Copytronics building sells for $3.1M

One Winter Park office building on a prime piece of land has just come off the market.

The former Copytronics building at 420 S. Orlando Ave. recently was sold by SSS Investments of Jacksonville Inc. for $3.1 million to TCII Capital Group.

The 14,160-square-foot, vacant, two-story office building was built in 1957 and includes 2,500 square feet of warehouse space on the first level. 

It’s a prominent piece of land at a nice location, and that’s part of what determined the price tag, Hold-Thyssen Inc. President Bob Hold said.

“The whole corridor of 17-92 from Lee Road heading south all the way to Orange Avenue is experiencing tremendous dynamics,” said Hold, who listed the property on behalf of the seller. “New restaurants are coming in, and new ventures are coming in. There’s quite a bit of movement. There’s lots of properties that are quietly marketed that are under contract by either users or investors holding for specific use or reconstruction or ultimate sale at some time.”

Prior to the sale, Copytronics Inc. had moved out of the building to another location, leaving the structure vacant before it was placed on the market.

TCII Capital Group plans to renovate the two-story building and bring in tenants. Lee Zerivitz, of City Commercial, represented the buyer, and the deal closed in late May.

Hold said the Copytronics building stands out because it goes street-to-street, and behind it sits Martin Luther King Jr. Park. A new medical office is set to be constructed nearby as well, close to the corner of Orlando and Fairbanks avenues.

Potential buyers took notice of the property’s two entryways when it hit the market in February.

“Access is excellent for this building,” Hold said. “You can go out the back way or the front way. You don’t have an in-and-out experience on 17-92, which is very heavily traveled. That makes these properties along this corridor that have a back ingress and egress very, very desirable.

“As soon as we put our sign up, we got offers the first week,” he said. “This is a very good price for this building. It’s not a bargain; it’s just a fair and equitable price. The action from the building from the minute we put our sign up has been intense. Within the first two weeks we had close to four offers on it.”

Hold said the buyer already has some interested potential tenants for the two floors of the building.

“This is a building where someone would come to expand or to relocate to the area,” Hold said. “It would definitely be a job producer. There’s a reason why people move — better location, they need increased space, their business is going better and they need to add additional personnel. It’s a small job creator, but a job creator nonetheless.”