5303 Colonial DrOrlando, FL 32807

Property Details for 5303 Colonial Dr

Year built

1983

Lot size

0.49 AC

Property size (Sq ft)

10,320 SF

Zone code

C-2

Property type

Retail properties

Property subtype

Retail space

APN

21-22-30-4736-04-072

APU

212230473604072

Description

This exceptional retail space, located in the vibrant East Orlando submarket, offers 1,000 to 1,400 square feet of versatile commercial space within a larger 9,360 square foot building. Situated on a 0.49-acre lot, the property boasts a prime location with over 75,000 vehicles passing daily, ensuring high visibility and foot traffic. Built in 1983 and extensively renovated in 2022, the single-story building features a fresh paint job and updated landscaping. The suite itself is a basic rectangular space, currently configured as a salon, complete with one restroom. However, the open floor plan allows for flexible adaptation to various business needs, including but not limited to: event halls, barbershops/salons, training centers, coffee shops, insurance offices, law offices, cell phone stores, or labor recruiting agencies. The zoning (1105 - Retail M/t I) has already accommodated salon use, eliminating the need for additional permitting and impact fees. The building provides 25 parking spaces for customers and employees. Note that the space is not suitable for uses requiring extensive green space or large parking areas, such as churches or daycares. The property's strong tenant mix includes a massage therapist, dry cleaners, screen printing shop, clothing stores, and salon suites, creating a thriving commercial environment. This is an excellent opportunity for a business seeking a well-maintained, conveniently located space in a high-traffic area.

• CAP approach

  CAP return

  Valuation

  6%

  $3,604,466

  6.5%

  $3,327,200

  7%

  $3,089,542

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,083,785

  Geo Method

  $4,083,785

• Alternative Use

  Use

  Valuation

  Residential

  $2,806,617

  Hospitality

  $2,570,846

  Educational

  $2,138,914

  Medical

  $2,212,474

  Retail

  $3,327,200

Location Insight

City

Orlando

County

Orange

State

Florida

Latitude

28.5546

Longitude

-81.3183

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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