Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    506 Virginia Dr Orlando, FL 32803-1856
    Back to Search
    Property profile & analytics

    506 Virginia Dr, Orlando, FL 32803-1856

    View on Map
    • Warehouses
    • 15,492 SF
    • 0.61 lot acres
    Off-Market
    Property ID
    US18-1341441
    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.
    Value Estimations
    $1,610,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 506 Virginia Dr

    Year built
    1973
    Lot size
    0.61 lot acres
    Zone code
    PD/T/SP
    Property type
    Warehouses
    APN
    24-22-29-4472-03-200
    APU
    242229447203200

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 26, 2019 $100 City Of Orlando Ivanhoe Place LLC Grant Deed · related —
    Nov 13, 2014 $13,500,000 Ivanhoe Place LLC R-kid Properties Ltd Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,750,000
      6.5%
      $1,615,000
      7%
      $1,500,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,238,000
      Market price range: $717k - $2.05M

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

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Orange
    State
    Florida
    Longitude
    -81.3716
    Latitude
    28.5636
    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
    $25,239
    $747,481
    $634,038
    $1,381,519
    -
    $747,481
    $634,038
    $1,381,519

    Comparable in this City

    • Value Estimation by Request
      2,717 SF

      601 Brookhaven Dr

      WAREHOUSE, STORAGE
      601 Brookhaven Dr, Orlando, FL 32803-2503
      View Details
    • Value Estimation by Request
      2,720 SF

      1216 Mls Ave

      WAREHOUSE, STORAGE
      1216 Mls Ave, Orlando, FL 32803-2541
      View Details
    • Value Estimation
      $1,080,000
      11,662 SF

      437 Rickenbacker Dr

      WAREHOUSE, STORAGE
      437 Rickenbacker Dr, Orlando, FL 32803
      View Details
    • Value Estimation
      $915,000
      9,918 SF

      1010 Virginia Dr

      WAREHOUSE, STORAGE
      1010 Virginia Dr, Orlando, FL 32803-2532
      View Details
    • Value Estimation by Request
      1,627 SF

      1184 Alden Rd

      WAREHOUSE, STORAGE
      1184 Alden Rd, Orlando, FL 32803-2501
      View Details
    • Value Estimation by Request
      1,800 SF

      633 Maguire Blvd

      MINI-WAREHOUSE, STORAGE
      633 Maguire Blvd, Orlando, FL 32803
      View Details

    Similar Nearby for Sale

    • $900,000
      Pending

      Orlando Industrial Complex For Sale

      Two-building industrial complex in Orlando with flexible zoning.
      4120 Roush Ave, Orlando, FL 32803
      View Details
    • $900,000

      Two-Building Industrial Complex For Sale

      8,276 SF industrial complex with fenced lot in Orlando.
      4120 Roush Ave, Orlando, FL 32803
      View Details
    • Contact for pricing

      Orlando Industrial Site For Sale

      Three-parcel industrial site near downtown Orlando, totaling 0.85 acres.
      1022 Wilfred Dr, Orlando, FL 32803
      View Details
    • Contact for pricing
      936 SF

      Winter Park Commercial Corner Lot

      Commercial property in Winter Park with income-generating potential.
      4205 Daubert St, Orlando, FL 32803
      View Details
    • $4,750,000

      Orlando Industrial Site For Sale

      Three-parcel industrial site near downtown Orlando available for purchase.
      1022 Wilfred Dr, Orlando, FL 32803
      View Details
    • $4,750,000
      8,046 SF

      Orlando Industrial Site For Sale

      Three-parcel industrial site near downtown Orlando, totaling 8,043 SF.
      1022 Wilfred Dr, Orlando, FL 32803
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Freestanding Building with Outdoor Storage

      20,143 SF industrial space with office and truck court.
      4208 Daubert St, Orlando, FL 32803
      View Details
    • $30 SF/Yr

      Medical Office Building in Orlando

      4,778 SF medical office building in Winter Park area.
      1215 Nebraska St, Orlando, FL 32803
      View Details
    • Contact for pricing

      Herndon Avenue Commercial Spaces Available

      33,236 SF building on 2.0 acres with spaces for lease.
      615 Herndon Ave, Orlando, FL 32803
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space on Colonial Drive

      Retail space available for lease on East Colonial Drive.
      4600 E Colonial Dr, Orlando, FL 32803
      View Details
    • $16,000 /Mo
      6,706 SF

      Orlando Office Space For Rent

      Prime medical/business district office space available for lease.
      326 N Mills Ave, Orlando, FL 32803
      View Details
    • Contact for pricing

      Orlando Central Office Space

      Scenic office park environment with convenient access to major routes.
      Maguire Blvd & Executive Ctr Dr, Orlando, FL 32803
      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.
    506 Virginia Dr
    Orlando, FL 32803-1856
    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

    Thank You for Inquiry
    506 Virginia Dr, Orlando, FL, 32803
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!