801 Walnut StStarke, FL 32091

Property Details for 801 Walnut St

Year built

1974

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

6.52 AC

Property size (Sq ft)

84,782 SF

Property type

Retail properties

Property subtype

Community centers

APN

04438-0-00200

APU

4438000200

Description

This exceptional 79,623-square-foot shopping center in Starke, Florida, presents a compelling investment opportunity. Boasting a 94.35% occupancy rate, the property is anchored by a strong mix of national and regional tenants including T.J. Maxx, Five Below, Dollar General, Harbor Freight Tools, and Farmers Furniture. Recent capital improvements totaling approximately $1.5 million have significantly enhanced the center, resulting in a dramatic increase in foot traffic—from 336,800 visits in 2021 to 755,500 in 2024. Strategically located between Gainesville and Jacksonville, this center benefits from access to multiple markets within a 30-minute drive, making it a highly desirable retail destination. Its proximity to Camp Blanding, a major National Guard training site, and numerous residential complexes and educational institutions, including Santa Fe College and North Florida Technical College, further strengthens its appeal. The property features a fee-simple ownership structure, a triple-net (NNN) lease type, and sits on a 6.53-acre lot. Built in 1974 and renovated in 2023, the center is zoned B-3: Highway Commercial District. The asking price is $4,950,000, representing a pro-forma cap rate of 7.36% and a pro-forma NOI of $364,188. This seven-unit shopping center offers a stable income stream and significant growth potential in a thriving Florida market. The property's strong tenant mix, recent improvements, and prime location make it an ideal addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $26,913,750

  6.5%

  $24,843,460

  7%

  $23,068,928

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,530,380

  Geo Method

  $14,530,380

• Alternative Use

  Use

  Valuation

  Residential

  $20,956,388

  Hospitality

  $19,195,940

  Educational

  $15,970,796

  Medical

  $16,520,056

  Retail

  $24,843,460

Location Insight

City

Starke

County

Bradford

State

Florida

Latitude

29.9375

Longitude

-82.1138

Property Tax & Assessments

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