299 Loraine Dr 3,504 SF 100% Leased Office Building Altamonte Springs, FL 32714 $649,724 CAD ($185.42 CAD/SF) 6.71% Cap Rate

Fully leased four-suite office building offering immediate cash flow, below-market rents, and near-term upside in the heart of the Altamonte Springs / I-4 corridor. 299 Loraine Drive is a 3,504 SF two-story concrete block office property on 0.31 acres, zoned MOC-2, with 100% occupancy and a current average rent of $15.16/SF — well below achievable market rates in the corridor.
Three of four suites are month-to-month, creating a clear path for an investor to reprice to market or an owner-user to phase into occupancy without waiting on long-term lease rollover. The sole term lease (Suite 2004, through January 2028) is already at $16.44/SF, validating the upside scenario. A mark-to-market rent of $18.00/SF would generate approximately $63,000 in gross annual revenue — an 18.7% increase over current income.
Offered at $475,000 with an in-place cap rate of 6.6% and a potential cap rate of 8.8% at market rents. Modified Gross lease structure limits landlord operating exposure. Replacement cost per the Seminole County Property Appraiser is $519,221 — buyers are acquiring below replacement cost.
All leases, financials, and due diligence materials available upon execution of a confidentiality agreement. Contact Bob Atkins or Jackie Atkins at Atkins Commercial Real Estate for access to the offering memorandum.