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    613 Concourse Pkwy Maitland, FL 32751

    Sponsored
    For Lease
    $16 SF/Yr

    Prime Maitland location, flexible office space.

    Lot size:
    10,150 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    415
    This exceptional 10,510-square-foot office property, located at 613 Concourse Parkway South in Maitland, Florida, presents a unique leasing opportunity. The building, constructed in 2011, is a Class B, two-story structure situated on 5.31 acres of land and offers convenient access to major thoroughfares including Maitland Boulevard, I-4, US Highway 17-92 (Orlando Avenue), and Semoran Boulevard (SR 436). The property features ample parking with over 200 spaces and a single elevator. Currently, 10,510 square feet of space is available for lease. The space is divisible, with a minimum leasable area of 5,040 square feet. The maximum contiguous space available is 10,510 square feet. The layout is ideal for a variety of uses, particularly educational institutions. The first floor encompasses 5,040 square feet and includes ten classrooms, two offices, an assembly hall, and a kitchenette. The second floor, comprising 5,110 square feet, contains twelve additional classrooms. The property is zoned PD in Orange County and is within the Maitland submarket. While currently configured for educational use, with shared space used by Ohev Shalom Hebrew School on Wednesday afternoons and Sunday mornings, the versatile design allows for adaptation to other office uses. The property is maintained as a kosher space, requiring all tenants to adhere to a dairy-vegetarian dietary guideline. The property offers a unique opportunity for businesses seeking a well-maintained, conveniently located office space in a thriving area.

    Property Features for 613 Concourse Pkwy

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,150 SF
    Class
    B

    Building Details

    Year Built
    2011
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    First Floor
    Size
    5,040 SF
    Rate per SF
    $16
    Space
    Second Floor
    Size
    5,110 SF
    Rate per SF
    $16

    We can help!

    Listing Contact
    Jeffrey Bloom
    Jeffrey Bloom

    Learn more

    Property Insight Report

    HighLights

    • 10,510 SF of vacant space available for lease in a 2‑story, 10,150 SF building, with a minimum divisible space of 5,040 SF.
    • Building is zoned for primary school (K‑8), not daycare or preschool.
    • Features 200+ parking spaces and one elevator.
    • Located in Maitland, Orange County, with excellent access to Maitland Blvd and I‑4.
    • Property includes 10 classrooms, 2 offices, an assembly hall, and a kitchenette.
    • The first floor (5,040 SF) is leasable separately; the second floor (5,110 SF) is only leasable with the first floor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Congregation Ohev Shalom Synagogue Camen Behavioral Services ... Mental Health Service

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Maitland
    County
    Orange
    State
    Florida
    Longitude
    -81.37198937
    Latitude
    28.63397207

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    FAQs

    What type of property is this?
    Office space - Prime Maitland location, flexible office space.
    Where is this office space located?
    The property is located at 613 Concourse Pkwy Maitland, FL.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: 10,510 SF of vacant space available for lease in a 2-story, 10,150 SF building, with a minimum divisible space of 5,040 SF.; Building is zoned for primary school (K-8), not daycare or preschool.; Features 200+ parking spaces and one elevator.
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    613 Concourse Pkwy Maitland, FL 32751
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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
    613 Concourse Pkwy Maitland, FL 32751
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    We can help!
    Listing Contact
    Jeffrey Bloom
    Jeffrey Bloom
    Real Estate License ID: FL 531788
    Learn more
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