use property in Orlando, FL. This two-story building offers office spaces on the second floor and office/retail spaces on the first, fully leased and generating stable cash flow. With 59 parking spaces and additional street parking, this well-positioned asset provides ample accessibility for tenants and visitors alike.
The property features triple net leases to minimize expense liabilities and utilizes a core factor on the second floor, maximizing rentable space revenue. Current below-market rents provide significant value-add potential upon lease renewals. Its strategic location boasts 120 feet of frontage on Colonial Drive, with over 43,000 VPD, and is surrounded by a dense population of approximately 20,000 residents within a 1-mile radius, with an average household income of $100,000.
Adjacent to new developments, including a four-story office building designed by a renowned architectural firm, this property is poised for future growth. Its flexible lease structures offer opportunities for owner-occupiers to acquire and operate within the building. Proximity to downtown Orlando and access to public transportation further enhance its appeal. This offering represents a compelling investment opportunity in a dynamic and rapidly growing market.
The property features triple net leases to minimize expense liabilities and utilizes a core factor on the second floor, maximizing rentable space revenue. Current below-market rents provide significant value-add potential upon lease renewals. Its strategic location boasts 120 feet of frontage on Colonial Drive, with over 43,000 VPD, and is surrounded by a dense population of approximately 20,000 residents within a 1-mile radius, with an average household income of $100,000.
Adjacent to new developments, including a four-story office building designed by a renowned architectural firm, this property is poised for future growth. Its flexible lease structures offer opportunities for owner-occupiers to acquire and operate within the building. Proximity to downtown Orlando and access to public transportation further enhance its appeal. This offering represents a compelling investment opportunity in a dynamic and rapidly growing market.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
30,090 SF
Building Class
B
Year Built/Renovated
1958/1970
Price
$6,450,000
Price Per SF
$214
Cap Rate
7.27%
NOI
$468,705
Percent Leased
71%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
15,045 SF
Slab To Slab
12’
Building FAR
0.79
Land Acres
0.87 AC
Zoning
O-3/T - Office District Zoning
Parking
59 Spaces (2.18 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Offering retail space on the first floor at $25 per square foot.
- 2nd Floor
- 3,000-7,000 SF
- Office
- -
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 1,600 SF | Retail | - | Now |
| 2nd Floor | 3,000-7,000 SF | Office | - | Now |
1st Floor
| Size |
| 1,600 SF |
| Space Use |
| Retail |
| Condition |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 3,000-7,000 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
1st Floor
| Size | 1,600 SF |
| Space Use | Retail |
| Condition | - |
| Available | Now |
Offering retail space on the first floor at $25 per square foot.
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Walk Score ®
Very Walkable (83)
Bike Score ®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 29-2225-5064-00-240 | Improvements Assessment | $423,758 |
| Land Assessment | $1,390,463 | Total Assessment | $1,814,221 |
PROPERTY TAXES
Parcel Number
29-2225-5064-00-240
Land Assessment
$1,390,463
Improvements Assessment
$423,758
Total Assessment
$1,814,221
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Tony Nguyen, CCIM -
TRG Group
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Colonial Office Building | 126-132 E Colonial Dr
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