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    215 Main St Apopka, FL 32703

    Sponsored
    For Sale
    $2,200,000

    Prime Apopka location, high-traffic area.

    Property size:
    3,334 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This 3,334 sq ft auto shop/oil change business in Apopka, Florida, presents a compelling owner-user or value-add investment opportunity. Located at 215 E Main St, this property boasts high visibility on a major thoroughfare with an estimated 15,000-30,000 vehicles passing daily. The building, constructed in 1978 (effectively 1983), features a brick exterior, metal roof, and central HVAC. Situated on a 0.48-acre lot (20,795 sq ft), it benefits from MU-D zoning, allowing for versatile commercial development. The property is fully connected to municipal utilities and enjoys convenient access to major highways and local amenities. Apopka is a rapidly growing city, with a 2.8% population increase since 2010, a current population of 54,551, and a median household income of $54,744. Average home appreciation in the area is 19% over the last two years. The location offers a Walkability Score of 75/100, surrounded by established businesses including McDonald's, restaurants, and banks. Its proximity to Orlando provides access to the region's robust economy. The area features excellent schools, recreational facilities, and a diverse range of businesses, making it an attractive location for both employees and customers. A 29-minute median commute time further enhances its appeal. This property offers a blend of suburban charm and urban convenience, making it an ideal investment in a thriving Florida community. The asking price is $2,200,000.

    Property Features for 215 Main St

    General Information

    Property type
    Automotive properties
    Square Feet
    3,334 SF

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    Nick Vaseloff
    Nick Vaseloff

    Learn more

    Property Insight Report

    HighLights

    • 215 E Main St, Apopka, FL 32703, a high‑visibility retail property in a mixed‑use (MU‑D) zoning district.
    • 3,334 SF building on a 0.48‑acre lot, built in 1978 (effectively 1983), featuring brick exterior, metal roof, and central HVAC.
    • Excellent accessibility to major highways and local amenities.
    • Connected to municipal water, sewer, and electric.
    • Located in Apopka, FL, a rapidly growing community with a 2.8% population increase since 2010 (current population ~54,551), boasting a median household income of $54,744 and 19% average home appreciation over the last two years.
    • Strong location with a Walkability Score of 75, surrounded by established businesses and offering easy access to Orlando's economic zones. Daily traffic count estimated at 15,000‑30,000 vehicles.
    Property Profile Location Intelligence

    Current Use by Public Records

    Take 5 Oil ... Oil Change Service SunState Tax LLC Tax Preparation Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Apopka
    County
    Orange
    State
    Florida
    Longitude
    -81.5071583
    Latitude
    28.6733953

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    FAQs

    What type of property is this?
    Automotive property - Prime Apopka location, high-traffic area.
    Where is this automotive property located?
    The property is located at 215 Main St Apopka, FL.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: 215 E Main St, Apopka, FL 32703, a high-visibility retail property in a mixed-use (MU-D) zoning district.; 3,334 SF building on a 0.48-acre lot, built in 1978 (effectively 1983), featuring brick exterior, metal roof, and central HVAC.; Excellent accessibility to major highways and local amenities.
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    215 Main St Apopka, FL 32703
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    Apopka, FL 32703
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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
    215 Main St Apopka, FL 32703
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    We can help!
    Listing Contact
    Nick Vaseloff
    Nick Vaseloff
    Real Estate License ID: FL 3571295
    Learn more
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