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    0 CHULUOTA ROAD Oviedo, FL 32765

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    For Sale
    $225,000

    Land - OVIEDO, FL

    Lot size:
    0.33 Acres
    Added:
    Nov 27, 2023
    Days on Market:
    891
    Last Refresh:
    May 6 at 1:06 pm

    Property Features for 0 CHULUOTA ROAD

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-2
    Exterior features
    Level, Paved
    Standard status
    Active
    APN
    10-21-31-515-0000-0330
    Lot size
    0.33 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    1179

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jeanie Johnson

    Listing agent Jeanie Johnson License #3335019

    Listing office COLDWELL BANKER REALTY 5965 Red Bug Lake Rd # 101, Plant City, FL

    Listing date Nov 27, 2023

    MLS# O6160436 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Duplex lot with R‑2 zoning, potentially allowing for three houses with detached Accessory Dwelling Units (ADUs).
    • No HOA.
    • Prime location close to Oviedo, UCF, Orlando International Airport, Publix, and Oviedo Mall.
    • Buildable, level lots.
    • Walking distance to Jackson Heights Middle School and close to Oviedo High School.
    • Each lot is approximately 28 feet wide, with updated setbacks allowing for a 22‑foot wide house.

    Overview

    Land Ready For Development

    Three contiguous lots are available for sale together, each with its own parcel identification number. Zoned R-2, the combined lots offer potential for duplex construction. Alternatively, each lot can accommodate a main house with a detached accessory dwelling unit, such as an in-law suite. For example, if the main house is 2,000 square feet, the accessory dwelling can be half the size or smaller. Each lot is 28 feet wide, and current setbacks allow for a 22-foot wide house on each lot with 3-foot setbacks on each side. The lots can also be combined for a single, larger house. The properties are buildable and level. Located within walking distance of Jackson Heights Middle School and close to Oviedo High School. A new road is planned on Broadway, but the property has an off-road entrance. Publix and Winn Dixie grocery stores are nearby, as is Longhorn Steakhouse. The location is minutes from the heart of Oviedo and the Oviedo Mall, with convenient access to UCF College and Orlando International Airport. Numerous parks are also nearby. Situated just off the main road with a buffer street, this location offers a prime opportunity to build a dream home. There is no HOA. New houses are under construction in the surrounding area. Lot dimensions are approximately 28 x 154, 28 x 149, and 28 x 144. Accessory Dwelling can be used as an Airbnb.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Oviedo
    County
    Seminole
    State
    Florida
    Longitude
    -81.196863
    Latitude
    28.670757

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    FAQs

    What type of property is this?
    Residential land & home lot - Three contiguous lots suitable for residential development in Oviedo, Florida.
    Where is this residential land & home lot located?
    The property is located at 0 CHULUOTA ROAD Oviedo, FL.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: Duplex lot with R‑2 zoning, potentially allowing for three houses with detached Accessory Dwelling Units (ADUs).; No HOA.; Prime location close to Oviedo, UCF, Orlando International Airport, Publix, and Oviedo Mall.
    (407) 259-8489
    We can help!
    Listing Contact
    Jeanie Johnson
    Real Estate License ID: 3335019
    Learn More
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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.

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