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    5589 Lake Howell Rd Winter Park, FL 32792

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    Sponsored
    For Lease
    $8,500 /Mo ($4 SF/Yr)

    Mixed Use - WINTER PARK, FL

    Type:Mixed Use
    Property size:
    23,056 SF
    Lot size:
    0.55 Acres
    Days on Market:
    14
    Last Refresh:
    Mar 19 at 9:06 pm

    Property Features for 5589 Lake Howell Rd

    General Information

    Property type
    Commercial Lease
    Property subtype
    Mixed Use
    Standard status
    Active
    Zoning
    C-2
    APN
    33-21-30-300-0180-0000
    Size
    23,056 SF
    Lot size
    0.55 Acres

    Utilities

    Cooling system
    Zoned

    Building Details

    Year built
    1972
    Building materials
    Metal Siding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Dorothy Jacobson
    Dorothy Jacobson

    Home Wise Realty Group, Inc. (407) 712-2000

    Listing agent Dorothy Jacobson (407) 712-2000 License #498139

    Listing date Mar 5, 2026

    MLS# O6364995 Listing URL

    Copyright © 2026 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.

    Learn more

    Property Insight Report

    Overview

    Winter Park Mixed-Use Opportunity

    This commercial real estate building is a pre-construction opportunity situated on a double commercial lot in Winter Park, FL. The property is zoned C-2 and offers easy permitting and build-out capabilities, requiring only Seminole County permits. A pre-approval letter is already in place for a medical facility. The design prioritizes accessibility, comfort, and a timely construction process. The location is suited to meet the specialized needs of local communities while offering easy accessibility. The property features flexible terms for immediate development and construction access that lowers long-term operating costs and supports environmental responsibility. The property is divided into two separate commercial lots, and the owner is willing to lease the building and land separately if the property is to remain as is. The property is currently leased until May 2, 2026. The lot size is 0.55 acres, with a property size of 23055.6 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Towns Garden Center Landscaping Towns Worldwide Corporate Office

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Winter Park
    County
    Orange
    State
    Florida
    Longitude
    -81.324353
    Latitude
    28.624265

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    FAQs

    What type of property is this?
    Mixed-use property - Double commercial lot in Winter Park, FL, for lease.
    Where is this mixed-use property located?
    The property is located at 5589 Lake Howell Rd Winter Park, FL.
    What is the lease rate?
    The lease rate is $4 SF/Yr.
    What are key features of this property?
    This property features: - Prime location in Winter Park, FL, offering enhanced exposure and accessibility.; - Large double commercial lot zoned C-2, offering significant development potential.; - Pre-approval letter in place for a medical facility, streamlining development.
    (407) 230-5229
    Request Owner's contact information
    5589 Lake Howell Rd Winter Park, FL 32792
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    Winter Park, FL 32792
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    5589 Lake Howell Rd Winter Park, FL 32792
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    We can help!
    Listing Contact
    Dorothy Jacobson
    Dorothy Jacobson
    Real Estate License ID: 498139
    (407) 230-5229 (407) 712-2000
    Learn more
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