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

    490 Lake Mary Blvd Sanford, FL 32773

    • Grocery and convenience stores
    • 968 SF
    • 0.90 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Jan 27, 2022
    $715,000
    Value Estimations
    $670,000
    Cap Rate Potential
    3.2%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US18-5132422
    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

    • Exxon / Gas Station
    • Mobil / Gas Station
    • La Takeria Tacos / Mexican Restaurant
    • On The Go / Gas Station

    Property Details for 490 Lake Mary Blvd

    Year built
    1985
    Construction
    CONCRETE BLOCKS
    Lot size
    0.90 lot acres
    Property size
    968 SF
    Property type
    Grocery and convenience stores
    APN
    11-20-30-504-0A02-0000
    APU
    1120305040A020000

    Description

    This exceptional retail opportunity presents a fully operational Exxon-branded gas station and convenience store situated on a high-traffic corner lot at 490 W Lake Mary Blvd in Sanford, Florida, 32773. The property boasts a 968 square foot building on one acre of land, including 21 parking spaces. The single-tenant building is classified as Class B and underwent renovations in 2022, featuring a new roof, coolers, and pumps. Utilities are serviced by Duke Energy/FPL. The property's zoning is "Existing Use," and its convenient location is further enhanced by its proximity to Hidden Lake Drive. The gas station benefits from a remaining eight-year fuel contract, ensuring a stable income stream. This prime location is within a high-density residential area, poised for further growth with planned multi-family developments in the near future. The property is available for lease at $6,500 per month. The business is also available for purchase for $280,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $585,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $445,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Sanford
    County
    Seminole
    State
    Florida
    Longitude
    -81.2934
    Latitude
    28.7581
    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
    $10,672
    $0.00
    $0.00
    $600,995
    -
    $490,377
    $110,618
    $600,995

    Comparable in this City

    • Value Estimation
      $940,000
      2,940 SF

      2939 Orlando Dr

      CONVENIENCE STORE • 2,940 SF
      2939 Orlando Dr, Sanford, FL 32773-5340
      View Details
    • Value Estimation
      $600,000
      2,460 SF

      4103 Orlando Dr

      CONVENIENCE STORE • 2,460 SF
      4103 Orlando Dr, Sanford, FL 32773-6122
      View Details
    • Value Estimation
      $1,625,000
      7,200 SF

      3100 Sanford Ave

      CONVENIENCE STORE (W/FUEL PUMP) • 7,200 SF
      3100 Sanford Ave, Sanford, FL 32773-5824
      View Details
    • Value Estimation
      $1,255,000
      6,960 SF

      2508 French Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,960 SF
      2508 French Ave, Sanford, FL 32773-5320
      View Details
    • Value Estimation
      $1,275,000
      2,676 SF

      3603 Orlando Dr

      FINANCIAL BUILDING • 2,676 SF
      3603 Orlando Dr, Sanford, FL 32773-5687
      View Details
    • Value Estimation
      $690,000
      6,500 SF

      3215 Orlando Dr

      RETAIL STORES (PERSONAL SERVICES) • 6,500 SF
      3215 Orlando Dr, Sanford, FL 32773-5603
      View Details

    Similar Nearby for Sale

    • $2,400,000

      Gas Station with Convenience Store

      Corner lot gas station with convenience store in residential neighborhood.
      490 W Lake Mary Blvd, Sanford, FL 32773
      View Details
    • $875,000
      4,493 SF

      Sanford Mixed-Use Commercial Complex

      Versatile commercial complex with multiple buildings and income streams.
      2516 Sanford Ave, Sanford, FL 32773
      View Details
    • $3,799,000
      21,240 SF

      Sanford Retail/Warehouse Opportunity on US 17-92

      21,240 SF retail/warehouse building with flexible layout and highway frontage.
      650 Lake Minnie Dr, Sanford, FL 32773
      View Details
    • $1,175,000
      6,282 SF

      Sanford Warehouse with Office/Showroom Space

      6,282 SF building with warehouse and office/showroom space.
      4366 North Ronald Reagan Blvd, Sanford, FL 32773
      View Details
    • $775,000
      610 SF

      Profitable Drive-Thru Restaurant Opportunity

      Established drive-thru restaurant for sale with real estate included.
      2521 S French Ave, Sanford, FL 32773
      View Details
    • $189,900
      1,500 SF

      Sanford Retail Space: Prime Location!

      High-traffic retail space, low condo fees.
      2921 Orlando Dr, Sanford, FL 32773
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      968 SF

      Lake Mary Blvd Gas Station Lease

      High-traffic corner location, excellent income potential.
      490 Lake Mary Blvd, Sanford, FL 32773
      View Details
    • Contact for pricing
      2,850 SF

      Retail and Medical Space Available

      Retail and medical spaces for lease with high traffic.
      2670-2698 S Orlando Dr, Sanford, FL 32773
      View Details
    • New
      $18 SF/Yr
      90,008 SF

      Sanford Mixed-Use Space For Lease

      Multiple units available in centrally located Sanford mixed-use property.
      500 W Lake Mary Blvd, Sanford, FL 32773
      View Details
    • Contact for pricing
      2,600 SF

      Retail Space in Seminole Centre

      Retail space available in a busy Sanford shopping center.
      3655-3707 S Orlando Dr, Sanford, FL 32773
      View Details
    • Contact for pricing

      Retail Space in Seminole Center

      Prime retail space with high visibility and traffic.
      3653 South Orlando Dr, Sanford, FL 32773
      View Details
    • Contact for pricing
      40,000 SF

      Sanford Retail Center Opportunity

      Prime Sanford retail space available.
      2670 Orlando Dr, Sanford, FL 32773
      View Details
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    Sanford, FL 32773
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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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