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

    499 Central Pkwy Ste, Unit 100 Altamonte Springs, FL 32701-3449

    • Office buildings
    • 22,032 SF
    • 2.07 lot acres
    OFF-MARKET
    Last Sale
    May 22, 2020
    $4,250,000
    Value Estimations
    $4,060,000
    Show details
    Cap Rate Potential
    7.1%
    Office buildings
    Location Intelligence
    Property ID
    US18-2841172
    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

    • Office buildings

    Property Details for 499 Central Pkwy Ste

    Year built
    1981
    Construction
    CONCRETE BLOCKS
    Lot size
    2.07 lot acres
    Property size
    22,032 SF
    Property type
    Office buildings
    APN
    12-21-29-512-0000-0010
    APU
    12212951200000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,945,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,850,000
      6.5%
      $5,400,000
      7%
      $5,015,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,758,000
      Market price range: $2.76M - $4.99M
      AI Estimate
      $2,758,000
      Market price range: $2.76M - $4.99M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,060,000
      Current use
      COMMERCIAL (GENERAL)
      $5,840,000
      Change: +44% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $4,895,000
      Change: +21% Conversion: Difficult
      RETAIL STORES
      $4,185,000
      Change: +3% Conversion: Moderate
      WAREHOUSE, STORAGE
      $4,025,000
      Change: -1% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,830,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Altamonte Springs
    County
    Seminole
    State
    Florida
    Longitude
    -81.3747
    Latitude
    28.6702
    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
    $32,552
    $0.00
    $0.00
    $1,997,380
    -
    $1,332,698
    $664,682
    $1,997,380

    Comparable in this City

    • Value Estimation
      $14,085,000
      112,500 SF

      220 Central Pkwy Ste, Unit 1010

      OFFICE BUILDING (MULTI-STORY) • 112,500 SF
      220 Central Pkwy Ste, Altamonte Springs, FL 32701-3400
      View Details
    • Value Estimation
      $1,475,000
      11,790 SF

      977 Altamonte Dr, Unit A

      OFFICE BUILDING • 11,790 SF
      977 Altamonte Dr, Altamonte Springs, FL 32701-5066
      View Details
    • Value Estimation
      $3,280,000
      14,500 SF

      745 Orienta Ave

      OFFICE BUILDING • 14,500 SF
      745 Orienta Ave, Altamonte Springs, FL 32701-5619
      View Details
    • Value Estimation
      $10,700,000
      85,472 SF

      283 Cranes Roost Blvd Ste, Unit 100

      OFFICE BUILDING (MULTI-STORY) • 85,472 SF
      283 Cranes Roost Blvd Ste, Altamonte Springs, FL 32701-3437
      View Details
    • Value Estimation
      $1,885,000
      15,050 SF

      270 Northlake Blvd Ste, Unit 1000

      OFFICE BUILDING • 15,050 SF
      270 Northlake Blvd Ste, Altamonte Springs, FL 32701-4335
      View Details
    • Value Estimation by Request
      3,690 SF

      712 Ballard St

      OFFICE BUILDING (MULTI-STORY) • 3,690 SF
      712 Ballard St, Altamonte Springs, FL 32701-5402
      View Details

    Similar Nearby for Sale

    • $8,750,000

      Altamonte Springs Medical/Retail/Office Center

      Class A property with Bank of America as anchor tenant.
      460 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • $2,300,000
      11,356 SF

      Altamonte Springs Professional Office Building

      Professional office building near Advent Health, Altamonte Springs, Florida.
      777 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • $15,690,000
      98,204 SF

      Altamonte Springs Single-Tenant Office Building

      Seven-story office building 100% occupied by IntouchCX on NNN lease.
      850 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • $8,750,000
      31,625 SF

      Altamonte Springs Class A Center

      Class A medical/retail/office center in Altamonte Springs, Florida.
      460 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • $419,000
      1,520 SF

      Altamonte Springs Office For Sale

      1,520 SF office building with high street visibility.
      741 Maitland Ave, Altamonte Springs, FL 32701
      View Details
    • $1,750,000
      4,601 SF

      Altamonte Springs Medical Office

      Single-tenant, NNN lease, high NOI.
      707 Ballard St, Altamonte Springs, FL 32701
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      26,118 SF

      Altamonte Springs Office Space Available

      Office suites with flexible layouts, convenient location, and recent improvements.
      Altamonte Springs, FL 32701
      View Details
    • $20 SF/Yr
      13,113 SF

      Altamonte Springs Office Suites

      Lakefront Office Space, Prime Location
      307 Cranes Roost Blvd, Altamonte Springs, FL 32701
      View Details
    • $16 SF/Yr
      2,512 SF

      Renovated Medical Office Suites Available

      Fully renovated medical office suites available for lease.
      106 Boston Ave, Altamonte Springs, FL 32701
      View Details
    • $15 SF/Yr
      8,055 SF

      Altamonte Springs Office/Warehouse Space

      Office/warehouse space available in Altamonte Springs with on-site management.
      762 Northlake Blvd, Altamonte Springs, FL 32701
      View Details
    • Contact for pricing
      126,446 SF

      Palm Springs Center: Medical Office Space

      Altamonte Springs medical office suites available.
      525 Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • $15 SF/Yr
      270,556 SF

      Altamonte Springs Flex Space Available

      Modern Flex/Warehouse Space in Prime Location
      370 Northlake Blvd, Altamonte Springs, FL 32701
      View Details
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    499 Central Pkwy Ste, Unit 100
    Altamonte Springs, FL 32701-3449
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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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