Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    211 Wheelhouse Ln Lake Mary, FL 32746

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    27-acre mixed-use property with retail and luxury apartments.

    Type:Retail, Office
    Property size:
    200,000 SF
    Lot size:
    27.00 Acres
    Added:
    Feb 5, 2024
    Days on Market:
    806
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 211 Wheelhouse Ln

    General Information

    Standard status
    Active
    Size
    200,000 SF
    Lot size
    27.00 Acres
    Property subtype
    Retail, Office

    Spaces For Lease

    at 211 Wheelhouse Ln Contact us

    We can help!

    Listing Contact
    Ari Ravi
    Ari Ravi

    Listing agent Ari Ravi License #SL- 3210827

    Listing office Ripco Real Estate

    Listing date Feb 5, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Ripco Real Estate

    Overview

    Premier Mixed-Use Property in Lake Mary

    Griffin Farm at Midtown Shopping Center is a 27-acre mixed-use property in Lake Mary, Central Florida. It features 200,000 square feet of retail space and 500 luxury apartments, complemented by expansive green areas. The center hosts diverse national retailers, dining options, and entertainment venues, providing a culinary spectrum from casual to fine dining. Positioned at Lake Mary Boulevard and Country Club Road, it offers convenient access to highways, business parks, and residential neighborhoods. The retail section accommodates fashion boutiques, home decor, wellness shops, and beauty salons. Griffin Farm creates a unique blend of accessibility, luxury, and entertainment with lush landscaping, walking trails, fountains, and scenic spots, making it a prime destination in the vibrant Lake Mary region.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Mary
    County
    Seminole
    State
    Florida
    Longitude
    -81.3431
    Latitude
    28.7595

    Nearby Similar for Lease

    • Contact for pricing

      Lake Mary Office Space Available

      Prime office space in Lake Mary, move-in ready.
      1325 S INTERNATIONAL PKWY, LAKE MARY, FL 32746
      View Details
    • Contact for pricing

      Lake Mary Office Space Available

      Well-maintained office space in a prime Lake Mary location.
      3232 W LAKE MARY BOULEVARD, LAKE MARY, FL 32746
      View Details
    • Contact for pricing

      Professional Office Space in Lake Mary

      Professional office space in Lake Mary, available March 2026.
      3256 W LAKE MARY BOULEVARD, LAKE MARY, FL 32746
      View Details
    • Contact for pricing

      Downtown Lake Mary End Unit

      End unit office space in Downtown Lake Mary for lease.
      142 PARLIAMENT LOOP, LAKE MARY, FL 32746
      View Details
    • Contact for pricing

      Move-In Ready Office Space

      Office space for lease in Seminole County location.
      1325 S INTERNATIONAL PKWY 2221, Lake Mary, FL 32746
      View Details
    • $20/mo

      Lake Mary Professional Office Space

      996 SF professional office space in Lake Mary, Florida.
      1045 PRIMERA BOULEVARD, LAKE MARY, FL 32746
      View Details
    • $20/mo

      Lake Mary Medical/Professional Office

      1261 SF office space suitable for medical or professional use.
      1045 PRIMERA BOULEVARD, LAKE MARY, FL 32746
      View Details
    • Sponsored
      Contact for pricing

      Lake Mary

      801 International Pkwy, Unit 5TH, Lake Mary, FL 32746
      View Details
    • Contact for pricing

      Office Space in Lake Mary

      Office space available for rent in Lake Mary, Florida.
      1325 S INTERNATIONAL PKWY 2221, LAKE MARY, FL 32746
      View Details
    • $18/mo

      Lake Mary Office Space Available

      28,183± SF office space in Lake Mary, excellent location.
      3300 West Lake Mary Blvd, Lake Mary, FL 32746
      View Details
    • $20/mo

      Lake Mary Medical/Professional Office

      1216 SF office space suitable for medical or professional use.
      1045 PRIMERA BOULEVARD, LAKE MARY, FL 32746
      View Details
    • $30,000/mo

      Lake Mary Office Space Available

      Office unit available for rent in Lake Mary, Florida.
      3232 W LAKE MARY BOULEVARD 1410, LAKE MARY, FL 32746
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 27-acre mixed-use property with retail and luxury apartments.
    Where is this mixed-use property located?
    The property is located at 211 Wheelhouse Ln Lake Mary, FL.
    What are key features of this property?
    This property features: Premier mixed‑use property with **200,000 sq ft of retail and 500 luxury apartments.**; Diverse national retailers, dining options, and entertainment venues on‑site.; Convenient access to highways, business parks, and residential neighborhoods.
    (727) 452-6864 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ari Ravi
    Ari Ravi
    Real Estate License ID: SL- 3210827
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!