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Property profile & analytics
FOR LEASE
Banks
251 Altamonte Commerce Blvd, Altamonte Springs, FL 32714
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-7280906
For Lease
$16 SF/Yr
251 Altamonte Commerce Blvd, Altamonte Springs, FL 32714
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1982
Construction
TILT-UP CONCRETE
Total area
57,200 SF
Lot
3.92 ac (170,625 SF)
APN
01-21-29-5CK-680F-0010
UPID
US18-7280906
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$30.07M
Owner & transaction history
Fl Altamonte Commerce LLC · 4 yrs held
Fl Altamonte Commerce LLC
since 2022
Last sale
$30.0M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$37.8M
+36.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Altamonte Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Altamonte Springs submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$30,200,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$27,720,000
Current use
RESTAURANT
$37,840,000
Change: +37% · Conversion: Difficult
AUTO REPAIR, GARAGE
$26,415,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$30.07M
Range $27.06M – $33.07M · ±10% · vs last sale $30.00M (Jan 11 2022)
Last sale anchor
$30.00M
Jan 11 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$526 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$87,964
Tax year 2023
Assessed value
$5,413,182
Assessed 2023
Previous assessed
$4,899,767
+10.5% YoY
Effective rate
1.62%
On assessed value
Land market value
$1,612,595
Improvement market value
$3,800,587
Total market value
$5,413,182
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Banks
Use group
FINANCIAL BUILDING
Status
For Lease
Year built
1982
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Bathrooms
19
Total area
57,200 SF
Lot
3.92 ac (170,625 SF)
APN
01-21-29-5CK-680F-0010
UPID
US18-7280906
Jurisdiction
SEMINOLE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$27.7M
RESTAURANT
Est. value
$37.8M
AUTO REPAIR, GARAGE
Est. value
$26.4M
FINANCIAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1982
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Bathrooms
19
Lot
3.92 ac
Current owner
From public records · entity-resolved
Fl Altamonte Commerce LLC
Entity
Free & Clear · 4 yrs held
Mailing address
116 HUNTINGTON AVE STE #601, BOSTON, MA 02116-5749
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2023
—
Acc Northlake Property LLC
—
Deed
related
$25,800,000 · Us Century Bank
Jan 11, 2022
$16,300,000
Fl Altamonte Commerce LLC
Lrf1 Orlando Logistics 1 LLC
Special Warranty Deed
—
Dec 30, 2020
$20,365,000
Lrf1 Orlando Logistics 1 LLC
Altamonte Commerce Center LLC
Grant Deed
—
May 21, 2019
$14,850,000
Altamonte Commerce Center LLC
Eastgroup Props LP
Trustees Deed
$10,395,000 · Bankunited Fsb
Oct 6, 1999
$4,153,000
Eastgroup Properties LP
Principal Life Insurance Co
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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