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

    502 W Washington St Orlando, FL 32801

    • Commercial land
    • 0.27 lot acres
    For Sale
    View listing
    $1,650,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4443732
    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

    • Commercial land

    Property Details for 502 W Washington St

    Lot size
    0.27 lot acres
    Zone code
    PD/T/PH
    Property type
    Commercial land
    APN
    26-22-29-3804-01-140
    APU
    262229380401140

    Description

    This exceptional 0.47-acre mixed-use development site, located in the heart of Orlando, Florida, presents a unique investment opportunity. The property, encompassing two parcels (APN 26-22-29-3804-01-140, 26-22-29-5588-04-012, and 26-22-29-5588-04-011), is situated at 502 & 448 W. Washington Street, in Orange County, zip code 32801. Its strategic location offers unparalleled access to key city amenities. Directly across from the Orlando Federal Courthouse, the site enjoys proximity to popular venues such as the Amway Center and Orlando City Soccer Stadium, and is also minutes away from Creative Village. The permitted zoning (PD/T/PH) allows for a diverse range of development options, including residential, office, and commercial uses, providing flexibility for a variety of project visions. The asking price for this prime development land is $1,650,000. This presents a rare chance to acquire a highly desirable parcel in a rapidly growing urban core, poised for significant future appreciation. The property's central location and versatile zoning make it an ideal investment for developers seeking to capitalize on Orlando's thriving real estate market. Don't miss this opportunity to secure a piece of Orlando's vibrant future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Orange
    State
    Florida
    Longitude
    -81.3851
    Latitude
    28.5437
    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
    $3,864
    $199,461
    $0.00
    $199,461
    -
    $199,461
    $0.00
    $199,461

    Comparable in this City

    • Value Estimation by Request
      1.06 Acres

      103 Marks St

      VACANT COMMERCIAL LAND • 1.06 Acres
      103 Marks St, Orlando, FL 32801
      View Details
    • Value Estimation by Request
      0.45 Acres

      189 Orange Ave

      VACANT COMMERCIAL LAND • 0.45 Acres
      189 Orange Ave, Orlando, FL 32801-3254
      View Details
    • Value Estimation by Request
      0.07 Acres

      107 Hl Ave

      VACANT COMMERCIAL LAND • 0.07 Acres
      107 Hl Ave, Orlando, FL 32801-2029
      View Details
    • Value Estimation by Request
      0.16 Acres

      155 Ct Ave

      VACANT COMMERCIAL LAND • 0.16 Acres
      155 Ct Ave, Orlando, FL 32801-3205
      View Details
    • Value Estimation
      $705,000
      0.24 Acres

      417 Robinson St

      VACANT COMMERCIAL LAND • 4,032 SF
      417 Robinson St, Orlando, FL 32801-1719
      View Details
    • Value Estimation by Request
      0.12 Acres

      510 Pne St

      VACANT COMMERCIAL LAND • 0.12 Acres
      510 Pne St, Orlando, FL 32801-2851
      View Details

    Similar Nearby for Sale

    • $1,650,000

      Downtown Orlando Land Opportunity

      Prime land for residential, office, or commercial development.
      502 W Washington St, Orlando, FL 32801
      View Details
    • $9,950,000

      Downtown Orlando Development Opportunity

      0.581 acres approved for mixed-use tower near Lake Eola.
      320 Palmetto Ave, Orlando, FL 32801
      View Details
    • $749,000
      0.30 Acres

      Orlando Land Near Creative Village

      Undeveloped land near Downtown Orlando's largest development project.
      623 W Concord St, Orlando, FL 32801
      View Details
    • $6,990,000
      8,163 SF

      Downtown Orlando Mixed-Use Development

      144-unit apartment project, prime location
      205 Eola Dr, Orlando, FL 32801
      View Details
    • $11,700,000

      Downtown Orlando Land Assemblage

      Prime Orlando land, 44,706 SF, AC-3A/T zoning.
      30 Livingston St, Orlando, FL 32801
      View Details
    • $445,000
      0.16 Acres

      Downtown Orlando Cleared Lot Ready

      Cleared lot in downtown Orlando's Bungalow Park neighborhood.
      1105 Elmwood St, Orlando, FL 32801
      View Details

    Similar Nearby for Lease

    • $30,000

      Industrial Outdoor Storage and Building

      Up to 1.95 acres with a 10,068 SF building.
      W Washington St, Orlando, FL 32801
      View Details
    • $30 SF/Yr
      5,315 SF

      350 Pine St

      Office space • 5,315 SF
      350 Pine St, Orlando, FL 32801
      View Details
    • $30 SF/Yr
      110,106 SF

      Liberty Corner Office Suites

      Orlando Office Space: Prime Location
      100 Colonial Dr, Orlando, FL 32801
      View Details
    • $26 SF/Yr
      85,823 SF

      Downtown Orlando Restaurant Space

      Prime Cafe Space, Lynx Central Station
      455 Garland Ave, Orlando, FL 32801
      View Details
    • $27 SF/Yr
      50,000 SF

      Downtown Orlando Office Suites

      Prime location, executive & general office space.
      105 Robinson St, Orlando, FL 32801
      View Details
    • Contact for pricing
      34,938 SF

      Orlando Office Space For Lease

      Office space available for lease in Orlando, Florida.
      2130 S Orange Ave, Orlando, FL 32801
      View Details
    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.
    502 W Washington St
    Orlando, FL 32801
    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.