111 Summit StCrescent City, FL 32112

Property Details for 111 Summit St

Year built

1964

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.23 AC

Property size (Sq ft)

6,384 SF

Property type

Retail space

APN

30-12-28-1750-029.0-002.2

APU

301228175002900022

Description

This exceptional 7,502 square foot commercial building is ideally situated on US-17 in Crescent City, ensuring high visibility and significant daily traffic exposure. The property boasts a single-tenant occupancy, offering flexibility and control for the new owner. The building's versatile zoning (General Commercial) allows for a variety of uses, including retail, office, or restaurant operations. Key features include two garages and a convenient docking bay, enhancing operational efficiency. Recent upgrades significantly enhance the property's value and appeal; a new roof was installed in 2024, and a new air conditioning system was put in place in 2023. The building is currently entirely vacant, presenting a unique opportunity for immediate occupancy and customization to suit specific business needs. The substantial square footage provides ample space for a wide range of commercial ventures. This prime location, coupled with the recent renovations and versatile zoning, makes this property an exceptional investment opportunity in a high-traffic area. The absence of elevators should be considered when evaluating potential uses. Serious inquiries are encouraged to explore this promising commercial real estate offering.

• CAP approach

  CAP return

  Valuation

  6%

  $1,680,710

  6.5%

  $1,551,425

  7%

  $1,440,609

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,094,123

  Geo Method

  $1,094,123

• Alternative Use

  Use

  Valuation

  Residential

  $1,308,685

  Hospitality

  $1,198,748

  Educational

  $997,344

  Medical

  $1,031,645

  Retail

  $1,551,425

Location Insight

City

Crescent City

County

Putnam

State

Florida

Latitude

29.4318

Longitude

-81.5108

CBSA code

37260

CBSA name

PALATKA, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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