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    Property profile & analytics

    2563 Park Dr Sanford, FL 32773

    • Retail space
    • 2,914 SF
    • 0.72 lot acres
    OFF-MARKET
    Last Sale
    Nov 17, 2023
    $650,000
    Value Estimations
    $625,000
    Show details
    Cap Rate Potential
    9.5%
    Retail space
    Location Intelligence
    Property ID
    US18-2825147
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 2563 Park Dr

    Year built
    1959
    Construction
    CONCRETE
    Lot size
    0.72 lot acres
    Property size
    2,914 SF
    Property type
    Retail space
    APN
    01-20-30-504-0600-0010
    APU
    1203050406000010

    Description

    This exceptional 10,623 square foot shopping center in Sanford, Florida, presents a compelling value-add opportunity. Currently 100% occupied with six units, the property boasts a strong NOI of $85,378, yielding a 6.83% cap rate at the $1,250,000 asking price. However, with below-market rents and leases expiring within one year, a significant pro-forma NOI of $174,355 and a 13.95% pro-forma cap rate are projected. Built in 1957 and renovated in 1980, this single-story building sits on a 31,363 square foot lot, zoned GC2. Its prime location near I-4 and SR 417 provides easy access to Orlando and Daytona Beach, while proximity to Orlando Sanford International Airport enhances its appeal. The thriving Sanford market, with its diverse economy and growing population, ensures strong tenant demand. This property offers immediate cash flow with substantial upside potential through lease renewals at market rates and potential property improvements. The current tenant mix provides stability and reduced risk. This is a rare opportunity to acquire a well-located, income-producing asset with significant value appreciation potential in a rapidly growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Estimation
      $600,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $650,000
      6.5%
      $690,000
      7%
      $670,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $670,000
      Geo Method
      $665,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $710,000
      Retail
      $730,000
      Mixed-Use
      $700,000
      Hospitality
      $710,000
      Educational
      $730,000
      Residential Income
      $675,000
      Energy
      $545,000
      Income-Based Land
      $655,000
      Food Service
      $655,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sanford
    County
    Seminole
    State
    Florida
    Longitude
    -81.2713
    Latitude
    28.7828
    CBSA code
    36740
    CBSA name
    ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,845
    $0.00
    $0.00
    $498,088
    -
    $124,511
    $373,577
    $498,088

    Comparable in this City

    • Value Estimation by Request
      6,960 SF

      2508 French Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,960 SF
      2508 French Ave, Sanford, FL 32773-5320
      View Details
    • Value Estimation by Request
      6,500 SF

      3215 Orlando Dr

      RETAIL STORES (PERSONAL SERVICES) • 6,500 SF
      3215 Orlando Dr, Sanford, FL 32773-5603
      View Details
    • Value Estimation by Request
      11,200 SF

      3798 Orlando Dr

      RETAIL STORES (PERSONAL SERVICES) • 11,200 SF
      3798 Orlando Dr, Sanford, FL 32773-5614
      View Details
    • Value Estimation by Request
      326 SF

      2601 Sanford Ave

      RETAIL STORES (PERSONAL SERVICES) • 326 SF
      2601 Sanford Ave, Sanford, FL 32773-5249
      View Details
    • Value Estimation
      $135,000
      1,770 SF

      2510 Oak Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,770 SF
      2510 Oak Ave, Sanford, FL 32773-4100
      View Details
    • Value Estimation
      $5,675,000
      15,465 SF

      2501 French Ave

      RETAIL STORES (PERSONAL SERVICES) • 15,465 SF
      2501 French Ave, Sanford, FL 32773-5302
      View Details

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    Similar Nearby for Lease

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    2563 Park Dr
    Sanford, FL 32773
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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
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