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

    2698 W Lake Mary Blvd Lake Mary, FL 32746

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial land on W Lake Mary Blvd, ideal for development.

    Lot size:
    0.29 Acres

    Property Features for 2698 W Lake Mary Blvd

    General Information

    Standard status
    Active
    Lot size
    0.29 Acres

    We can help!

    Listing Contact
    Kimberly Metcalf
    Source: Corcoran

    Listing Agency: THE C SMITH REAL ESTATE GROUP LLC Listing Agent: Kimberly Metcalf

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

    Learn more

    Overview

    Lake Mary Commercial Land Opportunity

    This commercial vacant land is located on W Lake Mary Blvd in the Lake Mary business corridor. The site offers visibility and frontage along a well-traveled roadway. It is suitable for medical office, professional office, retail, or commercial development. The property is near I-4, major employment centers, residential communities, and established medical and professional offices. Public utilities including water, sewer, and electric service are available in the area. This supports development potential for builders, investors, or end users seeking commercial land in a strong Central Florida market. Lake Mary is recognized for its strong demographics, corporate presence, and continued commercial expansion. This location is an opportunity for medical users, office developers, or investors looking to secure commercial land in a high-demand location.
    Location Intelligence

    Current Use by Public Records

    Water Damage Services ... Hardware & Home Improvement

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Mary
    County
    Seminole
    State
    Florida
    Longitude
    -81.3273379
    Latitude
    28.7565159

    Nearby Similar for Sale

    • $1,590,000
      4,900 SF

      Versatile Mixed-Use Commercial Property

      Commercial property ideal for retail, office, or showroom uses.
      141 Parliament Loop, Lake Mary, FL 32746
      View Details
    • $420,000
      1,293 SF

      Lake Mary Office For Sale

      Office space in Lake Mary, Florida, with ample parking.
      1355 S International Pkwy, Lake Mary, FL 32746
      View Details
    • $6,086,000
      9,809 SF

      New Retail Buildings For Sale

      New construction retail buildings with long-term leases near Orlando Health.
      438 Rinehart Rd, Lake Mary, FL 32746
      View Details
    • $395,000

      Lake Mary Professional Office Space

      Turn-key office space with updated features in Lake Mary.
      1331 S International Pkwy, Lake Mary, FL 32746
      View Details
    • $1,995,000

      Stand-Alone Office Building For Sale

      5,000 SF office building in Lake Mary's Central Parc.
      960 International Pkwy, Lake Mary, FL 32746
      View Details
    • $7,000,000

      Lake Mary Office Building For Sale

      Three-story office building with high occupancy and prime location.
      3300 West Lake Mary Blvd, Lake Mary, FL 32746
      View Details
    • $420,000
      1,293 SF

      Office Suite in Lake Mary

      Office suite with ample parking in Lake Mary, Florida.
      1355 S International Pkwy, Lake Mary, FL 32746
      View Details
    • Contact for pricing
      175,231 SF

      Lake Mary Office Building Opportunity

      175,231 sq ft office building in Lake Mary, FL.
      225 International Pkwy, Lake Mary, FL 32746
      View Details
    • $339,900
      1,260 SF

      Lake Mary Professional Office Space

      Turn-key office space with updated features in Lake Mary.
      1331 S International Pkwy, Lake Mary, FL 32746
      View Details
    • Contact for pricing
      1,899 SF

      Mixed-Use Property in Lake Mary

      Premier mixed-use property with retail and luxury apartments in Florida.
      223 Wheelhouse Ln, Lake Mary, FL
      View Details
    • Contact for pricing
      1,750 SF

      Mixed-Use Property in Lake Mary

      Premier mixed-use property with retail and luxury apartments.
      229 Wheelhouse Ln, Lake Mary, FL
      View Details
    • $155,000

      Lake Mary Office Space Available

      Office space in excellent condition near downtown Lake Mary.
      2500 W Lake Mary Blvd, Lake Mary, FL 32746
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land on W Lake Mary Blvd, ideal for development.
    Where is this commercial land located?
    The property is located at 2698 W Lake Mary Blvd Lake Mary, FL.
    What are key features of this property?
    This property features: - Prime location on W Lake Mary Blvd in a high-demand business corridor.; - Excellent visibility and frontage on a well-traveled roadway.; - Ideal for medical office, professional office, retail, or commercial development.
    (407) 705-7797
    Request Owner's contact information
    2698 W Lake Mary Blvd Lake Mary, FL 32746
    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.
    2698 W Lake Mary Blvd
    Lake Mary, FL 32746
    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
    2698 W Lake Mary Blvd Lake Mary, FL 32746
    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
    Kimberly Metcalf
    (407) 705-7797
    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!