299 Loraine Dr - Office FOR SALE


Altamonte Springs, FL 32714- Wekiva
$475,000 USD
407-875-8040
299 Loraine Dr, Altamonte Springs, FL for Sale
$475,000 USD
Office - FOR SALE
1/6
null | 6.71% Cap Rate

299 Loraine Dr
Altamonte Springs, FL 32714
Wekiva


OVERVIEW

Fully leased four-suite office building offering immediate cash flow, below-market rents, and near-term upside in the heart of the Altamonte Springs / I-4 corridor. 299 Loraine Drive is a 3,504 SF two-story concrete block office property on 0.31 acres, zoned MOC-2, with 100% occupancy and a current average rent of $15.16/SF — well below achievable market rates in the corridor. Three of four suites are month-to-month, creating a clear path for an investor to reprice to market or an owner-user to phase into occupancy without waiting on long-term lease rollover. The sole term lease (Suite 2004, through January 2028) is already at $16.44/SF, validating the upside scenario. A mark-to-market rent of $18.00/SF would generate approximately $63,000 in gross annual revenue — an 18.7% increase over current income. Offered at $475,000 with an in-place cap rate of 6.6% and a potential cap rate of 8.8% at market rents. Modified Gross lease structure limits landlord operating exposure. Replacement cost per the Seminole County Property Appraiser is $519,221 — buyers are acquiring below replacement cost. All leases, financials, and due diligence materials available upon execution of a confidentiality agreement. Contact Bob Atkins or Jackie Atkins at Atkins Commercial Real Estate for access to the offering memorandum.

FOR SALE DETAILS

PRICE

$475,000 USD

PRICE/SF

$136 USD /SF

CAP RATE

6.71%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

Storefront Retail/Office, Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,939 SF

ZONING

MOC-2

APN/PARCEL ID

14-21-29-501-0B00-0100

ASK ABOUT THIS PROPERTY

Bob AtkinsAtkins Commercial Real Estate LLCMore Info
407-875-8040

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Bob AtkinsAtkins Commercial Real Estate LLCMore Info
407-875-8040

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.