113 Summit StCrescent City, FL 32112

Property Details for 113 Summit St

Year built

1961

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.28 AC

Property size (Sq ft)

4,680 SF

Property type

Retail space

APN

30-12-28-1750-029.0-002.3

APU

301228175002900023

Description

This exceptional 4,112 square foot freestanding retail storefront is located at 113 N Summit St, Crescent City, FL 32112, in Putnam County. Currently vacant, this property presents a compelling value-add opportunity for investors seeking to capitalize on a strong location and high traffic counts. The building enjoys a prominent position on N Summit St, with over 10,000 vehicles passing daily, ensuring excellent visibility and accessibility for future tenants. The property benefits from a substantial population base, with over 3,000 residents within a three-mile radius, and projected population growth of +0.37% through 2028. This indicates a stable and growing market for retail businesses. The location is strategically situated between Orlando and Jacksonville, offering convenient access to a larger regional market. Florida's income tax-free status further enhances the investment appeal. This vacant storefront provides a blank canvas for a creative investor to develop a thriving retail space, taking advantage of the high traffic volume and growing population in this desirable location. The property is available for sale or lease.

• CAP approach

  CAP return

  Valuation

  6%

  $1,232,100

  6.5%

  $1,137,323

  7%

  $1,056,085

• Comparable approach

  Method

  Valuation

  Relative Method

  $802,083

  Geo Method

  $802,083

• Alternative Use

  Use

  Valuation

  Residential

  $959,374

  Hospitality

  $878,782

  Educational

  $731,136

  Medical

  $756,281

  Retail

  $1,137,323

Location Insight

City

Crescent City

County

Putnam

State

Florida

Latitude

29.432

Longitude

-81.5109

CBSA code

37260

CBSA name

PALATKA, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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