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

    1605 Alfred St Tavares, FL 32778-3535

    • Office buildings
    • 9,945 SF
    • 3.02 lot acres
    OFF-MARKET
    Value Estimations
    $2,805,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2783493
    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

    • Out O’ Space Storage & Office Park / Self-Storage Facility

    Property Details for 1605 Alfred St

    Year built
    1994
    Construction
    CONCRETE BLOCKS
    Lot size
    3.02 lot acres
    Property size
    9,945 SF
    Property type
    Office buildings
    APN
    27-19-26-0305-000-01800
    APU
    271926030500001800

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,804,000
      Market price range: $1.43M - $3.01M
      AI Estimate
      $2,804,000
      Market price range: $1.43M - $3.01M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,120,000
      Current use
      RESTAURANT
      $4,435,000
      Change: +109% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $3,460,000
      Change: +63% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $2,920,000
      Change: +38% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,325,000
      Change: +10% Conversion: Difficult
      RETAIL STORES
      $2,120,000
      Change: +0% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Tavares
    County
    Lake
    State
    Florida
    Longitude
    -81.7112
    Latitude
    28.8043
    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
    $34,243
    $0.00
    $0.00
    $2,066,063
    -
    $382,024
    $1,684,039
    $2,066,063

    Comparable in this City

    • Value Estimation
      $2,175,000
      15,168 SF

      315 Alfred St

      OFFICE BUILDING • 15,168 SF
      315 Alfred St, Tavares, FL 32778
      View Details
    • Value Estimation by Request
      600 SF

      1603 Banning Bch Rd

      OFFICE BUILDING • 600 SF
      1603 Banning Bch Rd, Tavares, FL 32778-2024
      View Details
    • Value Estimation
      $1,520,000
      5,676 SF

      1840 Classique Ln

      PROFESSIONAL BUILDING • 5,676 SF
      1840 Classique Ln, Tavares, FL 32778-5748
      View Details
    • Value Estimation
      $2,230,000
      14,820 SF

      1996 Classique Ln, Unit 2066

      OFFICE BUILDING • 14,820 SF
      1996 Classique Ln, Tavares, FL 32778-5775
      View Details
    • Value Estimation
      $1,105,000
      3,959 SF

      2714 Dora Ave

      PROFESSIONAL BUILDING • 3,959 SF
      2714 Dora Ave, Tavares, FL 32778-4970
      View Details
    • Value Estimation
      $1,350,000
      6,014 SF

      2730 Dora Ave

      PROFESSIONAL BUILDING • 6,014 SF
      2730 Dora Ave, Tavares, FL 32778-4970
      View Details

    Similar Nearby for Sale

    • $285,000
      0.80 Acres

      Tavares Office Land: Prime Location

      0.8-acre lot, build-ready, medical park.
      9 Lk Vw Ctr, Tavares, FL 32778
      View Details
    • $465,000
      2,440 SF

      Tavares Mixed-Use Commercial Building

      2440 sq ft mixed-use property in the heart of Tavares.
      604 N Sinclair Ave, Tavares, FL 32778
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    • $450,000

      Downtown Tavares Office Investment Opportunity

      Two-unit office building with high visibility in downtown Tavares.
      407 E Alfred St, Tavares, FL 32778
      View Details
    • $1,400,000
      0.52 Acres

      TAVARES Office Building For Sale

      8500 sq ft office building in downtown Tavares, FL.
      131 W Main St, Tavares, FL 32778
      View Details
    • $990,000
      6,183 SF

      Retail and Office Investment Property

      Retail and office property on 0.90 acres in Lake County.
      100 W Burleigh Blvd, Tavares, FL 32778
      View Details
    • $1,300,000
      5,124 SF

      Tavares Office Buildings For Sale

      Two office buildings totaling over 5,100 SF on 1.25 acres.
      915 E Alfred St, Tavares, FL 32778
      View Details

    Similar Nearby for Lease

    • $54,009

      Historic Office Building For Lease

      3,336+/- SF professional office building in downtown Tavares.
      220 W Main St, Tavares, FL 32778
      View Details
    • $5,682 /Mo
      1,810 SF

      TAVARES Warehouse and Office Space

      5455 SF office and warehouse space in Tavares, Florida.
      15925 Old Us Highway 441, Tavares, FL 32778
      View Details
    • $1,800 /Mo
      1,512 SF

      Tavares Commercial Rental Opportunity

      Move-in-ready commercial rental in the heart of Tavares, Florida.
      500 W Caroline St, Tavares, FL 32778
      View Details
    • Contact for pricing
      45,302 SF

      Prime Tavares Commercial Land

      High-traffic corner lot, build-to-suit option.
      1293 Duncan Dr, Tavares, FL 32778
      View Details
    • $21,000

      Retail Space Available For Rent

      Retail space for rent at $11 in Tavares, FL.
      390 W Burleigh Blvd, Tavares, FL 32778
      View Details
    • Contact for pricing
      20,377 SF

      Retail Space on Hwy-441

      Retail space on a primary commercial corridor with high visibility.
      365 E Burleigh Blvd, Tavares, FL 32778
      View Details
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    Tavares, FL 32778-3535
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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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