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

    7649 Colonial Dr Orlando, FL 32818-6631

    • Strip malls
    • 23,898 SF
    • 7.18 lot acres
    OFF-MARKET
    Last Sale
    Aug 14, 2020
    $5,300,000
    Value Estimations
    $6,870,000
    Show details
    Cap Rate Potential
    7%
    Strip malls
    Location Intelligence
    Property ID
    US18-4571141
    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

    • Envious Salon Suites / Hair Salon
    • UFC GYM Orlando / Gym
    • Avanti / Lodge
    • Hair Allure by Alexis / Hair Salon
    • Judah Church / Church

    Property Details for 7649 Colonial Dr

    Year built
    2001
    Lot size
    7.18 lot acres
    Property size
    23,898 SF
    Zone code
    P-D
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    23-22-28-9200-00-080
    APU
    232228920000080

    Description

    Westland Terrace, located at 7649 W Colonial Dr in Orlando, Florida (zip code 32818), presents a prime retail investment opportunity. This multi-tenant strip center boasts a substantial total building area of 252,883 square feet, with a significant 12,000 square feet currently available for lease. The property's strategic location in Orlando offers excellent visibility and accessibility, making it an ideal space for a variety of retail businesses. The existing tenancy is comprised of multiple businesses, creating a vibrant and thriving commercial environment. The available 12,000 square feet provides ample space for expansion or a new tenant looking to establish a strong presence in a high-traffic area. This property is situated at 28.5539802 latitude and -81.4879445 longitude. The property type is retail, specifically a strip center. This presents a unique chance to acquire a substantial portion of a well-established retail center in a dynamic Florida market. The 12,000 square foot space offers significant potential for growth and profitability. Serious inquiries are encouraged to explore this exceptional opportunity further. Detailed property information and lease terms are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,135,000
      ML approach
      $8,885,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,380,000
      6.5%
      $7,735,000
      7%
      $7,185,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,175,000
      OFFICE BUILDING
      $4,420,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Orange
    State
    Florida
    Longitude
    -81.4881
    Latitude
    28.5537
    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
    $88,498
    $3,128,075
    $4,454,099
    $7,582,174
    -
    $3,128,075
    $4,454,099
    $7,582,174

    Comparable in this City

    • Value Estimation
      $2,690,000
      88,774 SF

      6385 Colonial Dr

      SHOPPING CENTER, STRIP CENTER • 88,774 SF
      6385 Colonial Dr, Orlando, FL 32818-7824
      View Details
    • Value Estimation
      $2,235,000
      90,991 SF

      2620 Hiawassee Rd

      SHOPPING CENTER, STRIP CENTER • 90,991 SF
      2620 Hiawassee Rd, Orlando, FL 32818-3005
      View Details
    • Value Estimation
      $1,905,000
      23,556 SF

      601 Powers Dr

      SHOPPING CENTER, STRIP CENTER • 23,556 SF
      601 Powers Dr, Orlando, FL 32818-7827
      View Details
    • Value Estimation
      $1,785,000
      29,803 SF

      6801 Colonial Dr

      SHOPPING CENTER, STRIP CENTER • 29,803 SF
      6801 Colonial Dr, Orlando, FL 32818-7856
      View Details
    • Value Estimation
      $2,230,000
      30,201 SF

      751 Good Homes Rd

      SHOPPING CENTER, STRIP CENTER • 30,201 SF
      751 Good Homes Rd, Orlando, FL 32818-6607
      View Details
    • Value Estimation by Request
      78,745 SF

      707 Good Homes Rd

      Neighborhood centers • 78,745 SF
      707 Good Homes Rd, Ocoee, FL 32818
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land Available Near Wawa

      Land for sale or ground lease near Wawa.
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      4.98 Acres

      Prime Commercial Land, Mt. Dora, FL

      4.98 Acres, High-Traffic Location
      0 Us-441, Orlando, FL 32818
      View Details
    • $395,000
      Pending

      Expansive Land in Orlando, Florida

      Almost 3-acre property in a desirable Orlando location.
      1807 Good Homes Rd, Orlando, FL 32818
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    • $924,000

      Two Acres in Orlando

      Two acre lot in Orlando, great investment opportunity!
      Hiawassee Rd, Orlando, FL 32818
      View Details
    • $750,000
      7 SF

      Apopka Vineland Road Land Opportunity

      7.39 acre land parcel near Orlando and Winter Garden.
      5139 North Apopka Vineland Rd, Orlando, FL 32818
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    • Contact for pricing

      Land Available Near Wawa

      Land for sale or ground lease near high-traffic area.
      5501 N Apopka Vineland Rd, Orlando, FL 32818
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    Similar Nearby for Lease

    • Contact for pricing
      113,252 SF

      Retail Space in Sun Plaza

      Save-A-Lot anchored shopping center in Pine Hills area.
      6385 West Colonial Dr, Orlando, FL 32818
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space on West Colonial

      Retail space available in a busy Orlando shopping center.
      7038-7264 W Colonial Dr, Orlando, FL 32818
      View Details
    • Contact for pricing
      17,940 SF

      Village West Retail Center Investment

      Orlando Retail Strip Center, Two Spaces Available
      6404 Colonial Dr, Orlando, FL 32818
      View Details
    • $24 SF/Yr
      78,745 SF

      Ocoee Retail Space: Prime Location

      1,100 SF Available in Thriving Center
      707 Good Homes Rd, Ocoee, FL 32818
      View Details
    • $20 SF/Yr
      160,792 SF

      West Colonial Oaks Retail Center

      Orlando Retail Space: 4,800 SF Available
      7174 Colonial Dr, Orlando, FL 32818
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space in Busy Center

      Retail space available in shopping center with national tenants.
      7311 W Colonial Dr, Orlando, FL 32818
      View Details
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    7649 Colonial Dr
    Orlando, FL 32818-6631
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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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