Historic Mixed-Use
New
For Sale
$900,000
209 N OAK, Sanford, FL 32771
SC-3 zoning supports retail, restaurant, office, and multifamily residential uses.
Property Size6,032 SF
Days on Market6
Property Features for 209 N OAK
General Information
Standard status
Active
Size
6,032 SF
Property subtype
Commercial
Zoning
SC-3
Taxes and HOA fees
Annual Taxes
$4,768
Building Details
Building Size
6,032 SF
Year Built
1887
Buildings
1
Listing Agency:
Sloane Realty, LLC
Listed By:
Matt White · License #3106449
(407) 758-3166
Source:
Elliman
Added: Sep 18
Last Checked: Sep 22 at 4:33PM
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 Sloane Realty, LLC
Investment Insights
Based on property information with market context.
The PICO building at 209 N Oak is a mixed-use property constructed in 1887. Its SC-3 zoning allows retail, restaurant, office, and multifamily residential uses, along with additional permitted and conditional uses subject to review.
The property is within the Downtown Sanford Community Redevelopment Area and sits less than two blocks from Lake Monroe. The site is not in a flood zone. Walk Score is 80, Bike Score is 57, and Transit Score is 29. The seller is planning a three-apartment upper level with a bar and restaurant on the lower level; those improvements are proposed rather than completed.
The property is within the Downtown Sanford Community Redevelopment Area and sits less than two blocks from Lake Monroe. The site is not in a flood zone. Walk Score is 80, Bike Score is 57, and Transit Score is 29. The seller is planning a three-apartment upper level with a bar and restaurant on the lower level; those improvements are proposed rather than completed.
Key Highlights
- Built in 1887
- SC‑3 zoning permits retail, restaurant, office, and multifamily residential uses
- Seller planning 3 apartments upstairs with a bar and restaurant on the lower level
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$79,622
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,592,440
$1.6M
Cap Rate 7%
$1,137,457
$1.1M
Cap Rate 9%
$884,689
$884.7K
Market Conditions
NOI Build-Up for 6,032 SF
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.
Gross rent
$144.8K $24.00/SF
− Vacancy
−$17.4K −$2.88/SF
EGI
$127.4K $21.12/SF
− OpEx
−$47.8K −$7.92/SF
NOI
$79.6K $13.20/SF
Area
Seminole County, FL
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,592,440
Cap Rate 7%
$1,137,457
Cap Rate 9%
$884,689
Alternative Uses
Best Use
Specialty Retail
$1.66M
$1.45M – $1.94M
NOI $116,333 @ 7.0% cap · market cap 12.93%
Second Best
Mixed Use
$1.14M
$995.3K – $1.33M
NOI $79,622 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,157 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
Explore this area
Business Placement
Demographics for 32771, FL
57,178
Population
24,062
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
91%
High-School Grad
37.5 sq mi
ZIP Area
1,525
Density / Sq Mi
$74,520
Median Household Income
$43,321
Median Earnings
$1,584
Median Rent
$332,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - SC-3 zoning supports retail, restaurant, office, and multifamily residential uses.
Where is this mixed-use property located?
The property is located at 209 N OAK Sanford, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Built in 1887; SC‑3 zoning permits retail, restaurant, office, and multifamily residential uses; Seller planning 3 apartments upstairs with a bar and restaurant on the lower level
