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    951 Lockwood Blvd Oviedo, FL 32765-7319
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    Property profile & analytics

    951 Lockwood Blvd Oviedo, FL 32765-7319

    View on Map
    • Drive through restaurants
    • 5,060 SF
    • 1.12 lot acres
    Off-Market
    Property ID
    US18-3053707
    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
    $3,815,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Verizon / Mobile Phone Store / Electronics & Wireless Store
    • Arby's / Restaurant / Take-out & Catering
    • Verizon Business Services / Telecommunications Service / Data Center

    Property Details for 951 Lockwood Blvd

    Year built
    2017
    Construction
    CONCRETE BLOCKS
    Lot size
    1.12 lot acres
    Property size
    5,060 SF
    Property type
    Drive through restaurants
    APN
    13-21-31-502-0000-0010
    APU
    13213150200000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,814,000
      Market price range: $1.62M - $5.62M
      AI Estimate
      $3,814,000
      Market price range: $1.62M - $5.62M

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

    Location Insight

    • Map
    • Local Demand
    City
    Oviedo
    County
    Seminole
    State
    Florida
    Longitude
    -81.1786
    Latitude
    28.6577
    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
    $31,487
    $0.00
    $0.00
    $1,958,150
    -
    $710,339
    $1,247,811
    $1,958,150

    Comparable in this City

    • Value Estimation
      $4,880,000
      4,753 SF

      205 Mitchell Hammock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,753 SF
      205 Mitchell Hammock Rd, Oviedo, FL 32765-4701
      View Details
    • Value Estimation
      $1,645,000
      2,088 SF

      305 Mitchell Hammock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,088 SF
      305 Mitchell Hammock Rd, Oviedo, FL 32765-4702
      View Details
    • Value Estimation
      $1,175,000
      2,637 SF

      960 Mitchell Hammock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,637 SF
      960 Mitchell Hammock Rd, Oviedo, FL 32765-8101
      View Details
    • Value Estimation
      $4,350,000
      4,445 SF

      889 Mitchell Hammock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,445 SF
      889 Mitchell Hammock Rd, Oviedo, FL 32765-6630
      View Details
    • Value Estimation
      $2,620,000
      3,119 SF

      3551 Dovera Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,119 SF
      3551 Dovera Dr, Oviedo, FL 32765-9152
      View Details
    • Value Estimation
      $3,315,000
      2,883 SF

      120 Mitchell Hammock Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,883 SF
      120 Mitchell Hammock Rd, Oviedo, FL 32765-7643
      View Details

    Similar Nearby for Sale

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      5,000 SF

      Oviedo Restaurant - Prime Location

      Upscale Restaurant, High-Demand Area
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      View Details
    • $300,000

      Established Latin Restaurant in Oviedo

      Turnkey Latin restaurant with loyal clientele in prime Oviedo location.
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    • $2,900,000

      New Retail Building in Oviedo

      Newly built retail space with a national tenant.
      2386 W State Road 426, Oviedo, FL 32765
      View Details
    • $2,900,000
      7,555 SF

      New Retail Building in Oviedo

      Freestanding retail building occupied by K9 Resorts Luxury Pet Hotel.
      2386 W State Road 426, Oviedo, FL 32765
      View Details
    • Contact for pricing
      2,795 SF

      Retail Space For Sale

      Retail space available for purchase.
      1045 Broadway St, Oviedo, FL 32765
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Endcap Near UCF

      Retail space available in Publix-anchored center, near UCF.
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    • Contact for pricing

      Retail/Professional Plaza Near UCF

      Retail and professional spaces available near the University of Central Florida.
      50 Gemini Blvd N, Orlando, FL 32765
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Oviedo, FL

      Retail space available for lease in Oviedo, Florida.
      7505 Red Bug Lake Rd, Oviedo, FL 32765
      View Details

    Property Visit Statistics

    • Visits by month
      2.9k
    • Visitors by month
      1.7k
    • Avg Time on site
      27 min
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    Oviedo, FL 32765-7319
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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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    951 Lockwood Blvd, Oviedo, FL, 32765
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