2123 Crawfordville HwyCrawfordville, FL 32327

Property Details for 2123 Crawfordville Hwy

Year built

2020

Construction

FRAME

Lot size

1.00 AC

Property size (Sq ft)

2,179 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

19-3S-01W-394-04530-003

APU

193S01W39404530003

Description

This exceptional investment opportunity presents a 2,145 square foot Popeye's Chicken restaurant located at 2123 Crawfordville Hwy, Crawfordville, FL 32327. The property, built in 2020, sits on a one-acre lot with 25 parking spaces and enjoys excellent visibility due to its direct frontage on Crawfordville Highway. Currently operating under a 20-year absolute NNN lease (commencing June 1, 2020) with 16 years remaining, this single-tenant property boasts a credit-rated franchisee with a proven track record. The lease includes three five-year renewal options, ensuring long-term stability. Rent increases by 10% every five years, providing significant future income growth. The property features a Class B building, zoned for general commercial use, and generates a substantial net operating income (NOI) of $132,000 annually, resulting in a compelling 5.00% cap rate. The asking price is $2,640,000. This is a turnkey investment with minimal management requirements, offering a secure and profitable return for the discerning investor. The property is well-maintained and benefits from high occupancy (100%). Detailed financial information is available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $663,066

  6.5%

  $612,061

  7%

  $568,342

• Comparable approach

  Method

  Valuation

  Relative Method

  $390,361

  Geo Method

  $390,361

• Alternative Use

  Use

  Valuation

  Residential

  $516,296

  Hospitality

  $472,925

  Educational

  $393,468

  Medical

  $407,000

  Retail

  $612,061

Location Insight

City

Crawfordville

County

Wakulla

State

Florida

Latitude

30.2141

Longitude

-84.3628

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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