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

    580 HILLVIEW DRIVE Altamonte Springs, FL 32714

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,620,000

    2.70-acre commercial property in Altamonte Springs, an incredible development opportunity.

    Type:Land or Vacant Lot
    Lot size:
    2.70 Acres
    Added:
    Aug 5, 2024
    Days on Market:
    633
    Last Refresh:
    Apr 5 at 9:37 pm

    Property Features for 580 HILLVIEW DRIVE

    General Information

    Standard status
    Active
    Lot size
    2.70 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    RESHARD BATTLE
    RESHARD BATTLE

    Listing agent RESHARD BATTLE

    Listing office ALL COUNTY CFL PROPERTY MGMT

    Listing date Aug 5, 2024

    Source Corcoran

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

    All listing content including descriptions, pricing, images are the copyrighted material of ALL COUNTY CFL PROPERTY MGMT

    Overview

    Prime Commercial Development Corner Lot

    This 2.70-acre commercial property is located on a corner lot at Hillview Dr & Matthews Rd in Altamonte Springs. Zoned commercial, the raw land offers visibility and accessibility, presenting a development opportunity for commercial or residential projects. Potential uses include a townhome community, office building, self-storage, RV or trucking lot, and retail. An existing structure is on site that can be removed or repurposed. The property is located in a growing area, minutes from I-4, SR 436, and Maitland Blvd, close to major retailers, office parks, and residential communities. It is situated in a rapidly developing commercial corridor with strong traffic counts within the Altamonte Springs business district, which features strong economic growth and infrastructure.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ricky T's Bees Specialty Food Shop Team Mormon Outdoor ... Landscaping

    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
    Altamonte Springs
    County
    Seminole
    State
    Florida
    Longitude
    -81.4063
    Latitude
    28.6475

    Nearby Similar for Sale

    • $3,450,000
      14,924 SF

      Upgraded Office Building For Sale

      Recently upgraded office building on 1.2 acres in Altamonte Springs.
      890 N STATE ROAD 434, ALTAMONTE SPRINGS, FL 32714
      View Details
    • $8,750,000
      31,625 SF

      Altamonte Springs Medical/Retail/Office Center

      Class A, 31,674 SF medical/retail/office center in Altamonte Springs.
      460 E ALTAMONTE DRIVE, ALTAMONTE SPRINGS, FL 32701
      View Details
    • $80,000

      Turnkey Hair Salon Opportunity

      Established hair salon for sale in Altamonte Springs, Florida.
      478 E ALTAMONTE DRIVE, ALTAMONTE SPRINGS, FL 32701
      View Details
    • $1,999,999
      8,445 SF

      Altamonte Springs Office Building

      Office building with open floor plan in Altamonte Springs.
      483 MONTGOMERY PLACE, ALTAMONTE SPRINGS, FL 32714
      View Details
    • $5,314,286
      3,808 SF

      New Construction Starbucks Investment Opportunity

      New construction Starbucks with 15-year corporate lease in Altamonte Springs.
      803 N STATE ROAD 434, ALTAMONTE SPRINGS, FL 32714
      View Details
    • $649,900

      Lakefront Land in Altamonte Springs

      2.83-acre residential parcel with 75 feet of lake frontage.
      472 FOREST LAKE DRIVE, ALTAMONTE SPRINGS, FL 32714
      View Details
    • $765,000
      2,026 SF

      Altamonte Springs Multi-Tenant Property

      Fully leased office/retail property on State Road 436.
      1170 W STATE ROAD 436, ALTAMONTE SPRINGS, FL 32714
      View Details
    • $3,450,000
      14,924 SF

      Altamonte Springs Office Building For Sale

      Recently upgraded office building on 1.2 acres in Altamonte Springs.
      890 N STATE ROAD 434, ALTAMONTE SPRINGS, FL 32714
      View Details
    • $199,900

      Modern Wekiva Office Condo

      Remodeled office condo in Wekiva, move-in ready for professionals.
      421 MONTGOMERY Rd, Altamonte Springs, FL 32714
      View Details
    • $4,500,000
      14,514 SF

      Two-Story Office Building in Orlando

      14,514 SF office building, ideal for owner-user.
      140 N. Westmonte Drive, Altamonte Springs, FL 32714
      View Details
    • $500,000
      1,316 SF

      Altamonte Springs Commercial Opportunity

      Commercial property with renovation potential in a developing area.
      853 N STATE ROAD 434 ROAD, ALTAMONTE SPRINGS, FL 32714
      View Details
    • $239,000

      Development Opportunity in Altamonte Springs

      Two vacant lots for luxury condominium development in 55+ community.
      0 ESCONDIDO, ALTAMONTE SPRINGS, FL 32701
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.70-acre commercial property in Altamonte Springs, an incredible development opportunity.
    Where is this commercial land located?
    The property is located at 580 HILLVIEW DRIVE Altamonte Springs, FL.
    What is the asking price?
    The asking price for this property is $1,620,000.
    What are key features of this property?
    This property features: Prime commercial corner lot with exceptional visibility and accessibility.; Zoned commercial, allowing for multiple development possibilities like townhomes, office, or retail.; Located in a rapidly developing commercial corridor with strong traffic counts.
    (407) 802-2379
    We can help!
    Listing Contact
    RESHARD BATTLE
    RESHARD BATTLE
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!