209 N OAK, Sanford, FL 32771

Building Details

Building Size 6,032 SF More

Year Built 1887 More

Buildings 1 More

Listing Agency: Sloane Realty, LLC

Listed By: Matt White · License #3106449 Show Phone

Source: Elliman

Added: Sep 18 Changed: Nov 5 Last Checked: Nov 8 at 7:01AM

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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

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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.

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 / Yr

$79,622

Cap Rate

8.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,592,440 $1.6M

Cap Rate 7%

$1,137,457 $1.1M

Cap Rate 9%

$884,689 $884.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,032 SF

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 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 (±1% cap)

NOI $116,333 @ 7.0% cap · market cap 12.93%

Second Best

Mixed Use

$1.14M

$995.3K – $1.33M (±1% cap)

NOI $79,622 @ 7.0% cap · market cap 8.85%

Theoretical Best

Office A

$1.72M

$1.50M – $2.00M (±1% cap)

NOI $120,157 @ 7.0% cap · market cap 13.35%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

TDH Construction Inc. Construction Company PICO Building Corporate Office

Suggested Use

Top Pick Dental Office Electrical Service Real Estate Agency Building Supply (Bike/Boat/Book/etc) Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Average Price Trend$/SF for Mixed-use properties in Seminole County, FL

$382 Jul

$228 Aug

$233 Sep

$261 Oct

Properties on Market for Mixed-use properties in Seminole County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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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