Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2691 Palmetto Ave Sanford, FL 32773-5145

    • Commercial land
    • 918 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2858846
    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 land

    Property Details for 2691 Palmetto Ave

    Year built
    1938
    Construction
    WOOD FRAME
    Lot size
    0.14 lot acres
    Property size
    918 SF
    Property type
    Commercial land
    APN
    01-20-30-506-0000-1090
    APU
    1203050600001090

    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
    -81.2654
    Latitude
    28.7789
    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
    $430
    $0.00
    $0.00
    $32,302
    -
    $32,302
    $0.00
    $32,302

    Comparable in this City

    • Value Estimation by Request
      0.20 Acres

      Rdg Dr

      VACANT COMMERCIAL LAND • 0.20 Acres
      Rdg Dr, Sanford, FL 32773
      View Details
    • Value Estimation by Request
      0.29 Acres

      Rdg Dr

      VACANT COMMERCIAL LAND • 0.29 Acres
      Rdg Dr, Sanford, FL 32773
      View Details
    • Value Estimation by Request
      0.14 Acres

      Sanford Ave

      VACANT COMMERCIAL LAND • 0.14 Acres
      Sanford Ave, Sanford, FL 32773
      View Details
    • Value Estimation by Request
      0.83 Acres

      25th St

      VACANT COMMERCIAL LAND • 0.83 Acres
      25th St, Sanford, FL 32773
      View Details
    • Value Estimation by Request
      0.78 Acres

      Airport Blvd

      VACANT COMMERCIAL LAND • 0.78 Acres
      Airport Blvd, Sanford, FL 32773
      View Details
    • Value Estimation by Request
      13.49 Acres

      2401 Lk Mary Blvd

      VACANT COMMERCIAL LAND • 13.49 Acres
      2401 Lk Mary Blvd, Sanford, FL 32773
      View Details

    Similar Nearby for Sale

    • New
      $499,900
      2.17 Acres

      Sanford Land Parcel for Sale

      2.17 acre land parcel with development options in Sanford, FL.
      208 E 28Th St, Sanford, FL 32773
      View Details
    • Contact for pricing

      Commercial Parcels Near Seminole College

      Two commercial parcels totaling 23,111 SF near Seminole State College.
      Ridge Dr, Sanford, FL 32773
      View Details
    • $1,800,000
      19,600 SF

      Sanford Land for Sale

      High-growth corridor land ideal for office, retail, and service.
      2850 E Lake Mary Blvd, Sanford, FL 32773
      View Details
    • $1,144,500

      Sanford, FL Land For Sale

      3.27 acres in front of Boombah Sports Complex.
      E Lake Mary Blvd, Sanford, FL 32773
      View Details
    • $1,900,000

      Land Near Orlando Airport

      Vacant land near Orlando Sanford International Airport.
      7375 County Road 427, Sanford, FL 32773
      View Details
    • $1,056,000
      5.61 Acres

      Commercial Land Near Sanford Airport

      5.7 acres of commercial land near Sanford Airport.
      2999 Knudsen Dr, Sanford, FL 32773
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      500 SF

      Land Lease Near Growing Airport

      Land available for lease near a rapidly growing US airport.
      1200 Red Cleveland Blvd, Sanford, FL 32773
      View Details
    • Contact for pricing
      1 SF

      Prime Sanford Development Land

      500 Acres Near Orlando Airport
      1200 Red Cleveland Blvd, Sanford, FL 32773
      View Details
    • Contact for pricing
      56,192 SF

      Sanford Ave Commercial Land

      Prime Sanford, FL commercial land, 1.29 acres.
      3200 Sanford Ave, Sanford, FL 32773
      View Details
    • New
      $18 SF/Yr
      90,008 SF

      Sanford Mixed-Use Space For Lease

      Multiple units available in a centrally located, professionally managed building.
      500 W Lake Mary Blvd, Sanford, FL 32773
      View Details
    • $600 /Mo
      113 SF

      Sanford Flex Space: 113 SF Office

      Prime Sanford location, 113 sq ft office, flexible lease.
      1588 Tropic Park Dr, Sanford, FL 32773
      View Details
    • $2,135 /Mo
      75,075 SF

      Sanford Flex Space For Lease

      Flex space with frontage on Airport Blvd in Sanford.
      1105-1295 West Airport Blvd, Sanford, FL 32773
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2691 Palmetto Ave
    Sanford, FL 32773-5145
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.