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    318 S Palmetto Ave Sanford, FL 32771

    Sponsored
    For Sale
    $1,427,700

    Multi Family - SANFORD, FL

    Property size:
    6,112 SF
    Lot size:
    0.34 Acres
    Days on Market:
    88
    Last Refresh:
    Jan 5 at 4:06 pm

    Property Features for 318 S Palmetto Ave

    General Information

    Property type
    Residential Multi Family
    Standard status
    Active
    Security features
    Fire Alarm, Fire Sprinkler System, Smoke Detector(s)
    Zoning
    SC3
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    9
    APN
    25-19-30-5AG-0502-0060
    Interior features
    Built-in Features, Ceiling Fans(s), High Ceilings, Solid Wood Cabinets, Window Treatments
    Exterior features
    Corner Lot, Balcony, Courtyard, Rain Gutters, Sidewalk
    Appliances
    Range, Refrigerator
    Size
    6,112 SF
    Lot size
    0.34 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air, Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1901
    Number of units
    9
    Flooring type
    Tile, Vinyl, Wood
    Building materials
    Frame
    Roof type
    Metal, Shingle
    Architectural style
    Other

    Premium Properties Real Estate Services (407) 380-2800 [email protected]

    Listing agent Debbie Weaver (407) 380-2800 License #3057000

    Listing date Oct 10, 2025

    MLS# O6245237 Listing URL

    Copyright © 2025 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Sanford Multifamily Investment Opportunity

    The Sirrine House, a historic building in Sanford, originally a hotel and converted to apartments in 1929, is available for purchase. Located two blocks south of 1st Street and four blocks from Lake Monroe and the St Johns Riverwalk, this 9-unit apartment building sits on 0.34 acres in downtown. Eight units feature refinished original hardwood floors, some wood doors with glass knobs, 10-foot ceilings, picture rails, and natural light. Historic features include claw foot tubs, drain board kitchen sinks, and tin ceilings and walls, along with built-in cabinets and wardrobes. Porches and balconies offer treetop views. An outside paver patio is available for residents under an oak tree. The property has been updated with re-piping, metal roofs, refinished hardwood floors, gutters, intellijack steel supports, a fire alarm panel, a cellular communicator, and a fire sprinkler system. The property has a history of excellent occupancy with many long-term tenants. Four of the units are furnished and command higher rental rates. Several rents are below market value due to long-term tenants. There is an unfinished 10th unit. The building is located in a walking community with shops, restaurants, night spots, live music, and micro breweries. The property size is 6112 square feet and is zoned SC3.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sirrine House Apartment Apartment Building Secure Locksmith Sanford ... Locksmith

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sanford
    County
    Seminole
    State
    Florida
    Longitude
    -81.26626
    Latitude
    28.809271

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    FAQs

    What type of property is this?
    Apartment building - Historic 9-unit apartment building in downtown Sanford, with income potential.
    Where is this apartment building located?
    The property is located at 318 S Palmetto Ave Sanford, FL.
    What is the asking price?
    The asking price for this property is $1,427,700.
    What are key features of this property?
    This property features: - Historic building in the heart of Downtown Sanford, offering unique charm and character.; - Income-generating property with a history of excellent occupancy and long-term tenants.; - Four furnished units with higher rental rates, and potential to increase rents on other units.
    (407) 380-2800
    Request Owner's contact information
    318 S Palmetto Ave Sanford, FL 32771
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    318 S Palmetto Ave Sanford, FL 32771
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