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    Property profile & analytics

    924 Magnolia Ave Orlando, FL 32803

    • Office buildings
    • 17,858 SF
    • 1.56 lot acres
    For Lease
    View listing
    $25 SF/Yr
    Last Sale
    Sep 01, 2021
    $6,700,000
    Value Estimations
    $7,060,000
    Cap Rate Potential
    4.6%
    Office buildings
    Location Intelligence
    Property ID
    US18-2693931
    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

    • Kaley Sinclair Jiawon, LMHC, LMFT / Counselor
    • Elite Service Center LLC / Health Insurance Agency
    • Esteem Affirmations / E-Commerce Service
    • Double Fold / Property Management Company
    • Life Skills Associates / Counselor / Family Counselor

    Property Details for 924 Magnolia Ave

    Year built
    1972
    Lot size
    1.56 lot acres
    Property size
    17,858 SF
    Zone code
    AC-3A/T
    Property type
    Office buildings
    APN
    23-22-29-2552-00-380
    APU
    232229255200380

    Description

    This exceptional office property, located at 924 N Magnolia Ave in Orlando, Florida, offers a diverse range of spaces ideal for various business needs. Comprising two, three-story buildings totaling 30,000 square feet, this Class B property provides multiple tenancy options. Units range from a minimum of 105 square feet to a maximum contiguous space of 1,000 square feet, with 12 spaces currently available. The property's convenient location between Downtown Orlando and Ivanhoe Village offers easy access to I-4 and is within walking distance of Lake Ivanhoe Park and the vibrant shops and restaurants of Ivanhoe Village. Built in 1972, the buildings boast ample parking with 135 spaces, ensuring convenient access for tenants and clients. Recently improved directory signage enhances visibility and accessibility. The property is zoned AC-3A/T and its Orange County APN is 23-22-29-2552-00-380. This versatile space is perfectly suited for a variety of professional office users, including attorneys, CPA firms, and other businesses seeking a prime location with flexible space options. The property's diverse suite sizes, ample parking, and convenient location make it an attractive option for businesses of all sizes.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,810,000
      ML approach
      $7,870,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,930,000
      6.5%
      $5,475,000
      7%
      $5,080,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,808,000
      Market price range: $3.61M - $7.81M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,560,000
      Current use
      RESTAURANT
      $8,825,000
      Change: +59% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $5,955,000
      Change: +7% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $5,880,000
      Change: +6% Conversion: Easy
      RETAIL STORES
      $4,815,000
      Change: -13% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Orlando
    County
    Orange
    State
    Florida
    Longitude
    -81.3774
    Latitude
    28.558
    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
    $115,653
    $1,905,122
    $3,969,998
    $5,875,120
    -
    $1,905,122
    $3,969,998
    $5,875,120

    Comparable in this City

    • Value Estimation
      $3,945,000
      25,900 SF

      930 Woodcock Rd

      OFFICE BUILDING (MULTI-STORY) • 25,900 SF
      930 Woodcock Rd, Orlando, FL 32803-3752
      View Details
    • Value Estimation
      $1,765,000
      11,346 SF

      1419 Colonial Dr

      OFFICE BUILDING (MULTI-STORY) • 11,346 SF
      1419 Colonial Dr, Orlando, FL 32803-4703
      View Details
    • Value Estimation
      $2,160,000
      12,960 SF

      11 Bumby Ave

      OFFICE BUILDING (MULTI-STORY) • 12,960 SF
      11 Bumby Ave, Orlando, FL 32803-7401
      View Details
    • Value Estimation
      $2,525,000
      17,272 SF

      2121 Camden Rd

      OFFICE BUILDING • 17,272 SF
      2121 Camden Rd, Orlando, FL 32803-1447
      View Details
    • Value Estimation
      $1,470,000
      5,888 SF

      1621 Mls Ave

      PROFESSIONAL BUILDING • 5,888 SF
      1621 Mls Ave, Orlando, FL 32803-1849
      View Details
    • Value Estimation
      $885,000
      4,348 SF

      301 Fern Crk Ave

      OFFICE BUILDING • 4,348 SF
      301 Fern Crk Ave, Orlando, FL 32803-5400
      View Details

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      Executive Office Suite For Rent

      Executive office suite between Downtown Orlando and Ivanhoe Village.
      934 N Magnolia Ave, Orlando, FL 32803
      View Details
    • $15 SF/Yr
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      Prime Office Space Available

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      View Details
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    924 Magnolia Ave
    Orlando, FL 32803
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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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