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Property profile & analytics
OFF-MARKET
Estimated value
$2,350,000
Retail space
1226 Michigan Ave Winter Park, FL 32789-4822
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-6005878
Property summary
AI-generated overview
This exceptional Class A retail property, Michigan Corners, is located at 1226 Michigan Ave in Winter Park, Florida, within Orange County (zip code 32789). The single-story building comprises 6,650 square feet and features five suites, offering flexible space options for various retail or restaurant businesses. Units range from a minimum of 1,000 square feet to a maximum contiguous space of 6,650 square feet, providing adaptability for diverse tenant needs. The property boasts a prime location with direct frontage on Orlando Avenue (17-92), ensuring high visibility and accessibility for customers. Ample parking is available, catering to the convenience of both tenants and patrons. This location benefits from the strong demographics of the Winter Park area, presenting a unique opportunity for businesses seeking to establish a presence in a thriving Central Florida market. The property's classification as Class A signifies its high-quality construction and modern amenities. This is a rare opportunity to lease space in a highly desirable Winter Park location.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1947
Total area
7,744 SF
Lot
0.23 ac (10,202 SF)
Zoning code
C-3
APN
12-22-29-5424-00-010
UPID
US18-6005878
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
Current use
Occupant on record · Public records
-
Credit Repair Orlando FL | 750 Score 📈 Financial Advisor
-
All Purpose Insurance Insurance Agency
-
Outlaw Cheer Academy Inc High School
-
Marnie Sorensen & Associates Interior Design Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.35M
CAP Approach
CAP
$2.34M
Comparable Approach
Comparable
$1.73M
Blend (final)
Blend
$2.35M
Owner & transaction history
Michigan Ave Property LLC · 1 yrs held
Michigan Ave Property LLC
since 2024
Last sale
$2.4M
3 recorded transactions
Zoning & alternative use
C-3 · Winter Park, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.8M
+58.3%
Commercial (general)
$3.4M
+45.1%
Industrial (general)
$3.2M
+35.8%
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 Winter Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Winter Park 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
$2,350,000
ML approach
$2,350,000
CAP Approach
CAP Return
Estimation
6%
$2,535,000
6.5%
$2,340,000
7%
$2,170,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,370,000
Current use
RESTAURANT
$3,750,000
Change: +58% · Conversion: Easy
COMMERCIAL (GENERAL)
$3,440,000
Change: +45% · Conversion: Easy
INDUSTRIAL (GENERAL)
$3,215,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$3,140,000
Change: +32% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,605,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$2.35M
Range $2.12M – $2.59M · ±10% · vs last sale $2.35M (Sep 3 2024)
Last sale anchor
$2.35M
Sep 3 2024
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
$303 / 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
$11,346
Tax year 2023
Assessed value
$700,557
Assessed 2023
Previous assessed
$813,923
-13.9% YoY
Effective rate
1.62%
On assessed value
Assessed land
$663,098
Assessed improvement
$37,459
Land market value
$663,098
Improvement market value
$37,459
Total market value
$700,557
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1947
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
1
Rooms
14
Total area
7,744 SF
Lot
0.23 ac (10,202 SF)
Zoning code
C-3
APN
12-22-29-5424-00-010
UPID
US18-6005878
Jurisdiction
ORANGE
Zoning & alternative use
C-3 · Winter Park, FL
Zoning C-3 · permitted uses
C-3 · Winter Park, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Winter Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.4M
RESTAURANT
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$3.4M
INDUSTRIAL (GENERAL)
Est. value
$3.2M
OFFICE BUILDING
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.6M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1947
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
14
Lot
0.23 ac
Current owner
From public records · entity-resolved
Michigan Ave Property LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2648 CARTER GRV CIR, WINDERMERE, FL 34786-3402
Ownership since
2024
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
Sep 3, 2024
$2,350,000
Michigan Ave Property LLC
Bledsoe Steward Properties LLC
Special Warranty Deed
—
Apr 1, 2016
—
Bledsoe Steward Properties LLC
Bledsoe Thomas W Trust
Quit Claim Deed
—
Oct 11, 2011
—
Harrison B Steward IV
Steward Joan B Trust
Quit Claim 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.
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