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    400 Colonial Center Pkwy Lake Mary, FL 32746

    Sponsored
    For Lease
    Contact for pricing

    Prestigious Lake Mary office building, flexible suites.

    Lot size:
    175,674 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    400 TownPark in Lake Mary, Florida, offers a prime opportunity for businesses seeking Class A office space. This single, five-story building, constructed in 2008, boasts a total of 175,674 square feet and features a variety of suite sizes to accommodate diverse needs. Spaces range from a minimum of 3,935 square feet to a maximum contiguous space of 104,000 square feet, making it suitable for both smaller businesses and large corporations. The building is conveniently located at 400 Colonial Center Pkwy, Lake Mary, FL 32746, within the Lake Mary submarket. Multiple tenancy options are available. Building amenities include elevators. This LEED Silver Certified building is a Boma 360 Performance Building, signifying its commitment to high-quality construction and operational efficiency. The property's location in the thriving Lake Mary market provides excellent access to major transportation routes and a wealth of amenities. This is an exceptional opportunity to secure prestigious office space in a highly sought-after location.

    Property Features for 400 Colonial Center Pkwy

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    175,674 SF
    Class
    A

    Building Details

    Year Built
    2008
    Buildings
    1
    Stories
    5

    Unit(s) available at that property

    Space
    Suite 240
    Size
    3,935 SF
    Space
    Suite 290
    Size
    8,927 SF
    Space
    Suite 136
    Size
    3,961 SF
    Space
    Suite 350
    Size
    11,694 SF
    Space
    Suite 400
    Size
    37,772 SF
    Space
    Suite 500
    Size
    37,549 SF

    HighLights

    • Five‑story Class A office building totaling 175,674 square feet in Lake Mary, FL.
    • State‑of‑the‑art fiber optics.
    • Abundant parking.
    • Located in Colonial TownPark, offering nearby retail and restaurants.
    • Excellent access to I‑4 and SR 417.
    • On‑site fitness center with cardio equipment, weights, showers, and lockers.
    Property Profile Location Intelligence

    Current Use by Public Records

    George Patounakis, MD Fertility Physician SemaConnect Charging Station Electric Vehicle Charging Station Blink Charging Station Electric Vehicle Charging Station Jared F. Martinez Investment Service MPSA Corporate Office

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office 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
    Lake Mary
    County
    Seminole
    State
    Florida
    Longitude
    -81.352918
    Latitude
    28.7911396

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    FAQs

    What type of property is this?
    Office space - Prestigious Lake Mary office building, flexible suites.
    Where is this office space located?
    The property is located at 400 Colonial Center Pkwy Lake Mary, FL.
    What are key features of this property?
    This property features: Five-story Class A office building totaling 175,674 square feet in Lake Mary, FL.; State-of-the-art fiber optics.; Abundant parking.
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    400 Colonial Center Pkwy Lake Mary, FL 32746
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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.

    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
    400 Colonial Center Pkwy Lake Mary, FL 32746
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