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31603136
31603147

189 South Orange Ave, Orlando, FL 32801

AV
FL SL3531226
KW
SG
SL3302939
KW Commercial Orlando Central
Listed by KW, KW Commercial Orlando Central
$1,910,000
57 days on market
Updated 4 days ago

Medical Office - 9% CAP - NNN - Long Term Regional Tenant

Details
Property Type Office
Sub Type Executive Office, Medical Office
Square Footage 6,645
Units 2
Cap Rate 9%
NOI $171,973
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 11
Lease Expiration 12/31/2031
Remaining Term 5.6
Rent Bumps Yes
Lease Options Two(2)* 5 Year Options
Price per SqFt $287
Class A
Investment Type Stabilized
Lease Commencement 01/01/2021
Ownership Investment

Office | 9.00% CAP | 6,645 SqFt

Marketing description

Premium Office Condo Investment – Fully Leased

The Plaza, Downtown Orlando

Gandhi Commercial is proud to present a great opportunity to acquire 6,445 SF of Class A office condos located on the 18th floor of The Plaza South Tower, one of Downtown Orlando’s most iconic mixed-use high-rises.

Positioned directly along South Orange Avenue, the property offers great visibility and immediate access to Orlando’s central business district.

This fully stabilized investment comprises Suite 1830 and Suite 1850, featuring long-term occupancy and consistent 3% annual rent escalations.

Downtown Orlando is home to the Dr. Phillips Performing Arts Center, Amway Center, Orlando Lions Soccer Stadium, and Camping World Stadium.

Convenient access to I-4 Corridor, Florida Turnpike, and Florida’s 429, 417, 528, 414, and 408 Expressways.

24/7 access, security, parking, and direct access to restaurants and retail within The Plaza.

Don't miss out on the chance to secure a prominent position in the Orlando commercial real estate market with this exceptional Office / Office Building.

Tenant Profile

The property is fully leased to a regional, multi-location nonprofit healthcare operator operating under a 501(c)(3) structure. The tenant maintains established operations in Central Florida and has been in continuous operation for over six years. - Tenant has 3 locations, and revenue is on the rise.

According to publicly available IRS Form 990 filings, the tenant has demonstrated strong and improving financial performance over recent years. The organization reported approximately $7.6 million in revenue and a positive net operating income of approximately $2.8 million in 2024. Buyers are encouraged to verify all financial information independently.

The lease is structured as an Absolute NNN lease with 3% annual rent escalations. As of January 2026, base rent is $14,331 per month ($171,973 annually), exclusive of NNN charges. The tenant has no history of late or missed rent payments under the current lease.

This financial profile, combined with the tenant’s nonprofit structure, healthcare use, and long-term Absolute NNN lease, supports income durability and reduced tenant credit risk throughout the remaining lease term and renewal options.

Additional tenant financial information, including link to the financial statements available on the public domain, will be made available upon execution of a confidentiality agreement.

Disclosure: Tenant information derived from publicly available sources and seller-provided information. Buyers to verify all information independently.

Investment highlights

  • Fully leased - Absolute NNN Lease
  • Long-term lease through 2031 with 3% annual rent increases
  • Two (2) additional 5-year renewal options
  • High-end build-out with glass-line offices, executive boardroom, and reception
  • Impressive floor-to-ceiling views of Downtown Orlando
  • 24/7 access, security, covered parking, and direct access to restaurants and retail within The Plaza
  • Convenient access to I-4 Corridor, Florida Turnpike, and Florida’s 429, 417, 528, 414, and 408 Expressways.
  • Downtown Orlando is home to the Dr. Phillips Performing Arts Center, Amway Center, Orlando Lions Soccer Stadium, and Camping World Stadium.

Listing Contacts

AV
FL SL3531226
KW
SG
SL3302939
KW Commercial Orlando Central
Listed by KW, KW Commercial Orlando Central

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$171,973.00
$14,331.08/mo

Valuation Metrics

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DSCR
9%
Cap Rate
9%
ROI

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Additional Information

Name
Ayesha Verma
License
SL3531226
Brokerage
Keller Williams Realty at the Parks
Title
Keller Williams
Brokerage Address
11 South Bumby Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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