2563 Park DrSanford, FL 32773

Property Details for 2563 Park Dr

Year built

1959

Construction

CONCRETE

Lot size

0.72 AC

Property size (Sq ft)

2,914 SF

Property type

Retail space

APN

01-20-30-504-0600-0010

APU

1203050406000010

Description

This exceptional 10,623 square foot shopping center in Sanford, Florida, presents a compelling value-add opportunity. Currently 100% occupied with six units, the property boasts a strong NOI of $85,378, yielding a 6.83% cap rate at the $1,250,000 asking price. However, with below-market rents and leases expiring within one year, a significant pro-forma NOI of $174,355 and a 13.95% pro-forma cap rate are projected. Built in 1957 and renovated in 1980, this single-story building sits on a 31,363 square foot lot, zoned GC2. Its prime location near I-4 and SR 417 provides easy access to Orlando and Daytona Beach, while proximity to Orlando Sanford International Airport enhances its appeal. The thriving Sanford market, with its diverse economy and growing population, ensures strong tenant demand. This property offers immediate cash flow with substantial upside potential through lease renewals at market rates and potential property improvements. The current tenant mix provides stability and reduced risk. This is a rare opportunity to acquire a well-located, income-producing asset with significant value appreciation potential in a rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $729,154

  6.5%

  $673,065

  7%

  $624,989

• Comparable approach

  Method

  Valuation

  Relative Method

  $819,730

  Geo Method

  $819,730

• Alternative Use

  Use

  Valuation

  Residential

  $567,755

  Hospitality

  $520,061

  Educational

  $432,685

  Medical

  $447,565

  Retail

  $673,065

Location Insight

City

Sanford

County

Seminole

State

Florida

Latitude

28.7828

Longitude

-81.2713

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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