2281 Us Highway 90Lake City, FL 32055

Property Details for 2281 Us Highway 90

Year built

1997

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.64 AC

Property size (Sq ft)

6,936 SF

Zone code

CI

Property type

Retail properties

Property subtype

Turn key restaurants

APN

36-3S-16-02611-006

APU

363S1602611006

Description

This exceptional 5,109 square foot restaurant building presents a unique investment opportunity in Lake City, Florida. Situated on a 1.6-acre lot at a highly visible, lighted intersection along West US Highway 90, this single-tenant property boasts 85 parking spaces, ensuring ample convenience for patrons. The building's strategic location places it within the heart of Lake City's thriving retail corridor, enjoying close proximity to major national retailers such as Home Depot, Lowe's, Walmart, CVS, Publix, and Starbucks. This high-traffic area guarantees significant visibility and accessibility for any restaurant operator. The property is categorized as a second-generation restaurant, offering a ready-to-occupy space with existing infrastructure. Located in Columbia County, Florida, with the address 2281 W US Hwy 90, Lake City, FL 32055, this property offers a compelling combination of location, size, and parking, making it an ideal investment for experienced restaurant owners or those seeking a turnkey operation in a bustling retail environment. The property's size and location provide significant potential for growth and profitability. This is a rare opportunity to acquire a well-positioned restaurant property in a strong retail market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,201,809

  6.5%

  $2,032,439

  7%

  $1,887,265

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,188,728

  Geo Method

  $1,188,728

• Alternative Use

  Use

  Valuation

  Residential

  $1,714,438

  Hospitality

  $1,570,416

  Educational

  $1,306,568

  Medical

  $1,351,503

  Retail

  $2,032,439

Location Insight

City

Lake City

County

Columbia

State

Florida

Latitude

30.1797

Longitude

-82.6696

CBSA code

29380

CBSA name

LAKE CITY, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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