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

    409 Michigan St Orlando, FL 32806-4541

    • Retail space
    • 3,945 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0370439
    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

    • MetroMeds Pharmacy / Pharmacy
    • Amazon Hub Counter - MetroMeds Pharmacy / Shipping And Mailing Service

    Property Details for 409 Michigan St

    Year built
    1952
    Lot size
    0.29 lot acres
    Property size
    3,945 SF
    Zone code
    AC-2/T/SP
    Property type
    Retail space
    APN
    01-23-29-1992-00-530
    APU
    12329199200530

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $297,000
      Market price range: $215k - $604k

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

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Orange
    State
    Florida
    Longitude
    -81.3717
    Latitude
    28.5133
    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
    $10,288
    $254,274
    $246,483
    $500,757
    -
    $254,274
    $246,483
    $500,757

    Comparable in this City

    • Value Estimation
      $605,000
      10,872 SF

      2218 Orange Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,872 SF
      2218 Orange Ave, Orlando, FL 32806-3039
      View Details
    • Value Estimation
      $650,000
      9,656 SF

      3334 Curry Frd Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,656 SF
      3334 Curry Frd Rd, Orlando, FL 32806-3473
      View Details
    • Value Estimation
      $545,000
      13,323 SF

      4319 Curry Frd Rd

      RETAIL STORES (PERSONAL SERVICES) • 13,323 SF
      4319 Curry Frd Rd, Orlando, FL 32806
      View Details
    • Value Estimation
      $470,000
      10,192 SF

      2500 Curry Frd Rd

      RETAIL STORES (PERSONAL SERVICES) • 10,192 SF
      2500 Curry Frd Rd, Orlando, FL 32806-2551
      View Details
    • Value Estimation
      $300,000
      1,272 SF

      2300 Crystal Lk Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,272 SF
      2300 Crystal Lk Dr, Orlando, FL 32806-5110
      View Details
    • Value Estimation
      $330,000
      4,368 SF

      2627 Curry Frd Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,368 SF
      2627 Curry Frd Rd, Orlando, FL 32806-2542
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,824 SF

      Freestanding Retail Building on Large Parcel

      Freestanding retail building on 1.86-acre parcel with drive-thru.
      3212 Curry Ford Rd, Orlando, FL 32806
      View Details
    • $795,000
      3,057 SF

      Renovated Retail Building with Kitchen

      Three-unit retail building with a new commercial kitchen.
      2011 S Orange Ave, Orlando, FL 32806
      View Details
    • $399,900

      Orlando Commercial Property For Sale

      Commercial property with high-traffic road frontage in a desirable Orlando location.
      801 E Michigan St, Orlando, FL 32806
      View Details
    • $875,000
      2,208 SF

      South Orange Ave Retail Opportunity

      High-traffic Orlando retail space, $875,000
      4893 Orange Ave, Orlando, FL 32806
      View Details
    • Contact for pricing
      3,318 SF

      Freestanding Building with Drive-Thru

      3,318 SF building with 4-lane drive-thru on 0.982 acres.
      2701 E Michigan St, Orlando, FL 32806
      View Details
    • $2,600,000
      11,171 SF

      SoDo District Industrial Asset

      Two-building industrial asset in Orlando's SoDo district.
      10 W Illiana St, Orlando, FL 32806
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,380 SF

      Retail Space in SoDo District

      Retail space in Orlando's SoDo district, near downtown and hospitals.
      2823 S Orange Ave, Orlando, FL 32806
      View Details
    • $35 SF/Yr
      1,000 SF

      Retail Space on Michigan Street

      Retail space available for lease in Orlando, Florida.
      211 E Michigan St, Orlando, FL 32806
      View Details
    • $27 SF/Yr
      1,250 SF

      Retail Space in Sodo District

      Retail space in high-traffic Orlando Sodo District, near I-4.
      419 E Michigan St, Orlando, FL 32806
      View Details
    • Contact for pricing
      10,000 SF

      Prime Orlando Retail Space

      1,200 SF Available, High Traffic
      1743 Orange Ave, Orlando, FL 32806
      View Details
    • Contact for pricing
      6,500 SF

      Retail Space in Orlando, FL

      6,500 SF retail space available for rent.
      1477 W Gore St, Orlando, FL 32806
      View Details
    • Contact for pricing
      1,318 SF

      Retail Space in SoDo District

      New mixed-use retail development in Orlando's SoDo District.
      3509 S Orange Ave, Orlando, FL 32806
      View Details

    Property Visit Statistics

    • Visits by month
      12.3k
    • Visitors by month
      4.8k
    • Avg Time on site
      7 min
    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.
    409 Michigan St
    Orlando, FL 32806-4541
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.