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Property profile & analytics
FOR LEASE
Community centers
1140 E Altamonte Dr Altamonte Springs, FL 32701
Entity Owned
11-yr Hold
Free & Clear
Property ID
US18-5369643
For Lease
1 / 2
$10,875,000
1140 E Altamonte Dr, Altamonte Springs, FL 32701
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1990
Construction
CONCRETE BLOCKS
Total area
72,773 SF
Lot
14.21 ac (618,988 SF)
APN
18-21-30-522-0000-0020
UPID
US18-5369643
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.87M
Blend (final)
Blend
$10.88M
Owner & transaction history
Festival Properties INC · 11 yrs held
Festival Properties INC
since 2014
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Altamonte Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Altamonte Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$16,170,000
Current use
RETAIL STORES
$13,825,000
Change: -14% · Conversion: Easy
OFFICE BUILDING
$13,405,000
Change: -17% · Conversion: Moderate
WAREHOUSE, STORAGE
$13,295,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$10.88M
Range $9.79M – $11.96M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$149 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$66,439
Tax year 2023
Assessed value
$4,561,876
Assessed 2023
Previous assessed
$3,488,839
+30.8% YoY
Effective rate
1.46%
On assessed value
Land market value
$2,707,610
Improvement market value
$1,854,266
Total market value
$4,561,876
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1990
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Bathrooms
21
Total area
72,773 SF
Lot
14.21 ac (618,988 SF)
APN
18-21-30-522-0000-0020
UPID
US18-5369643
Jurisdiction
SEMINOLE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$16.2M
RETAIL STORES
Est. value
$13.8M
OFFICE BUILDING
Est. value
$13.4M
WAREHOUSE, STORAGE
Est. value
$13.3M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1990
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Bathrooms
21
Lot
14.21 ac
Current owner
From public records · entity-resolved
Festival Properties INC
Entity
Free & Clear · 11 yrs held
Mailing address
1215 GESSNER RD, HOUSTON, TX 77055-6013
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2014
—
Festival Properties INC
One Genesis Partners
Quit Claim Deed
related
—
Nov 4, 2014
$3,228,750
One Genesis Partners
Us Bank NA 2003-top 10
Grant Deed
—
Jan 24, 2013
—
Us Bank NA Series 2003-top 10
Altamonte Springs Real Coc
Trustees Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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