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    Property profile & analytics

    8431 Colonial Dr Orlando, FL 32817

    • Grocery and convenience stores
    • 6,105 SF
    • 0.71 lot acres
    OFF-MARKET
    Value Estimations
    $350,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1102470
    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

    • Grocery and convenience stores

    Property Details for 8431 Colonial Dr

    Year built
    1976
    Lot size
    0.71 lot acres
    Property size
    6,105 SF
    Zone code
    C-1
    Property type
    Grocery and convenience stores
    APN
    13-22-30-3640-02-010
    APU
    132230364002010

    Description

    This exceptional Orlando investment opportunity features a fully operational gas station and convenience store with a second tenant, a grocery store with a full kitchen. Located on a high-traffic corner lot at the first exit off Highway 417 onto Colonial Drive, this property boasts over 45,000 average daily vehicles passing by. The 4,235 square foot building sits on a 0.71-acre lot and includes 11 parking spaces. The gas station features 8 pumps (4 double-sided) with 3 fuel grades and 1 diesel pump, updated credit card payment systems, and energy-efficient LED lighting. Double-walled gas tanks ensure environmental compliance. The property benefits from a Triple Net Lease (NNN) with two tenants, providing a stable income stream. The convenience store occupies 1,693 square feet, and the grocery store/mini-mart with a full kitchen occupies 2,542 square feet. Additional revenue streams include an ATM and lottery sales. The property underwent recent upgrades, including a new roof and exterior paint in 2024. This 100% occupied, multi-tenant property offers a 4.50% cap rate and is priced at $2,270,000 ($536.01/sq ft). The current lease terms have one year remaining. Built in 1976, this single-story building presents a strong value-add investment opportunity with immediate returns and long-term growth potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $392,000
      Market price range: $314k - $626k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $410,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $415,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Orange
    State
    Florida
    Longitude
    -81.2726
    Latitude
    28.5688
    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
    $14,092
    $522,206
    $757,888
    $1,280,094
    -
    $522,206
    $757,888
    $1,280,094

    Comparable in this City

    • Value Estimation
      $325,000
      3,691 SF

      10001 University Blvd

      CONVENIENCE STORE • 3,691 SF
      10001 University Blvd, Orlando, FL 32817-1902
      View Details
    • Value Estimation
      $280,000
      3,514 SF

      4980 Hall Rd

      CONVENIENCE STORE • 3,514 SF
      4980 Hall Rd, Orlando, FL 32817-1073
      View Details
    • Value Estimation
      $365,000
      6,795 SF

      10961 Colonial Dr

      CONVENIENCE STORE • 6,795 SF
      10961 Colonial Dr, Orlando, FL 32817
      View Details
    • Value Estimation
      $365,000
      8,452 SF

      11300 University Blvd

      CONVENIENCE STORE • 8,452 SF
      11300 University Blvd, Orlando, FL 32817-2107
      View Details
    • Value Estimation
      $465,000
      9,713 SF

      9400 Colonial Dr

      CONVENIENCE STORE • 9,713 SF
      9400 Colonial Dr, Orlando, FL 32817-4112
      View Details
    • Value Estimation
      $2,315,000
      35,110 SF

      10625 Colonial Dr

      GROCERY, SUPERMARKET • 35,110 SF
      10625 Colonial Dr, Orlando, FL 32817-4470
      View Details

    Similar Nearby for Sale

    • $2,500,000

      Asian Supermarket with Food Court

      Profitable, fully equipped Asian supermarket with food court for sale.
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    • $489,000

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      Existing Business Opportunity

      Business for sale, new lease required.
      8435 E Colonial Dr, Orlando, FL 32817
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    • $489,000
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      Prime Orlando Retail Space Near UCF

      700 sq ft Retail Space - Turnkey Business Opportunity
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    • $448,500
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      Turnkey Restaurant on Colonial Drive

      Restaurant with strong fundamentals and expansion potential in Orlando.
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    Similar Nearby for Lease

    • $1,500 /Mo
      1,000 SF

      Retail Space on Colonial Drive

      Move-in ready retail space with high traffic and signage.
      9422 East Colonial Dr, Orlando, FL 32817
      View Details
    • $20 SF/Yr
      26,333 SF

      International Plaza Medical Office Space

      Orlando medical office, 2,275 sq ft available
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    • $55 SF/Yr
      4,028 SF

      Retail Space in Orlando

      Retail space available for lease in Orlando, Florida.
      12042 Collegiate Way, Orlando, FL 32817
      View Details
    • $1,800 /Mo
      900 SF

      Retail Space in Shopping Center

      Retail space available in a professionally managed shopping center.
      9645 E Colonial Dr, Orlando, FL 32817
      View Details
    • $28 SF/Yr
      3,456 SF

      Retail Property with Drive-Thru

      Former bank with drive-thru available for lease.
      9505 E Colonial Dr, Orlando, FL 32817
      View Details
    • Contact for pricing
      4,951 SF

      Retail Space Near University

      Retail spaces available near Waterford Lakes Town Center and UCF.
      11790-11798 E Colonial Dr, Orlando, FL 32817
      View Details
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    Orlando, FL 32817
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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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