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The Lake Howell Building (1031 Friendly) 407 Lake Howell Rd 6,117 SF Vacant Office Building Maitland, FL 32751 $1,295,000 ($211.71/SF) 7.18% Cap Rate
Investment Highlights
- This Property is "1031-Friendly"!
- Surrounded by medical buildings -Location is Excellent-Located In the City of Casselberry with a Maitland address
- Many Possible uses and is an excellent investment for an absentee owner
Executive Summary
This building is presently rented as a professional office suite operation consisting of 24 suites(rented mo to mo), it has approx 29 lighted parking spaces(front and back), 3 lobbies, 1 kitchen , 5 restrooms, and a conference room. Newer roof and several central air conditioner units. It stays rented and has many professionals that have been in the building for many years. The building is located just 2 blocks from HWY 436 and is surrounded by many doctor offices. The building has been updated and remodeled. A floor plan, proforma and survey are attached. THIS PROPERTY IS PRICED FOR A QUICK SALE- WAS REDUCED FROM $1,600,000! The seller may consider holding a short term first mortgage. THIS BUILDING IS "1031-FRIENDLY!! The owner is a broker and will be happy to discuss the building at anytime.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$146,256
|
$23.91
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$146,256
|
$23.91
|
| Taxes |
$14,480
|
$2.37
|
| Operating Expenses |
$38,776
|
$6.34
|
| Total Expenses |
$53,256
|
$8.71
|
| Net Operating Income |
$93,000
|
$15.20
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $146,256 |
| Annual Per SF | $23.91 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $146,256 |
| Annual Per SF | $23.91 |
| Taxes | |
|---|---|
| Annual | $14,480 |
| Annual Per SF | $2.37 |
| Operating Expenses | |
|---|---|
| Annual | $38,776 |
| Annual Per SF | $6.34 |
| Total Expenses | |
|---|---|
| Annual | $53,256 |
| Annual Per SF | $8.71 |
| Net Operating Income | |
|---|---|
| Annual | $93,000 |
| Annual Per SF | $15.20 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
6,117 SF
Building Class
B
Year Built/Renovated
1959/2010
Price
$1,295,000
Price Per SF
$211.71
Cap Rate
7.18%
NOI
$93,000
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,117 SF
Building FAR
0.21
Lot Size
0.67 AC
Zoning
OR - It is an executive office operation but many other permissible uses. Medical and has many other uses-see attached list of uses in zoning.
Parking
30 Spaces (4.9 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Signage
- Reception
- Air Conditioning
Moderately walkable
60/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 28-21-30-300-0270-0000 | Total Assessment | $959,566 |
| Land Assessment | $454,014 | Annual Taxes | $14,480 ($2.37/SF) |
| Improvements Assessment | $505,552 | Tax Year | 2025 Payable 2025 |
Property Taxes
Parcel Number
28-21-30-300-0270-0000
Land Assessment
$454,014
Improvements Assessment
$505,552
Total Assessment
$959,566
Annual Taxes
$14,480 ($2.37/SF)
Tax Year
2025 Payable 2025
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Baron R. Luckenbach Brokerage
The Lake Howell Building (1031 Friendly) | 407 Lake Howell Rd
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