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

    255 Primera Blvd Lake Mary, FL 32746

    • Office buildings
    • 197,862 SF
    • 11.98 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3070857
    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

    • Zenith IT Solutions / Computer Service
    • Harmony Tech, LLC / Computer Service / Computer Security Service
    • Orlando Office Center at Lake Mary / Office Space Rental Agency / Conference Center
    • Lake Mary Independent Health & Medicare Advisors / Health Insurance Agency
    • Reliable Managed Services / Computer Support And Services

    Property Details for 255 Primera Blvd

    Year built
    2000
    Construction
    CONCRETE
    Lot size
    11.98 lot acres
    Property size
    197,862 SF
    Property type
    Office buildings
    APN
    07-20-30-516-0A00-0000
    APU
    0720305160A000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $32,388,000
      Market price range: $32.4M - $57.2M
      AI Estimate
      $32,388,000
      Market price range: $32.4M - $57.2M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $42,500,000
      Current use
      COMMERCIAL (GENERAL)
      $52,445,000
      Change: +23% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $43,960,000
      Change: +3% Conversion: Difficult
      RETAIL STORES
      $37,595,000
      Change: -12% Conversion: Moderate
      WAREHOUSE, STORAGE
      $36,145,000
      Change: -15% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $34,400,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Mary
    County
    Seminole
    State
    Florida
    Longitude
    -81.3565
    Latitude
    28.7604
    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
    $393,824
    $0.00
    $0.00
    $28,086,382
    -
    $5,535,799
    $22,550,583
    $28,086,382

    Comparable in this City

    • Value Estimation
      $24,775,000
      151,356 SF

      615 Cres Executive Ct

      OFFICE BUILDING (MULTI-STORY) • 151,356 SF
      615 Cres Executive Ct, Lake Mary, FL 32746-2116
      View Details
    • Value Estimation
      $25,060,000
      153,084 SF

      3200 Lk Emma Rd

      OFFICE BUILDING • 153,084 SF
      3200 Lk Emma Rd, Lake Mary, FL 32746-3358
      View Details
    • Value Estimation
      $4,445,000
      27,168 SF

      735 Primera Blvd

      OFFICE BUILDING (MULTI-STORY) • 27,168 SF
      735 Primera Blvd, Lake Mary, FL 32746-2112
      View Details
    • Value Estimation by Request
      426 SF

      590 Rinehart Rd

      OFFICE BUILDING • 426 SF
      590 Rinehart Rd, Lake Mary, FL 32746-4800
      View Details
    • Value Estimation
      $28,450,000
      159,710 SF

      100 Colonial Ctr Pkwy

      OFFICE BUILDING (MULTI-STORY) • 159,710 SF
      100 Colonial Ctr Pkwy, Lake Mary, FL 32746-4767
      View Details
    • Value Estimation
      $14,525,000
      88,734 SF

      500 International Pkwy

      OFFICE BUILDING (MULTI-STORY) • 88,734 SF
      500 International Pkwy, Lake Mary, FL 32746-5597
      View Details

    Similar Nearby for Sale

    • $5,595,000
      1.47 Acres

      Lake Mary Office Development Opportunity

      Office building with approved outparcel near Downtown Lake Mary and SunRail.
      131 S Country Club Rd, Lake Mary, FL 32746
      View Details
    • $1,995,000

      Stand-Alone Office Building For Sale

      5,000 SF office building in desirable Central Parc.
      960 International Pkwy, Lake Mary, FL 32746
      View Details
    • $1,995,000

      Stand-Alone Office Building For Sale

      5,000 SF office building in Lake Mary's Central Parc.
      960 International Pkwy, Lake Mary, FL 32746
      View Details
    • Contact for pricing
      175,231 SF

      Lake Mary Office Building Opportunity

      175,231 sq ft office building in Lake Mary, FL.
      225 International Pkwy, Lake Mary, FL 32746
      View Details
    • $2,300,000
      5,396 SF

      Lake Mary Office Building Investment

      Prime Lake Mary office, income-producing, 5,396 SF
      960 International Pkwy, Lake Mary, FL 32746
      View Details
    • $155,000
      723 SF

      Lake Mary Office Space Available

      Well-maintained office space near downtown Lake Mary, suitable for professionals.
      2500 W Lake Mary Blvd, Lake Mary, FL 32746
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,030 SF

      Lake Mary Office Space Available

      Office space for rent in Lake Mary, Florida.
      615 Crescent Executive Ct, Lake Mary, FL 32746
      View Details
    • Contact for pricing
      84,570 SF

      Class A Office Building

      Five-story office building with 84,570 square feet available for rent.
      801 International Pkwy, Lake Mary, FL 32746
      View Details
    • $19 SF/Yr
      31,840 SF

      Class A Office Park

      Class A office park in Lake Mary, move-in ready suites.
      725 Primera Blvd, Lake Mary, FL 32746
      View Details
    • Contact for pricing
      25,000 SF

      Class A Office Building

      Three-story office building in Lake Mary/Heathrow with golf course view.
      1000 Aaa Dr, Lake Mary, FL 32746
      View Details
    • Contact for pricing
      18,068 SF

      Lake Mary Office Space Available

      771,681 SF office space in Lake Mary, Florida.
      300 Primera Blvd, Lake Mary, FL 32746
      View Details
    • $18 SF/Yr
      31,840 SF

      Class A Office Park

      Attractive office suites in a convenient Lake Mary location.
      735 Primera Blvd, Lake Mary, FL 32746
      View Details
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    Lake Mary, FL 32746
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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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