A two-story building in Wall Street Plaza has hit the market for $6.95 million, according to an earlier report from our friends at Orlando Business Journal.
The 1924 building is listed at about 14,868 SF on a 0.22-acre lot. It is fully sprinklered and zoned AC-3A/T/HP. The broker is pitching it as an owner-user opportunity for a bar, nightclub, hospitality, or experiential operator, and notes a new roof and new HVAC systems.
Marcus & Millichap is marketing the property as sitting on “Downtown Orlando’s only true brick-lined, pedestrian-only entertainment corridor.” It says operators at the location have generated “reported weekend revenues exceeding $50,000 to $60,000 in cover charges alone” during event weekends. Those figures are the broker’s and not independently verified.
The listing also models a hypothetical full-building lease at $40 per square foot triple net, which it says would produce about $600,000 in annual net operating income. The property’s current floor area ratio is 4.0, which the listing says allows about 38,312 buildable square feet. It cites the potential to raise the ratio to 9.0, which would allow up to 86,202 SF.
The listing agents are Yassin Benkabbou and Salim Valiani of Marcus & Millichap’s Orlando office.
Click HERE to view the listing.
