280 Canton AveWinter Park, FL 32789

Property Details for 280 Canton Ave

Year built

1975

Lot size

1.43 AC

Property size (Sq ft)

32,215 SF

Zone code

O-1

Property type

Office buildings

APN

05-22-30-9400-22-061

APU

52230940022061

Description

This exceptional four-story office building in Winter Park, Florida, presents a unique investment opportunity. Boasting 32,215 rentable square feet on a 1.43-acre lot, the property is strategically located in Orlando's most sought-after office market, known for its strong rent corridor and low vacancy rates. Built in 1975 and renovated in 2017, the building features two elevators, a fully functioning fire sprinkler system, and excellent signage. The property benefits from a "street to street" full block boundary with four points of ingress/egress, ensuring convenient access. Currently, it houses twelve tenants, with one 7,500-square-foot vacancy offering significant upside potential for rent growth. The building is zoned O-1 by the City of Winter Park and is offered at a price significantly below replacement value. Its long history of stable, professional tenants and exceptional views make this a truly compelling investment. Recent capital expenditures include $150,000 in elevator improvements. The property's well-maintained condition, evidenced by the same engineer's involvement for over 25 years, further underscores its value. This fee-simple ownership opportunity is rare and presents a chance to acquire a premier asset in a high-demand location. The building's size and location make it ideal for a headquarters location, allowing for future growth and expansion.

• CAP approach

  CAP return

  Valuation

  6%

  $4,985,062

  6.5%

  $4,601,596

  7%

  $4,272,910

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,100,289

  Geo Method

  $3,596,160

• Alternative Use

  Use

  Valuation

  Residential

  $5,705,978

  Hospitality

  $5,226,646

  Educational

  $4,348,508

  Medical

  $4,498,060

  Retail

  $6,764,346

Location Insight

City

Winter Park

County

Orange

State

Florida

Latitude

28.6

Longitude

-81.3542

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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