For Sale
$8,350,000

5749 Westgate DrOrlando, FL 32835

Prime Orlando Office Building, Vacant, 47,089 SF

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional three-story, 47,089-square-foot office building presents a compelling investment opportunity in Orlando's thriving business district. Located at 5749 Westgate Dr, Orlando, FL 32835, this Class B property, built in 2008, is currently vacant, offering significant potential for owner-users or investors. The building boasts a desirable location, just 1.3 miles from the 408 Turnpike on high-traffic Kirkman Road (59,000 vehicles per day), providing easy access to Orlando International Airport, downtown Orlando, and key residential areas. The property features updated elevators, common area marble floors and mahogany trim, high ceilings, private balconies, a four-story clock tower, pylon signage, and a covered entrance/drop-off. A second-floor amenity deck adds to the appeal. Ample parking is available with 138 spaces on a 3-acre site (3.5/1000 parking ratio). Each floor offers a 15,000-square-foot floor plate, easily divisible or usable contiguously. The asking price is $8,350,000, representing a price per square foot of $177.32 and a pro-forma cap rate of 11.46%. The property is zoned AC-1, allowing for potential redevelopment or expansion. Orlando's robust economy, fueled by tourism, technology, and healthcare, coupled with significant job growth (nearly 140,000 jobs added in the last five years and 42,400 in 2023 alone), creates high demand for office space. This presents a unique chance to capitalize on Orlando's continued economic expansion and strong job market.

Highlights

  • Prime Orlando location near major highways and public transit, attracting top-tier talent.
  • Excellent corporate headquarters site, convenient to Orlando International Airport, downtown, and key residential areas; situated on high-traffic Kirkman Road (59,000 VPD), 1.3 miles from the 408 Turnpike.
  • Orlando's robust economy, fueled by tourism, technology, and healthcare, is one of the fastest-growing in the US.
  • Significant job growth in Orlando, with nearly 140,000 jobs added in the past five years.
  • Exceptional job market with 42,400 jobs added in 2023, making Orlando the 3rd fastest-growing metro area in 2024 (11% YoY growth).
  • High demand for office space due to businesses relocating to Orlando for favorable conditions and a skilled workforce.

Property Details for 5749 Westgate Dr

Property type
Office properties, Medical offices
Square Feet
47,089 SF
Class
B
Year Built
2008
Stories
3

Location Insight

City
Orlando
County
Orange
State
Florida
Latitude
28.532304850521
Longitude
-81.460779353132
5749 Westgate Dr, Orlando, Florida

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5749 Westgate Dr
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