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    312 1St St Sanford, FL 32771

    Sponsored
    For Lease
    $34 SF/Yr

    Prestigious 5th-floor office space, stunning city views.

    Lot size:
    51,634 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional Class A office space, located at 312 W 1st St in Sanford, Florida's vibrant Downtown submarket, offers 1,697 square feet of meticulously maintained executive office suites on the 5th floor of a six-story building. Built in 1974 and extensively renovated in 2016, the property boasts a total of 51,634 square feet within a single building situated on a 2.05-acre lot. The suite features a welcoming reception area and a convenient conference room, providing breathtaking views of the Sanford cityscape. Amenities include a shared kitchen and break room, ensuring employee comfort and convenience. Secure elevator access guarantees both privacy and easy accessibility for clients and staff. The space is zoned SC3 and features all utilities included in the price (water and electricity). The property's APN is 25-19-30-5AG-0206-0010. This is a multiple tenancy building. This turnkey solution is ideal for businesses seeking a prestigious and functional workspace in the heart of Downtown Sanford.

    Property Features for 312 1St St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    51,634 SF
    Class
    A
    Total Rate
    146296.33

    Building Details

    Year Built/Renovated
    1974/2016
    Buildings
    1
    Stories
    6

    Unit(s) available at that property

    Space
    Suite 510
    Size
    209 SF
    Rate per SF
    $37
    Space
    Suite 505
    Size
    147 SF
    Rate per SF
    $45
    Space
    Suite 509
    Size
    209 SF
    Rate per SF
    $34

    We can help!

    Listing Contact
    Luke Sawyer
    Luke Sawyer

    Learn more

    Property Insight Report

    HighLights

    • Lease includes utilities.
    • Enjoy stunning views of downtown Sanford.
    • Walking distance to numerous restaurants.
    • Minutes from Orlando Sanford International Airport.
    • Convenient access to I‑4.
    Property Profile Location Intelligence

    Current Use by Public Records

    Village Tax Services ... Tax Consultant Numonohi Christian Academy High School Ethnos360 Non-Profit Organization Counseling Concepts Inc Counselor Danglade Joyce Family Counselor

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Sanford
    County
    Seminole
    State
    Florida
    Longitude
    -81.270309145702
    Latitude
    28.811726558101

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    FAQs

    What type of property is this?
    Office Property / Space - Prestigious 5th-floor office space, stunning city views.
    Where is this office property / space located?
    The property is located at 312 1St St Sanford, FL.
    What is the lease rate?
    The lease rate is $34-$45 SF/Yr.
    What are key features of this property?
    This property features: Lease includes utilities.; Enjoy stunning views of downtown Sanford.; Walking distance to numerous restaurants.
    Request Owner's contact information
    312 1St St Sanford, FL 32771
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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
    312 1St St Sanford, FL 32771
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    We can help!
    Listing Contact
    Luke Sawyer
    Luke Sawyer
    Real Estate License ID: FL 3338336
    Learn more
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