Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    988 Westwood Sq Oviedo, FL 32765-6566

    • Office buildings
    • 2,296 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    Oct 03, 2022
    $2,380
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2236378
    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

    • Love For The World INC / Charitable Organization
    • ACAM GROUP / Big Box & Wholesale Store / Auto Parts Store
    • PARTS FOR VINTAGE CARS / Auto Parts Store
    • Oviedo Graphic Arts / Marketing & Advertising / Advertising Agency
    • HippieTea Healing Centre / Life Coach / Spiritist Center

    Property Details for 988 Westwood Sq

    Year built
    1978
    Construction
    CONCRETE BLOCKS
    Lot size
    0.32 lot acres
    Property size
    2,296 SF
    Property type
    Office buildings
    APN
    16-21-31-300-033E-0000
    APU
    162131300033E0000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Oviedo
    County
    Seminole
    State
    Florida
    Longitude
    -81.224
    Latitude
    28.6565
    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
    $5,606
    $0.00
    $0.00
    $352,424
    -
    $109,880
    $242,544
    $352,424

    Comparable in this City

    • Value Estimation
      $4,320,000
      16,430 SF

      1200 Duda Trl

      OFFICE BUILDING • 16,430 SF
      1200 Duda Trl, Oviedo, FL 32765-4507
      View Details
    • Value Estimation by Request
      1,999 SF

      254 Plz Dr

      OFFICE BUILDING • 1,999 SF
      254 Plz Dr, Oviedo, FL 32765-6431
      View Details
    • Value Estimation
      $995,000
      4,753 SF

      1460 Red Bug Rd

      PROFESSIONAL BUILDING • 4,753 SF
      1460 Red Bug Rd, Oviedo, FL 32765-6529
      View Details
    • Value Estimation
      $1,720,000
      6,005 SF

      425 Tutus Pt

      PROFESSIONAL BUILDING • 6,005 SF
      425 Tutus Pt, Oviedo, FL 32765-8406
      View Details
    • Value Estimation
      $1,390,000
      4,712 SF

      280 Alafaya Woods Blvd

      PROFESSIONAL BUILDING • 4,712 SF
      280 Alafaya Woods Blvd, Oviedo, FL 32765-7064
      View Details
    • Value Estimation by Request
      1,815 SF

      2989 Alafaya Trl

      PROFESSIONAL BUILDING • 1,815 SF
      2989 Alafaya Trl, Oviedo, FL 32765-9493
      View Details

    Similar Nearby for Sale

    • $900,000
      1,652 SF

      Class A Medical/Professional Office

      Turnkey medical/professional office space with high-end finishes in Oviedo, FL.
      7560 Red Bug Lake Rd, Oviedo, FL 32765
      View Details
    • $1,720,000
      4,060 SF

      Prime Oviedo Medical Office Building

      Spacious Office, Excellent Location, High Visibility
      25 Windsormere Way, Oviedo, FL 32765
      View Details
    • $2,300,000
      4,690 SF

      Class A Medical/Professional Office

      Turnkey, furnished medical/professional office space in Oviedo, Florida.
      7560 Red Bug Lake Rd, Oviedo, FL 32765
      View Details
    • $1,400,000
      3.86 Acres

      Oviedo Commercial Land For Sale

      3.86 acre commercial land parcel in Oviedo, Florida.
      1151 W Sugar Mill Rd, Oviedo, FL 32765
      View Details
    • $2,000,000
      2,795 SF

      Oviedo Retail Center - Prime Location

      Gas Station & Convenience Store - High Traffic Area
      1045 Broadway St, Oviedo, FL 32765
      View Details

    Similar Nearby for Lease

    • $62,820

      Oviedo Office Building For Lease

      3,141 SF office building for lease in Oviedo, Florida.
      113 W Chapman Rd, Oviedo, FL 32765
      View Details
    • $30 SF/Yr
      50,000 SF

      Oviedo Office Park Suite - 6,150 SF

      Prestigious Oviedo office suite, ideal for corporate use.
      7560 Red Bug Lake Rd, Oviedo, FL 32765
      View Details
    • $17,400 /Mo

      Versatile Warehouse with Office Space

      Warehouse and office space near 417 Expressway, Oviedo, Florida.
      431 Aulin Ave, Oviedo, FL 32765
      View Details
    • Contact for pricing
      16,023 SF

      Oviedo Office Space For Lease

      1,433 SF Office Suite Available in Oviedo, FL
      1890 County Road 419, Oviedo, FL 32765
      View Details
    • $16 SF/Yr
      1,650 SF

      Office Space For Rent

      Office space available for lease in Oviedo, Florida.
      2100 Alafaya Trl, Oviedo, FL 32765
      View Details
    • Contact for pricing
      20 SF

      Medical Office Development Opportunity

      New Class A medical office space for lease.
      1675 West Broadway St, Oviedo, FL 32765
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    988 Westwood Sq
    Oviedo, FL 32765-6566
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.