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

    3003 Pennington Dr Orlando, FL 32804-3333

    • Warehouses
    • 44,591 SF
    • 1.93 lot acres
    OFF-MARKET
    Last Sale
    Apr 24, 2024
    $4,720,900
    Value Estimations
    $4,720,000
    Show details
    Cap Rate Potential
    6.4%
    Warehouses
    Location Intelligence
    Property ID
    US18-3589625
    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

    • Warehouses

    Property Details for 3003 Pennington Dr

    Year built
    1968
    Lot size
    1.93 lot acres
    Property size
    44,591 SF
    Zone code
    I-G/W
    Property type
    Warehouses
    APN
    09-22-29-3460-00-241
    APU
    92229346000241

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,720,000
      ML approach
      $4,720,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,040,000
      6.5%
      $4,655,000
      7%
      $4,320,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,320,000
      Market price range: $4.48M - $11.8M

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

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Orange
    State
    Florida
    Longitude
    -81.4128
    Latitude
    28.5822
    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
    $61,512
    $505,164
    $2,757,635
    $3,262,799
    -
    $505,164
    $2,757,635
    $3,262,799

    Comparable in this City

    • Value Estimation
      $1,070,000
      12,909 SF

      2401 Dinneen Ave

      WAREHOUSE, STORAGE • 12,909 SF
      2401 Dinneen Ave, Orlando, FL 32804-4203
      View Details
    • Value Estimation by Request
      3,724 SF

      1904 Ellman St

      WAREHOUSE, STORAGE • 3,724 SF
      1904 Ellman St, Orlando, FL 32804-4202
      View Details
    • Value Estimation
      $1,075,000
      13,200 SF

      3804 John Young Pkwy

      WAREHOUSE, STORAGE • 13,200 SF
      3804 John Young Pkwy, Orlando, FL 32804-3201
      View Details
    • Value Estimation
      $2,835,000
      41,458 SF

      2721 Regent Ave

      WAREHOUSE, STORAGE • 41,458 SF
      2721 Regent Ave, Orlando, FL 32804-3337
      View Details
    • Value Estimation
      $1,510,000
      14,366 SF

      2715 Orange Blossom Trl

      WAREHOUSE, STORAGE • 14,366 SF
      2715 Orange Blossom Trl, Orlando, FL 32804-4304
      View Details
    • Value Estimation
      $1,420,000
      15,930 SF

      3400 Orange Blossom Trl

      WAREHOUSE, STORAGE • 15,930 SF
      3400 Orange Blossom Trl, Orlando, FL 32804-3411
      View Details

    Similar Nearby for Sale

    • $6,750,000
      10,750 SF

      Prime Orlando Industrial Warehouse

      10,750 SF Warehouse - $6.75M
      3777 John Young Pkwy, Orlando, FL 32804
      View Details
    • $1,098,999
      0.53 Acres

      Prime Orlando Commercial Land

      .53-Acre Double Frontage Development Site
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    • $2,600,000

      College Park Land Assembly Opportunity

      2.28 acres in College Park/Fairview Shores, Orlando.
      1725 Fairview Shores Dr, Orlando, FL 32804
      View Details
    • $225,000
      Pending

      Vacant Land in College Park

      Vacant land in Orlando's desirable College Park neighborhood.
      730 Edgewater Dr, Orlando, FL 32804
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    • $9,000,000
      62,369 SF

      Orlando Motel with Restaurant

      107-room motel with restaurant, conference room, and pool in Orlando.
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    • $2,995,000
      16.00 Acres

      Lake Fairview Development Land

      16 Acres, Prime Orlando Location
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    Similar Nearby for Lease

    • Contact for pricing
      108,224 SF

      Orlando Warehouse Space Available

      108,224 SF Warehouse - Flexible Suites
      2700 Hazelhurst Ave, Orlando, FL 32804
      View Details
    • Contact for pricing
      152,697 SF

      Orlando Warehouse with Truck Court

      Centrally located warehouse space with secure truck court.
      1900 West New Hampshire St, Orlando, FL 32804
      View Details
    • $18,000 /Mo
      1,050 SF

      College Park Warehouse Space

      1,050 SF Warehouse, Prime Location
      2042 Rio Grande Ave, Orlando, FL 32804
      View Details
    • $11 SF/Yr
      96 SF

      Industrial Warehouse Space Available

      96,893 SF industrial warehouse project for lease.
      3071 N Orange Blossom Trl, Orlando, FL 32804
      View Details
    • $18 SF/Yr
      14,366 SF

      Orlando Warehouse and Office Space

      Warehouse and office space in Orlando's College Park and Packing District.
      1400 N Orange Blossom Trl, Orlando, FL 32804
      View Details
    • Contact for pricing
      1,517 SF

      Orlando Flex Space For Rent

      1,517± SF flex space available near I-4 and SR 408.
      2467-2487 W John Young Pkwy N, Orlando, FL 32804
      View Details
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    Orlando, FL 32804-3333
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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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