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    493 Fl-436 Casselberry, FL 32707

    Sponsored
    For Lease
    $14 SF/Yr

    Casselberry Office Space: 6,866-16,172 SF

    Lot size:
    65,448 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional 65,448 square foot office complex, situated on a 6.82-acre site in Casselberry, offers a unique opportunity. The property comprises four buildings, each with its own distinct character, totaling 65,448 square feet. Currently, three spaces are available, ranging from 6,866 to 16,172 contiguous square feet, ideal for a variety of office uses, including executive, medical, and traditional office settings. Building 497, a former data center, offers unique features and some existing fixtures and equipment. The complex boasts a campus-like setting with ample parking (6 spaces per 1000 square feet), convenient access, and prominent pylon and building signage opportunities. The buildings feature 16-18 foot clear ceiling heights and three-phase power. Recent renovations include a new roof and landscaping. The property is zoned GC and benefits from fiber optic connectivity. Building sizes are: 489 (15,116 SF, leased), 493 (11,746 SF, leased), 495 (13,396 SF, under renovation), and 497 (25,172 SF, partially available). Lease rates start at $14.00 NNN with a minimum five-year term. This prime location offers easy access to banking and restaurants. Don't miss this chance to secure your ideal office space in this thriving area.

    Property Features for 493 Fl-436

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    65,448 SF
    Total Rate
    76356

    Building Details

    Year Renovated
    2021
    Buildings
    4
    Stories
    1

    Unit(s) available at that property

    Space
    Bld. 497 ; Suite 115
    Size
    6,866 SF
    Rate per SF
    $14
    Space
    Bld 497 Suite 135
    Size
    9,306 SF
    Rate per SF
    $14
    Space
    Bld. 495
    Size
    13,396 SF
    Rate per SF
    $14

    We can help!

    Listing Contact
    Vincent Wolle
    Vincent Wolle

    Learn more

    HighLights

    • 65,448 SF four‑building office complex on 6.82 acres in the SR 436 & Hwy 17‑92 area.
    • Campus‑style setting near banks and restaurants.
    • GC zoning, 4.5/1000 parking ratio, and easy access.
    • Pylon and building signage available; 3‑phase power; 16‑18' clear ceiling height.
    • Recently renovated with new roof and landscaping.
    • Fiber optic service available; Building 497 previously housed a data center with some existing FF&E.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Map

    City
    Casselberry
    County
    Seminole
    State
    Florida
    Longitude
    -81.3332243
    Latitude
    28.6546424

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    FAQs

    What type of property is this?
    Medical office - Casselberry Office Space: 6,866-16,172 SF
    Where is this medical office located?
    The property is located at 493 Fl-436 Casselberry, FL.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: 65,448 SF four-building office complex on 6.82 acres in the SR 436 & Hwy 17-92 area.; Campus-style setting near banks and restaurants.; GC zoning, 4.5/1000 parking ratio, and easy access.
    Request Owner's contact information
    493 Fl-436 Casselberry, FL 32707
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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
    493 Fl-436 Casselberry, FL 32707
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    We can help!
    Listing Contact
    Vincent Wolle
    Vincent Wolle
    Real Estate License ID: FL 688271
    Learn more
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