Add Listing
    For Sale
    • 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

    Richmond Ave Sanford, FL

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

    Land suitable for business park near Sanford International Airport.

    Type:LAND
    Lot size:
    19.06 Acres
    Added:
    Dec 13, 2023
    Days on Market:
    865
    Last Refresh:
    Apr 5 at 11:21 pm

    Property Features for Richmond Ave

    General Information

    Standard status
    Active
    Lot size
    19.06 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Rafael Mendez
    Rafael Mendez

    Listing agent Rafael Mendez

    Listing office Saunders Commercial | Orlando

    Listing date Dec 13, 2023

    Source Moodyscre

    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 Saunders Commercial | Orlando

    Overview

    Sanford Land Near Airport

    This property is intended for a future business park or commerce park, suitable for industrial park, warehousing, office, public service, or open space. Permitted land use is HIPAP (High Intensity Planned Development Airport). Allowed developments include commercial (airport supportive) and preserve uses. The property is located less than one mile from Sanford International Airport, within a high-growth corridor in Seminole County. Seminole County is recognized as a top county for families and to live in Florida, with a strong labor force of over 250,000 and an average wage of $26.50 per hour. Orlando Sanford International Airport has completed a $65 million expansion project and serves over 3 million passengers annually with over 75 non-stop destinations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Sanford
    County
    Seminole
    State
    Florida
    Longitude
    -81.2071
    Latitude
    28.7798

    Nearby Similar for Sale

    • $395,000
      1,320 SF

      Turnkey Sanford Convenience Store Opportunity

      Fully operational convenience store with real estate and inventory included.
      1805 HISTORIC GOLDSBORO BOULEVARD, SANFORD, FL 32771
      View Details
    • $825,000
      4,493 SF

      Versatile Sanford Commercial Complex

      Three-building complex with restaurant, live/work space, and flex building.
      2516 SANFORD AVENUE, SANFORD, FL 32773
      View Details
    • $890,000
      1,650 SF

      Turnkey Sanford Bar and Grill

      Fully equipped bar and grill with real estate for sale.
      100 S WHITE CEDAR ROAD, SANFORD, FL 32771
      View Details
    • $889,000
      2,152 SF

      Sanford Waterfront Commercial Opportunity

      Prime commercial property in Sanford's thriving waterfront district.
      417 & 419 SANFORD AVENUE, SANFORD, FL 32771
      View Details
    • $740,000

      Prime Commercial Parcel in Sanford

      1.38-acre commercial parcel with redevelopment potential in Sanford, Florida.
      1720 W 1ST STREET, SANFORD, FL 32771
      View Details
    • $699,900
      1,740 SF

      Sanford Industrial Property with Fenced Yard

      2,695 SF Sanford industrial property on 0.43 acres.
      414 W 9TH STREET, SANFORD, FL 32771
      View Details
    • $2,000,000
      7,987 SF

      Remodeled Historic Sanford Mixed-Use Building

      Remodeled historic mixed-use building in Downtown Sanford's vibrant First Street.
      121 E 1ST STREET, SANFORD, FL 32771
      View Details
    • $775,000
      610 SF

      Profitable Drive-Thru Restaurant Opportunity

      Established drive-thru restaurant for sale with real estate included.
      2521 S FRENCH AVENUE, SANFORD, FL 32773
      View Details
    • $289,000
      1,332 SF

      Sanford Mixed-Use Commercial Opportunity

      Versatile commercial space in Sanford with high visibility and parking.
      1013 HISTORIC GOLDSBORO BOULEVARD, SANFORD, FL 32771
      View Details
    • $799,900
      4,272 SF

      Income-Producing Sixplex Near Downtown Sanford

      Updated sixplex near Historic Downtown Sanford with immediate cash flow.
      613 E 2ND STREET, SANFORD, FL 32771
      View Details
    • $350,000

      Established Microbrewery and Restaurant

      Turnkey brewery and restaurant in Historic Downtown Sanford.
      419 S SANFORD AVENUE, SANFORD, FL 32771
      View Details
    • $995,000

      Sanford Land: Development Opportunity Awaits

      9.32 acres of A-1 zoned land in Sanford, Florida.
      1545 PALM WAY, SANFORD, FL 32773
      View Details

    FAQs

    What type of property is this?
    Land - Land suitable for business park near Sanford International Airport.
    Where is this land located?
    The property is located at Richmond Ave Sanford, FL.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: Less than one mile from Sanford International Airport; Located in Seminole County, ranked #1 best county for families and to live in Florida; High growth corridor ideal for business/commerce park, industrial park, warehousing, or office development
    (407) 748-8970 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Rafael Mendez
    Rafael Mendez
    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!