Motivated by recent experimental demonstrations of Floquet topological insulators, there have been several theoretical proposals for using structured light, either spatial or spectral, to create other properties such as flat bands and vortex states. In particular, the generation of vortex states in a massive Dirac fermion insulator irradiated by light carrying nonzero orbital angular momentum (OAM) has been proposed. Here, we evaluate the orbital magnetization and optical conductivity as physical observables for such a system. We show that the OAM of light induces nonzero orbital magnetization and current density. The orbital magnetization density increases linearly as a function of the OAM degree. In certain regimes, we find that orbital magnetization density is independent of the system size, width, and Rabi frequency of light. It is shown that the orbital magnetization arising from our Floquet theory is large and can be probed by magnetometry measurements. Furthermore, we study the optical conductivity for various types of electron transitions between different states such as vortex, edge, and bulk that are present in the system. Based on the peaks in conductance, a scheme for the detection of vortex states is proposed.