179 Base StMadison, FL 32340

Property Details for 179 Base St

Year built

1901

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.23 AC

Property size (Sq ft)

11,381 SF

Property type

Retail properties

Property subtype

Retail space

APN

00-00-00-3656-000-000

APU

3656000000

Description

This exceptional commercial property, located at 179 E Base Street Unit 179 in the heart of downtown Madison, Florida, presents a rare opportunity for significant development. The substantial 11,381 square-foot building, situated on a 0.22-acre lot, offers a blank canvas for a wide range of commercial ventures. Its two-story layout provides ample space for diverse uses, including but not limited to a motel, apartments, retail stores, office spaces, or a dynamic mixed-use development. The property's central location within Madison ensures high visibility and accessibility, making it an ideal site for a business seeking maximum exposure. While the building requires a complete renovation, its size and prime location significantly outweigh this factor, presenting an unparalleled investment opportunity. The flexible layout allows for creative adaptation to suit various business models, potentially creating a combination of income-generating streams. This property is priced competitively at $189,500, making it an attractive proposition for investors seeking a high-return project with substantial upside potential. Don't miss this chance to acquire a landmark property in a thriving downtown area. The possibilities are truly limitless.

• CAP approach

  CAP return

  Valuation

  6%

  $3,174,798

  6.5%

  $2,930,582

  7%

  $2,721,255

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,038,870

  Geo Method

  $2,038,870

• Alternative Use

  Use

  Valuation

  Residential

  $2,472,056

  Hospitality

  $2,264,390

  Educational

  $1,883,946

  Medical

  $1,948,738

  Retail

  $2,930,582

Location Insight

City

Madison

County

Madison

State

Florida

Latitude

30.4697

Longitude

-83.4136

Property Tax & Assessments

FAQs

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