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    Property profile & analytics

    1878 Mayo Dr Tavares, FL 32778-4320

    • Office buildings
    • 6,515 SF
    • 1.19 lot acres
    OFF-MARKET
    Value Estimations
    $1,970,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6167501
    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

    • Tavares Surgery Center / Medical Clinic / Hospital
    • Dr. Jeffrey Goodman / Physician

    Property Details for 1878 Mayo Dr

    Year built
    2013
    Construction
    CONCRETE BLOCKS
    Lot size
    1.19 lot acres
    Property size
    6,515 SF
    Property type
    Office buildings
    APN
    21-19-26-1101-000-05501
    APU
    211926110100005501

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,970,000
      Market price range: $934k - $1.97M
      AI Estimate
      $1,970,000
      Market price range: $934k - $1.97M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,390,000
      Current use
      RESTAURANT
      $2,905,000
      Change: +109% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,265,000
      Change: +63% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,915,000
      Change: +38% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,525,000
      Change: +10% Conversion: Difficult
      RETAIL STORES
      $1,390,000
      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
    -81.7096
    Latitude
    28.8205
    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
    $39,983
    $0.00
    $0.00
    $2,082,739
    -
    $448,463
    $1,634,276
    $2,082,739

    Comparable in this City

    • Value Estimation by Request
      0.80 Acres

      9 Lk Vw Ctr

      Office buildings • 0.80 Acres
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    • Value Estimation by Request
      600 SF

      1623 Banning Bch Rd

      OFFICE BUILDING • 600 SF
      1623 Banning Bch Rd, Tavares, FL 32778-2054
      View Details
    • Value Estimation
      $1,015,000
      3,363 SF

      12835 County Landfill Rd

      OFFICE BUILDING • 3,363 SF
      12835 County Landfill Rd, Tavares, FL 32778
      View Details
    • Value Estimation
      $2,830,000
      9,352 SF

      1922 Salk Ave

      PROFESSIONAL BUILDING • 9,352 SF
      1922 Salk Ave, Tavares, FL 32778-4310
      View Details
    • Value Estimation
      $1,420,000
      9,896 SF

      902 Sinclair Ave

      OFFICE BUILDING • 9,896 SF
      902 Sinclair Ave, Tavares, FL 32778-2454
      View Details
    • Value Estimation
      $1,340,000
      5,998 SF

      1876 Nightingale Ln

      PROFESSIONAL BUILDING • 5,998 SF
      1876 Nightingale Ln, Tavares, FL 32778-4359
      View Details

    Similar Nearby for Sale

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      8,500 SF

      Downtown Tavares Office Building For Sale

      8,500 sq ft office building in downtown Tavares.
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    • Contact for pricing
      3,721 SF

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      Office building with high visibility and ample parking.
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      Tavares Office Buildings For Sale

      Two office buildings with development potential in Tavares, Florida.
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      Prime Tavares Office Building

      High-traffic Hwy 441 location, 4,087 sq ft.
      Tavares, FL 32778
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    Similar Nearby for Lease

    • $900 /Mo
      2,610 SF

      Functional Commercial Unit in Tavares

      Compact commercial unit with reception, offices, and restroom.
      203 W Alfred St, Tavares, FL 32778
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    • $10,800 /Mo

      Functional Office Unit in Tavares

      Compact commercial unit with reception, offices, and restroom.
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    • 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
    • Contact for pricing

      Retail Space Available For Rent

      Retail spaces available, ranging from 1,500 to 32,670 SqFt.
      4117 County Road 561, Tavares, FL 32778
      View Details
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    1878 Mayo Dr
    Tavares, FL 32778-4320
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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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