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    1218 W Broad St Groveland, FL 34736

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    1218 W Broad St Groveland, FL 34736

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    • Office buildings
    • 2,872 SF
    • 1.29 lot acres
    For Sale
    $690,000
    View Listing →
    Historic Two-Story Commercial Building For Sale
    $690,000
    2,872 SF

    Historic Two-Story Commercial Building

    Unique property with historic charm, suitable for office or retail.

    1218 W BROAD STREET, Groveland, FL 34736
    View Listing
    Property ID
    US18-7826508
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lorenzo Hagins Funeral Home / Social Service Agency

    Property Details for 1218 W Broad St

    Year built
    1902
    Construction
    WOOD FRAME
    Lot size
    1.29 lot acres
    Property size
    2,872 SF
    Property type
    Office buildings
    APN
    24-22-24-0500-000-00701
    APU
    242224050000000701

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Groveland
    County
    Lake
    State
    Florida
    Longitude
    -81.8708
    Latitude
    28.5651
    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
    $3,934
    $0.00
    $0.00
    $209,939
    -
    $111,355
    $98,584
    $209,939

    Comparable in this City

    • Value Estimation
      $4,720,000
      13,605 SF

      8340 American Way

      OFFICE BUILDING • 13,605 SF
      8340 American Way, Groveland, FL 34736-8587
      View Details
    • Value Estimation by Request
      1,210 SF

      122 Howey Rd

      OFFICE BUILDING • 1,210 SF
      122 Howey Rd, Groveland, FL 34736-2220
      View Details
    • Value Estimation by Request
      1,510 SF

      224 Main Ave

      OFFICE BUILDING • 1,510 SF
      224 Main Ave, Groveland, FL 34736-2556
      View Details
    • Value Estimation by Request
      2,739 SF

      244 Orange St

      PROFESSIONAL BUILDING • 2,739 SF
      244 Orange St, Groveland, FL 34736-2567
      View Details
    • Value Estimation
      $985,000
      7,479 SF

      193 Cherry Vly Trl

      OFFICE BUILDING • 7,479 SF
      193 Cherry Vly Trl, Groveland, FL 34736-3645
      View Details
    • Value Estimation
      $1,455,000
      4,200 SF

      14633 County Rd 565a

      PROFESSIONAL BUILDING • 4,200 SF
      14633 County Rd 565a, Groveland, FL 34736-9748
      View Details

    Similar Nearby for Sale

    • $690,000
      2,872 SF

      Historic Groveland Office/Retail Opportunity

      Two-story historic building suitable for office or retail use.
      1218 W Broad St, Groveland, FL 34736
      View Details
    • $690,000
      2,872 SF

      Historic Two-Story Commercial Building

      Unique property with historic charm, suitable for office or retail.
      1218 W Broad St, Groveland, FL 34736
      View Details
    • $375,000
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      Vacant Land in Groveland, FL

      11+ acre vacant land ready for new home.
      Empire Church Rd, Groveland, FL 34736
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    • $899,900
      14.78 Acres

      Spacious Land in Groveland, Florida

      14.78-acre homesite near highways, shopping, and dining.
      Lake Erie Rd, Groveland, FL 34736
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    • $250,000
      0.47 Acres

      Commercial Lot Ready to Build

      Cleared, level commercial lot in Groveland, ready for development.
      15511 State Road 19, Groveland, FL 34736
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    Similar Nearby for Lease

    • $105,600

      Groveland Warehouse with Office Space

      8,800 sq ft warehouse with offices and ample parking.
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    • $22,750

      Groveland Warehouse with Office Space

      1,750 SF warehouse with office, available 05/01/26.
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      View Details
    • Contact for pricing

      Groveland Industrial Park Flex Space

      Small-bay industrial park with easy access to major highways.
      15430 County Road 565A, Groveland, FL 34736
      View Details
    • Contact for pricing

      Groveland Flex Space Available

      Flex space available immediately in Groveland, Florida.
      7920 American Way, Groveland, FL 34736
      View Details
    • Contact for pricing
      9 SF

      Groveland Industrial Land For Lease

      9-acre industrial land with highway frontage in Groveland, Florida.
      20731 S 27, Groveland, FL 34736
      View Details

    Property Visit Statistics

    • Visits by month
      2.6k
    • Visitors by month
      2.1k
    • Avg Time on site
      13 min
    View Listing
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    Groveland, FL 34736
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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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