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

    38 Skyline Dr Ste, Unit 1000 Lake Mary, FL 32746-7112

    • Warehouses
    • 120,910 SF
    • 3.91 lot acres
    OFF-MARKET
    Last Sale
    Dec 21, 2024
    Value Estimations
    $17,935,000
    Show details
    Cap Rate Potential
    4.8%
    Warehouses
    Location Intelligence
    Property ID
    US18-7415821
    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 38 Skyline Dr Ste

    Year built
    2001
    Construction
    TILT-UP CONCRETE
    Lot size
    3.91 lot acres
    Property size
    120,910 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    24-20-29-507-0000-0020
    APU
    24202950700000020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $23,730,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $18,890,000
      6.5%
      $17,440,000
      7%
      $16,190,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $18,479,000
      Market price range: $12.4M - $38.2M
      AI Estimate
      $17,884,000
      Market price range: $12.2M - $36.1M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $22,090,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $26,865,000
      Change: +22% Conversion: Moderate
      OFFICE BUILDING
      $25,970,000
      Change: +18% Conversion: Difficult
      RETAIL STORES
      $22,975,000
      Change: +4% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $21,025,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Mary
    County
    Seminole
    State
    Florida
    Longitude
    -81.3669
    Latitude
    28.7351
    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
    $149,191
    $0.00
    $0.00
    $10,639,835
    -
    $3,002,638
    $7,637,197
    $10,639,835

    Comparable in this City

    • Value Estimation
      $1,565,000
      5,086 SF

      4420 Lk Mary Blvd

      MINI-WAREHOUSE, STORAGE • 5,086 SF
      4420 Lk Mary Blvd, Lake Mary, FL 32746-3351
      View Details
    • Value Estimation
      $14,115,000
      102,613 SF

      4155 Lk Mary Blvd

      MINI-WAREHOUSE, STORAGE • 102,613 SF
      4155 Lk Mary Blvd, Lake Mary, FL 32746-2410
      View Details
    • Value Estimation
      $660,000
      2,148 SF

      740 Savory Pl

      MINI-WAREHOUSE, STORAGE • 2,148 SF
      740 Savory Pl, Lake Mary, FL 32746-5378
      View Details
    • Value Estimation
      $9,050,000
      29,450 SF

      35 Skyline Dr

      MINI-WAREHOUSE, STORAGE • 29,450 SF
      35 Skyline Dr, Lake Mary, FL 32746-6202
      View Details
    • Value Estimation by Request
      438 SF

      1200 Bridgewater Dr

      MINI-WAREHOUSE, STORAGE • 438 SF
      1200 Bridgewater Dr, Lake Mary, FL 32746-4342
      View Details
    • Value Estimation
      $21,050,000
      190,718 SF

      2950 Lk Emma Rd Ste, Unit 1000

      MINI-WAREHOUSE, STORAGE • 190,718 SF
      2950 Lk Emma Rd Ste, Lake Mary, FL 32746-3702
      View Details

    Similar Nearby for Sale

    • $859,000
      3,600 SF

      Lake Mary Office Building - $859K

      Prime Lake Mary Office, 3600 SF, Triple-Net.
      105 Timberlachen Cir, Lake Mary, FL 32746
      View Details
    • New
      $420,000
      1,293 SF

      Lake Mary Office For Sale

      Office space in Lake Mary, Florida, with ample parking.
      1355 S 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
    • $675,000

      Lake Mary Vacant Acre Lot

      One-acre vacant lot in gated Lake Mary community.
      1657 Enclave Cv, Lake Mary, FL 32746
      View Details
    • $6,086,000
      9,809 SF

      New Retail Buildings For Sale

      New construction retail buildings with long-term leases near Orlando Health.
      438 Rinehart Rd, Lake Mary, FL 32746
      View Details
    • $2,400,000

      Land For Sale Lake Mary

      Land available for sale in Lake Mary, Florida.
      2695 W Lake Mary Blvd, Lake Mary, FL 32746
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      81,200 SF

      Innovation Center: Flex Space For Lease

      81,200 SF Flex Space; Excellent Location
      2452 Lake Emma Rd, Lake Mary, FL 32746
      View Details
    • Contact for pricing
      6,606 SF

      Lake Mary Flex/Industrial Space

      Flex/industrial space available for lease in Lake Mary, Florida.
      55 Skyline Dr, Lake Mary, FL 32746
      View Details
    • $14 SF/Yr
      25,138 SF

      Lake Mary Executive Office Space

      Prestigious Class A Office & Flex Space
      525 Technology Park, Lake Mary, FL 32746
      View Details
    • Contact for pricing
      2,321 SF

      Lake Mary Flex/Industrial Space

      Flex/industrial space available for lease in Lake Mary, Florida.
      45 Skyline Dr, Lake Mary, FL 32746
      View Details
    • $30 SF/Yr
      28,000 SF

      Lake Mary Medical Office Complex

      Class A, 28,000 SF Available
      462 Rinehart Rd, Lake Mary, FL 32746
      View Details
    • Contact for pricing
      3,009 SF

      Lake Mary Retail Space

      Retail space available for lease in Lake Mary, Florida.
      901 Currency Cir, Lake Mary, FL 32746
      View Details
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    Lake Mary, FL 32746-7112
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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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