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    2460-2466 Sr 426 Oviedo, FL 32765

    Sponsored
    For Lease
    $15 SF/Yr

    Prime Oviedo flex space, multiple suites available.

    Lot size:
    53,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional 53,000-square-foot flex space property, located at 2460-2466 West SR 426 in Oviedo, Florida, presents a unique leasing opportunity. Built in 2002, this industrial property sits on a generous 4.93-acre lot and is zoned PCD (Seminole County). The building features a total of two suites, with 6,400 square feet currently vacant and available for lease. The minimum divisible space is 3,200 square feet, and the maximum contiguous space available is also 3,200 square feet. The property boasts desirable features including ceiling heights ranging from 10 to 16 feet, providing ample vertical space for various uses. Four dock-high doors ensure efficient loading and unloading of goods. This location offers excellent access to major transportation routes, making it an ideal choice for businesses requiring convenient logistics. The property's flexible layout and ample space make it suitable for a variety of industrial and flex uses. Interested parties are encouraged to inquire about lease terms and availability for this strategically located Oviedo property. The property's zip code is 32765.

    Property Features for 2460-2466 Sr 426

    General Information

    Property type
    Flex space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    53,000 SF
    Total Rate
    68458.33

    Building Details

    Year Built
    2002

    Unit(s) available at that property

    Space
    Suite 1030
    Size
    3,200 SF
    Rate per SF
    $15
    Space
    Suite 1034
    Size
    3,200 SF
    Rate per SF
    $15

    We can help!

    Listing Contact
    Mary Frances West
    Mary Frances West

    Learn more

    HighLights

    • 53,000± SF flex space in four grade‑level buildings.
    • Grade‑level overhead doors.
    • 10' office and 16' warehouse ceiling heights.
    • PCD zoning (Seminole County).
    • High visibility on Aloma Ave (33,500 AADT).
    • Excellent access to SR 417, SR 434, Dean Road, and University Blvd via SR 426.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Map

    City
    Oviedo
    County
    Seminole
    State
    Florida
    Longitude
    -81.2368636
    Latitude
    28.6360595

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    FAQs

    What type of property is this?
    Flex space - Prime Oviedo flex space, multiple suites available.
    Where is this flex space located?
    The property is located at 2460-2466 Sr 426 Oviedo, FL.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: 53,000± SF flex space in four grade-level buildings.; Grade-level overhead doors.; 10' office and 16' warehouse ceiling heights.
    Request Owner's contact information
    2460-2466 Sr 426 Oviedo, FL 32765
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    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
    2460-2466 Sr 426 Oviedo, FL 32765
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    We can help!
    Listing Contact
    Mary Frances West
    Mary Frances West
    Real Estate License ID: FL 617909
    Learn more
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