Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Two-Story Condo with Green Space Title is generated by Realmo AI

    6924 WOODLAKE DRIVE 104, Orlando, FL 32810

    View on Map
    Claim this Listing
    For Sale
    $220,500

    Cozy condo with fireplace, patio, and convenient location.

    Type:Condo/Townhome
    Property size:
    1,004 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $219/SF
    Added:
    Dec 19, 2024
    Days on Market:
    533
    Last Refresh:
    May 19 at 11:56 pm

    Property Features for 6924 WOODLAKE DRIVE 104

    General Information

    Standard status
    Active
    Size
    1,004 SF
    Lot size
    0.10 Acres
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Sean Ferguson

    Listing agent Sean Ferguson License #701392

    Listing office BERKSHIRE HATHAWAY HOMESERVICES RESULTS REALTY

    Listing date Dec 19, 2024

    Source Exitrealty

    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 BERKSHIRE HATHAWAY HOMESERVICES RESULTS REALTY

    HighLights

    • Two primary suites with full bathrooms upstairs
    • Convenient location near shopping, dining, entertainment, outdoor recreation, I‑4, and toll roads
    • New roof installed in January 2025
    • Private patio overlooking a beautiful green space
    • Wood‑burning fireplace in the spacious living room
    • Kitchen with plenty of storage, stylish backsplash, and eat‑in space

    Overview

    This two-story condominium at Magnolia Bay features a front porch, a spacious living room with a wood-burning fireplace, and a kitchen equipped with storage space, a stylish backsplash, and an eat-in space. A sliding door provides access to a private patio overlooking a green space. The layout includes two primary suites with full bathrooms upstairs, and a half bathroom downstairs. The community is conveniently located near shopping, dining, entertainment, outdoor recreation, and major highways, including I-4 and toll roads, providing access to Central Florida. A new roof was installed by the HOA as of January 2025. The property size is 1004 square feet.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $25.3k $25.20
    − Vacancy −$1.6k −$1.64
    EGI $23.7k $23.56
    − OpEx −$10.6k −$10.60
    NOI $13.0k $12.96
    1,004 SF · lease $25.20/SF/yr · vacancy 6.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $185.9K
    $162.6K – $216.9K (±1% cap)
    NOI $13,011 @ 7.0% cap · market cap 5.90%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $323.4K
    $283.0K – $377.3K (±1% cap)
    NOI $22,640 @ 7.0% cap · market cap 10.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Brevard
    State
    Florida
    Longitude
    -81.4297219
    Latitude
    28.6248131

    Nearby Similar for Sale

    • $509,940
      2,833 SF

      Turn-Key 12th-Floor Office Suite

      Turn-key office suite on the 12th floor with a private balcony and professional furniture included.
      121 S ORANGE AVENUE, ORLANDO, FL 32801
      View Details
    • $3,250,000
      12,885 SF

      Orlando Retail Investment Opportunity

      Freestanding retail building in historic Washington Shores neighborhood.
      3625 COLUMBIA STREET, ORLANDO, FL 32805
      View Details
    • $4,200,000
      14,614 SF

      Orlando Industrial Warehouse Space

      Corner lot warehouse with frontage and potential barber shop.
      2698 S ORANGE BLOSSOM TRAIL, ORLANDO, FL 32805
      View Details
    • $900,000
      8,276 SF

      Orlando Industrial Complex For Sale

      Two-building industrial complex in Orlando with flexible zoning.
      4120 ROUSH AVENUE, ORLANDO, FL 32803
      View Details
    • $1,850,000
      693 SF

      Orlando Warehouse with Office Space

      Versatile commercial warehouse with office, ideal for rental.
      560 BARRY STREET, ORLANDO, FL 32808
      View Details
    • $2,500,000
      3,996 SF

      Mechanic Shop/Retail Property in Orlando

      Well-located mechanic shop/retail property with established automotive infrastructure.
      4070 S GOLDENROD ROAD, ORLANDO, FL 32822
      View Details
    • $1,850,000
      3,280 SF

      Downtown Orlando Freestanding Office Building

      Move-in ready office building with private parking in downtown Orlando.
      127 N MAGNOLIA AVENUE, ORLANDO, FL 32801
      View Details
    • $4,150,000
      14,302 SF

      Renovated Industrial Building For Sale

      14,302 SF renovated industrial building with offices and warehouses.
      3852 L B MCLEOD ROAD, ORLANDO, FL 32805
      View Details
    • $7,700,000
      36,268 SF

      Class A Orlando Office Building

      Environmentally conscious 36,268 sqft office building for sale.
      429 S KELLER ROAD, ORLANDO, FL 32810
      View Details
    • $570,000
      1,098 SF

      Versatile Mixed-Use Property in Orlando

      Flexible commercial space near key Orlando locations, ideal for various businesses.
      4749 HARGRAVE STREET, ORLANDO, FL 32803
      View Details
    • $215,000
      297 SF

      Creative Commercial Condo in Orlando

      Versatile commercial condo ideal for creative or professional business.
      1118 S ORANGE AVENUE, ORLANDO, FL 32806
      View Details
    • $1,200,000
      3,051 SF

      Income-Producing Duplex in Delaney/Lake Como

      Key West style duplex in desirable Orlando location, built in 2015.
      2544 MAYER STREET, ORLANDO, FL 32806
      View Details

    FAQs

    What type of property is this?
    Residential income property - Cozy condo with fireplace, patio, and convenient location.
    Where is this residential income property located?
    The property is located at 6924 WOODLAKE DRIVE 104 Orlando, FL.
    What is the asking price?
    The asking price for this property is $220,500.
    What are key features of this property?
    This property features: Two primary suites with full bathrooms upstairs; Convenient location near shopping, dining, entertainment, outdoor recreation, I‑4, and toll roads; New roof installed in January 2025
    (407) 256-7698
    We can help!
    Listing Contact
    Sean Ferguson
    Real Estate License ID: 701392
    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

    Thank You for Inquiry
    6924 WOODLAKE DRIVE 104, ORLANDO, FL 32810
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!