Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    508 Mls Ave Orlando, FL 32803-5353
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    508 Mls Ave Orlando, FL 32803-5353

    View on Map
    • Office buildings
    • 7,254 SF
    • 0.43 lot acres
    Off-Market
    Property ID
    US18-4438087
    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
    $1,185,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 508 Mls Ave

    Year built
    1958
    Lot size
    0.43 lot acres
    Property size
    7,254 SF
    Zone code
    O-1/T
    Property type
    Office buildings
    APN
    25-22-29-0000-00-003
    APU
    252229000000003

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,563,000
      Market price range: $1.47M - $3.17M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,955,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Orange
    State
    Florida
    Longitude
    -81.3647
    Latitude
    28.5501
    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
    $17,656
    $450,009
    $475,591
    $925,600
    -
    $450,009
    $475,591
    $925,600

    Comparable in this City

    • Value Estimation
      $4,820,000
      27,205 SF

      2300 Colonial Dr

      OFFICE BUILDING (MULTI-STORY) • 27,205 SF
      2300 Colonial Dr, Orlando, FL 32803-4914
      View Details
    • Value Estimation
      $6,090,000
      41,212 SF

      3751 Maguire Blvd

      OFFICE BUILDING (MULTI-STORY) • 41,212 SF
      3751 Maguire Blvd, Orlando, FL 32803-3077
      View Details
    • Value Estimation
      $780,000
      3,060 SF

      828 Lk Baldwin Ln

      OFFICE BUILDING • 3,060 SF
      828 Lk Baldwin Ln, Orlando, FL 32803-4323
      View Details
    • Value Estimation
      $3,490,000
      14,213 SF

      1801 Prospect Ave

      OFFICE BUILDING • 14,213 SF
      1801 Prospect Ave, Orlando, FL 32803-8100
      View Details
    • Value Estimation
      $2,765,000
      9,053 SF

      3755 Park Lk St

      OFFICE BUILDING • 9,053 SF
      3755 Park Lk St, Orlando, FL 32803-5216
      View Details
    • Value Estimation
      $940,000
      3,728 SF

      1206 Ridgewood St

      OFFICE BUILDING • 3,728 SF
      1206 Ridgewood St, Orlando, FL 32803-5447
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,058 SF

      Orlando Office Building For Sale

      7,058 SF office building available for purchase in Orlando.
      214 E Marks St, Orlando, FL 32803
      View Details
    • $1,299,000
      2,379 SF

      Mills 50 District Office Building

      Mixed-use office building in the Mills 50 District.
      802 E Colonial Dr, Orlando, FL 32803
      View Details
    • Contact for pricing

      Orlando Office Space For Sale

      Office building located in Orlando, Florida available for purchase.
      212 Pasadena Pl, Orlando, FL 32803
      View Details
    • $850,000
      1,704 SF

      Free-Standing Office Building For Sale

      1,704 SF free-standing office building, ideal for owner occupant.
      229 Pasadena Pl, Orlando, FL 32803
      View Details
    • Contact for pricing
      744 SF

      Mills50 District Office Building

      744 sq ft office in vibrant Mills50 district.
      1309 Wilfred Dr, Orlando, FL 32803
      View Details

    Similar Nearby for Lease

    • $16,000 /Mo
      6,706 SF

      Prime Medical/Business District Office

      Colonial-style office building in a prime medical and business district.
      326 N Mills Ave, Orlando, FL 32803
      View Details
    • Contact for pricing
      2,395 SF

      Freestanding Building on Colonial Drive

      Two-story office building with excellent visibility and on-site parking.
      635-712 E Colonial Dr, Orlando, FL 32803
      View Details
    • $15 SF/Yr

      Orlando Office Building For Lease

      33,236± SF office building for lease in Orlando, Florida.
      615 Herndon Ave, Orlando, FL 32803
      View Details
    • Contact for pricing

      Four-Story Office Building For Rent

      Office building with utilities, janitorial, and parking included.
      801 N Magnolia Ave, Orlando, FL 32803
      View Details
    • Contact for pricing

      Mills 50 District Office Space

      Office building in the Mills 50 District for rent.
      704-712 E Colonial Dr, Orlando, FL 32803
      View Details
    • Contact for pricing
      3,000 SF

      Freestanding Office Building on Corrine

      Professional office building with excellent exposure and on-site parking.
      3217 Corrine 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.
    508 Mls Ave
    Orlando, FL 32803-5353
    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.
    Sign Up Successful!
    You now have access to more from Realmo!