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    Property profile & analytics

    12189 Colonial Dr Orlando, FL 32826

    • Neighborhood centers
    • 45,555 SF
    For Lease
    View listing
    $35 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • SoCal Smoke Shop UCF / (Bike/Boat/Book/etc) Store

    Property Details for 12189 Colonial Dr

    Year built
    2020
    Property size
    45,555 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    Park Square Plaza, a Class A retail center in Orlando, Florida, offers exceptional leasing opportunities. Located at 12189 E Colonial Dr, Orlando, FL 32826, this vibrant strip center boasts a total of 45,555 square feet and sits on an expansive 11.4-acre lot. The property is conveniently situated near Cricket Club Circle, ensuring high visibility and accessibility. Built in 2020, the center features a mix of retail and medical tenants. Currently, there is 4,092 square feet of contiguous space available, ideal for a variety of businesses. Flexible lease options are available, with minimum divisible space starting at 1,646 square feet. The property is zoned for commercial use and offers a total of 8185 suites. This prime location in Orlando presents a unique chance to establish or expand your business within a thriving commercial environment. The property's modern construction and strategic location make it an attractive option for businesses seeking a high-traffic area with ample space. Contact us today to learn more about leasing opportunities at Park Square Plaza.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Orange
    State
    Florida
    Longitude
    -81.1997
    Latitude
    28.5666

    Comparable in this City

    • Value Estimation
      $1,995,000
      43,580 SF

      4498 Alafaya Trl

      SHOPPING CENTER, STRIP CENTER • 43,580 SF
      4498 Alafaya Trl, Orlando, FL 32826-2303
      View Details
    • Value Estimation
      $2,515,000
      70,835 SF

      11841 Colonial Dr

      SHOPPING CENTER, STRIP CENTER • 70,835 SF
      11841 Colonial Dr, Orlando, FL 32826-4723
      View Details
    • Value Estimation
      $1,605,000
      25,433 SF

      14775 Colonial Dr

      SHOPPING CENTER, STRIP CENTER • 25,433 SF
      14775 Colonial Dr, Orlando, FL 32826
      View Details
    • Value Estimation by Request
      2,520 SF

      13645 Colonial Dr

      Restaurants • 2,520 SF
      13645 Colonial Dr, Orlando, FL 32826
      View Details
    • Value Estimation
      $2,455,000
      16,851 SF

      12014 Colonial Dr

      RETAIL STORES (PERSONAL SERVICES) • 16,851 SF
      12014 Colonial Dr, Orlando, FL 32826-4750
      View Details
    • Value Estimation
      $2,880,000
      16,035 SF

      3000 Alafaya Trl

      RETAIL STORES (PERSONAL SERVICES) • 16,035 SF
      3000 Alafaya Trl, Orlando, FL 32826-3206
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,610 SF

      Corner Lot Auto Facility

      Auto sales and repair facility on a corner lot.
      14445 E Colonial Dr, Orlando, FL 32826
      View Details
    • $850,000
      3.97 Acres

      Prime East Orlando Development Land

      4-acre parcel in prime East Orlando location, zoned P-D.
      15071 E Colonial Dr, Orlando, FL 32826
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    • $630,000

      Land Available on Colonial Drive

      Land for sale on East Colonial Drive in Orlando.
      12528 E Colonial Dr, Orlando, FL 32826
      View Details
    • Contact for pricing
      3,445 SF

      Orlando Executive Office Building

      High-Demand, 100% Leased Office
      1858 Alafaya Trl, Orlando, FL 32826
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    • $175,000
      0.59 Acres

      Residential Land in Orlando

      0.59 acre residential lot near UCF and Hwy 50.
      Percival Rd, Orlando, FL 32826
      View Details
    • $183,000
      Pending

      Residential Land in Prime Location

      Nearly half-acre lot with utilities, tear-down home, great location.
      14047 Lake Price Dr, Orlando, FL 32826
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      45,555 SF

      Park Square Plaza Retail Space

      Orlando Retail Center: Prime Location, Flexible Suites
      12189 Colonial Dr, Orlando, FL 32826
      View Details
    • Contact for pricing
      2,580 SF

      Freestanding Restaurant Building with Drive-Thru

      Freestanding restaurant with drive-thru, built in 2022, excellent visibility.
      12309 E Colonial Dr, Orlando, FL 32826
      View Details
    • Contact for pricing
      2,748 SF

      Retail Space Near UCF

      Retail space available in a high-traffic Orlando location.
      11841-11931 E Colonial Dr, Orlando, FL 32826
      View Details
    • Contact for pricing
      62,952 SF

      Retail Space in Alafaya Commons

      Retail space available in Orlando's Alafaya Commons Shopping Center.
      11955 E Colonial Dr, Orlando, FL 32826
      View Details
    • Contact for pricing
      2,391 SF

      Retail Space Near UCF

      Retail space available near UCF and student housing.
      12187-12189 E Colonial Dr, Orlando, FL 32826
      View Details
    • $3,000 /Mo
      6,262 SF

      High-Visibility Retail Space on Colonial Drive

      Prime retail space on a vibrant Orlando corridor with high traffic.
      14200 E Colonial Dr, Orlando, FL 32826
      View Details
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    12189 Colonial Dr
    Orlando, FL 32826
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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
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