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    240 E Central Pkwy Altamonte Springs, FL 32701
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    240 E Central Pkwy Altamonte Springs, FL 32701

    View on Map
    • Office buildings
    • 102,436 SF
    • 4.67 lot acres
    For Lease
    $12,825,000
    View Listing →
    Office Building Near Cranes Roost For Lease
    $12,825,000

    Office Building Near Cranes Roost

    Office building with covered parking and generator in Altamonte Springs.

    240 E Central Pkwy, Altamonte Springs, FL 32701
    View Listing
    Property ID
    US18-4527750
    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

    • Office buildings

    Property Details for 240 E Central Pkwy

    Year built
    1998
    Construction
    CONCRETE
    Lot size
    4.67 lot acres
    Property size
    102,436 SF
    Property type
    Office buildings
    APN
    11-21-29-535-0000-0010
    APU
    11212953500000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $12,823,000
      Market price range: $12.8M - $23.2M
      AI Estimate
      $12,823,000
      Market price range: $12.8M - $23.2M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $18,870,000
      Current use
      RETAIL STORES
      $19,465,000
      Change: +3% Conversion: Moderate
      WAREHOUSE, STORAGE
      $18,715,000
      Change: -1% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $17,810,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Altamonte Springs
    County
    Seminole
    State
    Florida
    Longitude
    -81.3844
    Latitude
    28.6708
    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
    $124,049
    $0.00
    $0.00
    $7,611,610
    -
    $3,006,622
    $4,604,988
    $7,611,610

    Comparable in this City

    • Value Estimation
      $4,705,000
      37,592 SF

      701 Altamonte Dr, Unit 1000

      OFFICE BUILDING (MULTI-STORY) • 37,592 SF
      701 Altamonte Dr, Altamonte Springs, FL 32701-4804
      View Details
    • Value Estimation by Request
      1,883 SF

      1355 Altamonte Dr

      OFFICE BUILDING • 1,883 SF
      1355 Altamonte Dr, Altamonte Springs, FL 32701-5011
      View Details
    • Value Estimation
      $4,885,000
      21,586 SF

      894 Altamonte Dr, Unit 1100

      PROFESSIONAL BUILDING • 21,586 SF
      894 Altamonte Dr, Altamonte Springs, FL 32701-5002
      View Details
    • Value Estimation by Request
      2,072 SF

      300 Maitland Ave

      OFFICE BUILDING • 2,072 SF
      300 Maitland Ave, Altamonte Springs, FL 32701-5417
      View Details
    • Value Estimation
      $990,000
      4,601 SF

      707 Ballard St Ste, Unit 1000

      PROFESSIONAL BUILDING • 4,601 SF
      707 Ballard St Ste, Altamonte Springs, FL 32701-5426
      View Details
    • Value Estimation
      $1,015,000
      7,320 SF

      260 Maitland Ave Ste, Unit 1000

      OFFICE BUILDING (MULTI-STORY) • 7,320 SF
      260 Maitland Ave Ste, Altamonte Springs, FL 32701-5510
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,356 SF

      Altamonte Springs Professional Office Building

      Professional office building near Advent Health, Altamonte Springs, Florida.
      777 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • $15,690,000
      98,204 SF

      Altamonte Springs Single-Tenant Office Building

      Seven-story office building 100% occupied by IntouchCX on NNN lease.
      850 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • $8,750,000
      31,625 SF

      Altamonte Springs Medical/Retail/Office Center

      Class A, 31,674 SF medical/retail/office center in Altamonte Springs.
      460 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • Contact for pricing
      98,204 SF

      Altamonte Springs Office Building Investment

      Fully occupied office building with NNN lease and future potential.
      850 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • Contact for pricing
      1,520 SF

      Altamonte Springs Office For Sale

      1,520 SF office building with high street visibility.
      741 Maitland Ave, Altamonte Springs, FL 32701
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Building Near Uptown Altamonte

      Office building with covered parking and generator, near I-4.
      220 E Central Pkwy, Altamonte Springs, FL 32701
      View Details
    • Contact for pricing

      Office Building Near Cranes Roost

      Office building with covered parking and generator in Altamonte Springs.
      240 E Central Pkwy, Altamonte Springs, FL 32701
      View Details
    • $22 SF/Yr

      Altamonte Springs Office Space Available

      Office suites with flexible layouts, convenient location, and recent improvements.
      249 Maitland Ave, Altamonte Springs, FL 32701
      View Details
    • Contact for pricing
      1,300 SF

      Altamonte Springs Office Space Available

      Move-in ready medical/professional office space near Florida Hospital.
      745 Orienta Ave, Altamonte Springs, FL 32701
      View Details
    • Contact for pricing
      6,746 SF

      Altamonte Springs Office Space Available

      Office space for rent with convenient access and ample parking.
      155 Cranes Roost Blvd, Altamonte Springs, FL 32701
      View Details
    • Contact for pricing
      983 SF

      Altamonte Springs Office Space Available

      Office space for rent with convenient access and parking.
      150 Cranes Roost Blvd, Altamonte Springs, FL 32701
      View Details
    View Listing
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    Altamonte Springs, FL 32701
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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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