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    Property profile & analytics

    2609 Colonial Dr Orlando, FL 32804-8010

    • Retail space
    • 3,200 SF
    • 0.57 lot acres
    OFF-MARKET
    Last Sale
    Apr 06, 2022
    Value Estimations
    $700,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4530893
    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

    • Western Union / Bank / Credit Union
    • Amscot / Check Cashing

    Property Details for 2609 Colonial Dr

    Year built
    2006
    Lot size
    0.57 lot acres
    Property size
    3,200 SF
    Zone code
    AC-2/W
    Property type
    Retail space
    APN
    21-22-29-0149-01-000
    APU
    212229014901000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,045,000
      6.5%
      $965,000
      7%
      $900,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $959,000
      Market price range: $456k - $960k
      AI Estimate
      $472,000
      Market price range: $153k - $473k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $715,000
      Current use
      AUTO REPAIR, GARAGE
      $1,065,000
      Change: +49% Conversion: Difficult
      OFFICE BUILDING
      $1,000,000
      Change: +40% Conversion: Easy
      COMMERCIAL (GENERAL)
      $880,000
      Change: +23% Conversion: Easy
      WAREHOUSE, STORAGE
      $605,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Orange
    State
    Florida
    Longitude
    -81.4134
    Latitude
    28.5532
    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
    $19,150
    $381,765
    $631,642
    $1,013,407
    -
    $381,765
    $631,642
    $1,013,407

    Comparable in this City

    • Value Estimation
      $1,705,000
      9,272 SF

      3440 Edgewater Dr

      RETAIL STORES (PERSONAL SERVICES) • 9,272 SF
      3440 Edgewater Dr, Orlando, FL 32804-3602
      View Details
    • Value Estimation
      $1,365,000
      6,985 SF

      3005 Edgewater Dr

      RETAIL STORES (PERSONAL SERVICES) • 6,985 SF
      3005 Edgewater Dr, Orlando, FL 32804-3719
      View Details
    • Value Estimation
      $2,745,000
      20,115 SF

      2110 Colonial Dr

      RETAIL STORES (PERSONAL SERVICES) • 20,115 SF
      2110 Colonial Dr, Orlando, FL 32804-6910
      View Details
    • Value Estimation
      $565,000
      2,583 SF

      1249 Orange Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,583 SF
      1249 Orange Ave, Orlando, FL 32804-6452
      View Details
    • Value Estimation
      $2,595,000
      16,012 SF

      1223 Orange Ave

      RETAIL STORES (PERSONAL SERVICES) • 16,012 SF
      1223 Orange Ave, Orlando, FL 32804-6452
      View Details
    • Value Estimation
      $985,000
      5,390 SF

      1620 Orange Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,390 SF
      1620 Orange Ave, Orlando, FL 32804-6412
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Property in Ivanhoe Village

      Rare 7,000 SF mixed-use property in Orlando's Ivanhoe Village.
      2020 N Orange Ave, Orlando, FL 32804
      View Details
    • $3,495,000

      Fully Occupied Multi-Tenant Building

      Two-story, 9,916 SF building near Ivanhoe Village.
      1235 N Orange Ave, Orlando, FL 32804
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    • $2,399,000
      3,840 SF

      Free Standing Retail Building

      3,840 SF retail building with high visibility.
      818 E Colonial Dr, Orlando, FL 32804
      View Details
    • Contact for pricing
      3,200 SF

      Freestanding Retail Site For Sale

      Freestanding retail building with corner access and pylon signage.
      3550 Edgewater Dr, Orlando, FL 32804
      View Details
    • $2,295,000
      945 SF

      Orlando Gas Station and Store

      Newly renovated gas station and convenience store on major thoroughfare.
      1916 W Colonial Dr, Orlando, FL 32804
      View Details
    • Contact for pricing
      1,562 SF

      Renovated Corner Property in Orlando

      Fully renovated commercial property near Packing District, ideal for store/office/residential.
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    Similar Nearby for Lease

    • Contact for pricing
      1,560 SF

      Retail Space in Colonial Plaza

      Retail space available in historic Orlando shopping center.
      2712 E Colonial Dr, Orlando, FL 32804
      View Details
    • Contact for pricing
      3,069 SF

      Retail Space on Colonial Drive

      3,069 SF retail space with high traffic volume.
      3021 E Colonial Dr, Orlando, FL 32804
      View Details
    • $49,875

      Orlando Commercial Space For Rent

      Commercial space available for rent in Orlando, Florida.
      1201 W Fairbanks Ave, Orlando, FL 32804
      View Details
    • Contact for pricing
      1,596 SF

      Retail Space on Colonial Drive

      High-traffic retail space in Orlando's primary retail corridor.
      3173 E Colonial Dr, Orlando, FL 32804
      View Details
    • Contact for pricing
      1,360 SF

      Retail Space in Colonial Plaza

      Retail space available in a high-traffic Orlando shopping center.
      2728-2788 E Colonial Dr, Orlando, FL 32804
      View Details
    • Contact for pricing
      2,830 SF

      Retail Space on Edgewater Drive

      Retail space with high traffic and ample parking.
      4353 Edgewater Dr, Orlando, FL 32804
      View Details
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    Orlando, FL 32804-8010
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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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