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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1024 Lockwood Blvd Oviedo, FL 32765-6027

    • Drive through restaurants
    • 988 SF
    • 1.25 lot acres
    OFF-MARKET
    Value Estimations
    $1,095,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2758085
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Jeremiah's Italian Ice / Ice Cream Shop / Dessert Shop

    Property Details for 1024 Lockwood Blvd

    Year built
    2000
    Construction
    CONCRETE
    Lot size
    1.25 lot acres
    Property size
    988 SF
    Property type
    Drive through restaurants
    APN
    14-21-31-507-0000-0080
    APU
    14213150700000080

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,096,000
      Market price range: $316k - $1.10M
      AI Estimate
      $1,096,000
      Market price range: $316k - $1.10M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Oviedo
    County
    Seminole
    State
    Florida
    Longitude
    -81.18
    Latitude
    28.6571
    CBSA code
    36740
    CBSA name
    ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,413
    $0.00
    $0.00
    $945,222
    -
    $792,792
    $152,430
    $945,222

    Comparable in this City

    • Value Estimation
      $4,880,000
      4,753 SF

      205 Mitchell Hammock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,753 SF
      205 Mitchell Hammock Rd, Oviedo, FL 32765-4701
      View Details
    • Value Estimation
      $1,645,000
      2,088 SF

      305 Mitchell Hammock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,088 SF
      305 Mitchell Hammock Rd, Oviedo, FL 32765-4702
      View Details
    • Value Estimation
      $1,175,000
      2,637 SF

      960 Mitchell Hammock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,637 SF
      960 Mitchell Hammock Rd, Oviedo, FL 32765-8101
      View Details
    • Value Estimation
      $2,700,000
      3,448 SF

      8301 Red Bug Lk Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,448 SF
      8301 Red Bug Lk Rd, Oviedo, FL 32765-6860
      View Details
    • Value Estimation
      $1,615,000
      2,808 SF

      1859 County Rd 419

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,808 SF
      1859 County Rd 419, Oviedo, FL 32765-8499
      View Details
    • Value Estimation
      $1,895,000
      2,450 SF

      200 Mitchell Hammock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,450 SF
      200 Mitchell Hammock Rd, Oviedo, FL 32765-7645
      View Details

    Similar Nearby for Sale

    • $950,000
      5,000 SF

      Oviedo Restaurant - Prime Location

      Upscale Restaurant, High-Demand Area
      876 City Walk Ln, Oviedo, FL 32765
      View Details
    • $300,000

      Established Latin Restaurant in Oviedo

      Turnkey Latin restaurant with loyal clientele in prime Oviedo location.
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    • $575,000

      Highway 46 Commercial Land Opportunity

      Prime Oviedo, FL Retail Land - $575,000
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    • $2,000,000
      2,795 SF

      Oviedo Retail Center - Prime Location

      Gas Station & Convenience Store - High Traffic Area
      1045 Broadway St, Oviedo, FL 32765
      View Details
    • $2,000,000
      2,795 SF

      Oviedo Convenience Store & Gas

      Established gas station and convenience store in Oviedo, Florida.
      1045 Broadway St, Oviedo, FL 32765
      View Details
    • $325,000

      High-Traffic Retail Strip For Sale

      Prime retail strip with high traffic and great exposure.
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      View Details

    Similar Nearby for Lease

    • $42 SF/Yr
      2,000 SF

      Oviedo Publix Endcap Retail Space

      Prime 2,000 SF Publix-anchored retail space.
      329 County Road 419, Oviedo, FL 32765
      View Details
    • $27,600

      Oviedo on the Park Commercial Space

      High-traffic commercial space in Oviedo on the Park community.
      326 Ctr Lk Ln, Oviedo, FL 32765
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    • $31 SF/Yr
      85,000 SF

      UCF Knights Plaza: Prime Office Space

      Orlando Office Building, Two Suites Available
      50 Gemini Blvd, Orlando, FL 32765
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    • Contact for pricing
      2,500 SF

      Retail Space in Oviedo, FL

      Retail space available for lease in Oviedo, Florida.
      7505 Red Bug Lake Rd, Oviedo, FL 32765
      View Details
    • Contact for pricing

      Retail Space on Aloma Avenue

      Retail spaces available in Oviedo, Florida with monument signage.
      426 Aloma Ave, Oviedo, FL 32765
      View Details
    • $1,995 /Mo
      613 SF

      Oviedo Office/Retail Mixed-Use Space

      New office/retail space in a vibrant, high-traffic location.
      415 Mike Roberto Way, Oviedo, FL 32765
      View Details
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    1024 Lockwood Blvd
    Oviedo, FL 32765-6027
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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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