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    Property profile & analytics

    208 E 28Th St Sanford, FL 32773

    • Commercial real estate
    • 1.30 lot acres
    For Sale
    View listing
    $524,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2195177
    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

    • Commercial real estate

    Property Details for 208 E 28Th St

    Year built
    1964
    Lot size
    1.30 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.3-acre commercial property presents a remarkable investment opportunity in the thriving Sanford, Florida market. Located at 208 E 28TH, Sanford, FL, this expansive lot boasts multiple street access points, offering unparalleled flexibility for development. The property is comprised of two parcels, providing additional development options. Currently zoned for multifamily use, this land is ideally suited for a variety of projects, from apartment complexes to townhouses, catering to the growing demand for housing in the area. The strategic location, just off Sanford Ave, ensures high visibility and convenient access to major transportation routes. The asking price of $849,000 reflects the significant land value and the immense potential for future appreciation. This is a rare chance to acquire a substantial piece of land in a prime location, ready for immediate development. The property's size and zoning regulations offer a unique opportunity for investors seeking high returns. The multiple street access points provide convenient access for construction and future tenants. Don't miss this chance to capitalize on the burgeoning Sanford real estate market. Serious inquiries only. All information deemed reliable but not guaranteed.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sanford
    County
    Seminole
    State
    Florida
    Longitude
    -81.26601
    Latitude
    28.77785

    Comparable in this City

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      Prime Sanford Lakefront Land

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      Sanford, FL Mixed-Use Investment

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    • $950,000

      Sanford Commercial Land - 2+ Acres

      Prime Commercial Lot, High Visibility, Zoned PD
      46 A Rd, Sanford, FL 32771
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    Similar Nearby for Sale

    • $750,000
      1.00 Acre

      Sanford Commercial Land Investment

      High-dry 1-acre lot, prime location.
      1199 Upsala Rd, Sanford, FL 32771
      View Details
    • Contact for pricing
      4.48 Acres

      Sanford Commercial Land - 4.48 Acres

      Prime Sanford location, high-traffic commercial land.
      0 White Cedar Rd, Sanford, FL 32771
      View Details
    • $3,500,000
      24.00 Acres

      Prime Sanford Lakefront Land

      24 Acres, Bass Lake, Near Orlando
      4950 46A Rd, Sanford, FL 32771
      View Details
    • $2,900,000
      1,000 SF

      Sanford, FL Mixed-Use Investment

      19-Acre Lakefront Property, Huge Potential
      4950 46A Rd, Sanford, FL 32771
      View Details
    • $950,000

      Sanford Commercial Land - 2+ Acres

      Prime Commercial Lot, High Visibility, Zoned PD
      46 A Rd, Sanford, FL 32771
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    • $750,000
      1.46 Acres

      Sanford Commercial Land - $750K

      Prime Sanford location, high traffic, 1.46 acres.
      728 Monroe Rd, Sanford, FL 32771
      View Details

    Similar Nearby for Lease

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      Sanford Office Space: Legacy Park

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    • $26,340

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      Warehouse space with office, storage, and convenient highway access.
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    • $1.90 SF/Yr
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      Prime Commercial Land on SR 46

      4.29 acre commercial land parcel with frontage on SR 46.
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    • Contact for pricing
      2,550 SF

      Retail Space in Sanford, Florida

      Retail spaces available in large open-air shopping center.
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    • $13 SF/Yr
      21,250 SF

      Sanford Flex/Industrial Space Available

      21,250 SF flex/industrial space for lease in Sanford, FL.
      347 Monroe Rd, Sanford, FL 32771
      View Details
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    208 E 28Th St
    Sanford, FL 32773
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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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