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    Property profile & analytics

    515 E Altamonte Dr Altamonte Springs, FL 32701

    • Community centers
    • 60,000 SF
    • 5.92 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7254622
    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

    • Community centers

    Property Details for 515 E Altamonte Dr

    Year built
    1979
    Construction
    CONCRETE BLOCKS
    Lot size
    5.92 lot acres
    Property size
    60,000 SF
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    13-21-29-300-003A-0000
    APU
    132129300003A0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,965,000
      Market price range: $8.97M - $22.1M
      AI Estimate
      $8,965,000
      Market price range: $8.97M - $22.1M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $13,330,000
      Current use
      RETAIL STORES
      $11,400,000
      Change: -14% Conversion: Easy
      OFFICE BUILDING
      $11,055,000
      Change: -17% Conversion: Moderate
      WAREHOUSE, STORAGE
      $10,960,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Altamonte Springs
    County
    Seminole
    State
    Florida
    Longitude
    -81.3721
    Latitude
    28.6651
    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
    $95,010
    $0.00
    $0.00
    $5,829,793
    -
    $2,281,450
    $3,548,343
    $5,829,793

    Comparable in this City

    • Value Estimation
      $14,375,000
      90,766 SF

      478 Altamonte Dr Ste, Unit 102

      MINI-MALL • 90,766 SF
      478 Altamonte Dr Ste, Altamonte Springs, FL 32701-4615
      View Details
    • Value Estimation
      $36,500,000
      3,969 SF

      293 Altamonte Dr

      MINI-MALL • 3,969 SF
      293 Altamonte Dr, Altamonte Springs, FL 32701-4349
      View Details
    • Value Estimation by Request
      56,710 SF

      720 Altamonte Dr

      MINI-MALL • 56,710 SF
      720 Altamonte Dr, Altamonte Springs, FL 32701-4805
      View Details
    • Value Estimation
      $2,825,000
      11,500 SF

      420 Altamonte Dr Ste, Unit 1000

      MINI-MALL • 11,500 SF
      420 Altamonte Dr Ste, Altamonte Springs, FL 32701-4659
      View Details
    • Value Estimation
      $36,500,000
      29,094 SF

      175 Altamonte Dr

      MINI-MALL • 29,094 SF
      175 Altamonte Dr, Altamonte Springs, FL 32701-4346
      View Details
    • Value Estimation
      $4,415,000
      14,965 SF

      696 Altamonte Dr

      MINI-MALL • 14,965 SF
      696 Altamonte Dr, Altamonte Springs, FL 32701-4831
      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
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    • $22,436,479
      16,014 SF

      Altamonte Springs Retail Portfolio

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    • $5,000,000
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      Raising Cane's NNN Lease, Altamonte Springs

      High-yield, 15-year NNN lease, prime location
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    • $80,000

      Turnkey Hair Salon Opportunity

      Established hair salon for sale in Altamonte Springs, Florida.
      478 E Altamonte Dr, Altamonte Springs, FL 32701
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    • $3,603,622
      3,835 SF

      Panera Bread Net Lease Investment

      Altamonte Springs, FL: Prime QSR location, strong NOI.
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    • $3,725,000

      Altamonte Springs Commercial Property For Sale

      High-visibility commercial property suitable for retail, medical, or office use.
      614 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details

    Similar Nearby for Lease

    • 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
    • Contact for pricing
      2,500 SF

      Retail Space on Altamonte Drive

      Retail space with high traffic and frontage on Altamonte.
      175 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • Contact for pricing
      8,550 SF

      Retail Space Near Altamonte Mall

      Retail space available in Publix-anchored center with high traffic.
      482 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • Contact for pricing
      43,767 SF

      Retail Space Near I-4 Expressway

      Retail property with ample parking and high traffic volume.
      350 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • Contact for pricing
      1,604 SF

      Retail Space in Altamonte Springs

      Retail space available in premier Altamonte Springs shopping destination.
      301 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space in Altamonte Springs

      Neighborhood shopping center near Altamonte Mall and Florida Hospital.
      515 E Altamonte Dr, Altamonte Springs, FL 32701
      View Details
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    Altamonte Springs, FL 32701
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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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