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218-384 Wilshire Blvd
Casselberry, FL 32707
Wilshire Plaza II · Office Property For Sale
Investment Highlights
- Property Size and Composition: Wilshire Plaza II comprises 70,874 square feet of mixed-use office and retail space.
- NOI Profile: Pro forma NOI is projected to reach $967,350 by Year 3, reflecting approximately 41% growth relative to in-place NOI.
- Tenant Mix: The rent roll is diversified across insurance, healthcare, professional services, education, and service-oriented uses.
- Occupancy and Income: The Property is 91.3% occupied and produces in-place NOI of $685,848.
- Lease Term Profile: The rent roll has a weighted average lease term (WALT) of approximately 3 years and 8 months.
- Suburban Office and Service Retail Use: The Property primarily serves local and regional tenants occupying suburban office and service retail space.
Executive Summary
Marcus & Millichap is pleased to present Wilshire Plaza II, a 70,874-square-foot mixed-use office and retail property located at 218–384 Wilshire Boulevard in Casselberry, Florida, within the Greater Orlando MSA. The Property sits on a 3.65-acre parcel just west of SR-436 (Semoran Boulevard), a primary commercial corridor serving Seminole County and the surrounding suburban trade area.
Wilshire Plaza II is currently 91% occupied and generates in-place NOI of $685,848. The tenant roster is composed primarily of service-oriented, healthcare, insurance, and professional office users, with income distributed across a broad base of local and regional tenants.
Based on projected stabilization reflected in the financial analysis, pro forma NOI is estimated at $967,350 by Year 3, representing an approximate 41% increase over in-place NOI.
Wilshire Plaza II is currently 91% occupied and generates in-place NOI of $685,848. The tenant roster is composed primarily of service-oriented, healthcare, insurance, and professional office users, with income distributed across a broad base of local and regional tenants.
Based on projected stabilization reflected in the financial analysis, pro forma NOI is estimated at $967,350 by Year 3, representing an approximate 41% increase over in-place NOI.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
70,874 SF
Building Class
B
Year Built
1986
Price
$11,744,491 CAD
Price Per SF
$165.71 CAD
Cap Rate
8%
NOI
$939,351 CAD
Percent Leased
91%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
35,437 SF
Slab To Slab
13’
Building FAR
0.45
Lot Size
3.65 AC
Zoning
PUD - Planed Development
Parking
196 Spaces (2.77 Spaces per 1,000 SF Leased)
Amenities
- Security System
Property Taxes
| Parcel Number | 20-21-30-5HW-0000-002A | Improvements Assessment | $3,115,440 CAD |
| Land Assessment | $1,579,853 CAD | Total Assessment | $4,695,293 CAD |
Property Taxes
Parcel Number
20-21-30-5HW-0000-002A
Land Assessment
$1,579,853 CAD
Improvements Assessment
$3,115,440 CAD
Total Assessment
$4,695,293 CAD
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