Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    120 Laurel Ave Sanford, FL 32771

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contract
    $350,000

    Prime commercial land in Sanford's historic downtown district.

    Lot size:
    0.33 Acres

    Property Features for 120 Laurel Ave

    General Information

    Standard status
    Contract
    Lot size
    0.33 Acres

    We can help!

    Listing Contact
    Mike Palombi
    Mike Palombi
    Source: Corcoran

    Listing Agency: COLDWELL BANKER REALTY Listing Agent: Mike Palombi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Sanford Historic Downtown Development Opportunity

    This property presents a development opportunity in the heart of Sanford's historic downtown commercial district. The site features frontage and access from 3rd and 4th Streets. It is a large corner lot located one block off 17-92 and 1st St, with City of Sanford SC-3 infill commercial zoning. The SC-3 Special Commercial zoning allows for many commercial uses and can potentially accommodate multi-family developments. The Future Land Use designation is WDBD, Waterfront Downtown Business District, which allows for minimum set-backs, lower parking requirements, and up to 50 units/acre. The area is experiencing growth with new restaurants and microbreweries opening in the west end of historic downtown Sanford.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    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
    Sanford
    County
    Seminole
    State
    Florida
    Longitude
    -81.2725422
    Latitude
    28.811155

    Nearby Similar for Sale

    • New
      $889,000
      2,152 SF

      Sanford Waterfront Commercial Opportunity

      Prime commercial property in Sanford's thriving waterfront district.
      417 Sanford Ave, Sanford, FL 32771
      View Details
    • New
      $699,900
      1,740 SF

      Sanford Industrial Property with Fenced Yard

      2,695 SF Sanford industrial property on 0.43 acres.
      414 W 9Th St, Sanford, FL 32771
      View Details
    • $395,000
      1,320 SF

      Turnkey Sanford Convenience Store Opportunity

      Fully operational convenience store with real estate and inventory included.
      1805 Historic Goldsboro Blvd, Sanford, FL 32771
      View Details
    • $875,000
      4,493 SF

      Sanford Mixed-Use Commercial Complex

      Versatile commercial complex with multiple buildings and income streams.
      2516 Sanford Ave, Sanford, FL 32773
      View Details
    • $2,450,000
      7,987 SF

      Remodeled Historic Mixed-Use Building

      Remodeled historic commercial building in Downtown Sanford's vibrant business district.
      121 E 1St St, Sanford, FL 32771
      View Details
    • $890,000
      1,650 SF

      Turnkey Sanford Bar and Grill

      Fully equipped bar and grill with real estate for sale.
      100 S White Cedar Rd, Sanford, FL 32771
      View Details
    • $775,000
      610 SF

      Profitable Drive-Thru Restaurant Opportunity

      Established drive-thru restaurant for sale with real estate included.
      2521 S French Ave, Sanford, FL 32773
      View Details
    • $299,000
      1,332 SF

      Sanford Mixed-Use Commercial Opportunity

      Versatile 1,688 SF commercial space in Sanford, Florida.
      1013 Historic Goldsboro Blvd, Sanford, FL 32771
      View Details
    • $350,000

      Established Microbrewery and Restaurant

      Turnkey brewery and restaurant in Historic Downtown Sanford.
      419 S Sanford Ave, Sanford, FL 32771
      View Details
    • New
      $199,999
      Pending

      Sanford Medical/Office Building For Sale

      Concrete block medical building in rapidly expanding Sanford, Florida.
      1204 Historic Goldsboro Blvd, Sanford, FL 32771
      View Details
    • $1,427,700
      6,112 SF

      Historic Sanford Multi-Family Investment

      Historic 9-unit apartment building in downtown Sanford.
      318 S Palmetto Ave, Sanford, FL 32771
      View Details
    • $950,000
      6,032 SF

      Historic Sanford Mixed-Use Opportunity

      Mixed-use property in Sanford's Downtown Community Redevelopment Area.
      209 N Oak Ave, Sanford, FL 32771
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime commercial land in Sanford's historic downtown district.
    Where is this commercial land located?
    The property is located at 120 Laurel Ave Sanford, FL.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: - Prime development opportunity in Sanford's Historic Downtown Commercial District.; - SC-3 Special Commercial zoning allows many commercial uses and potentially multi-family development.; - Future Land Use (WDBD) allows for minimum set-backs, lower parking requirements, and up to 50 units/acre.
    (407) 754-6230
    Request Owner's contact information
    120 Laurel Ave Sanford, FL 32771
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    120 Laurel Ave
    Sanford, FL 32771
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    120 Laurel Ave Sanford, FL 32771
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Mike Palombi
    Mike Palombi
    (407) 754-6230 (407) 333-8088
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!