289 Range AveMadison, FL 32340

Property Details for 289 Range Ave

Year built

1925

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.27 AC

Property size (Sq ft)

15,255 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

00-00-00-3751-000-000

APU

3751000000

Description

This exceptional two-story medical office building, located at 289 SW Range Ave in Madison, Florida, presents a unique investment opportunity. Built in 1925, the property boasts a total of 15,255 square feet and is situated on a single lot (APN: 0000003751000000) in Madison County. The building currently features a medical office configuration, including exam rooms, offices, a reception area, and a breakroom. The property is comprised of multiple tenancies. Currently, there are two spaces available for lease. The first floor offers approximately 1,500 square feet of leasable space, with approximately 6,100 square feet currently occupied by Davita. The second floor offers a larger space of approximately 7,600 square feet, providing ample room for expansion or a variety of medical practices. This prime location in Madison, FL (zip code 32340) offers excellent visibility and accessibility. The property's historical charm combined with its modern medical office setup makes it an ideal investment for healthcare professionals seeking a well-established presence in a thriving community. The building's layout is adaptable to suit various medical specialties and practice sizes. This is a rare opportunity to acquire a well-maintained, historically significant medical office building in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,894,651

  6.5%

  $2,671,986

  7%

  $2,481,130

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,084,478

  Geo Method

  $1,084,478

• Alternative Use

  Use

  Valuation

  Residential

  $3,313,262

  Hospitality

  $3,034,930

  Educational

  $2,525,026

  Medical

  $2,611,866

  Retail

  $3,927,819

Location Insight

City

Madison

County

Madison

State

Florida

Latitude

30.4667

Longitude

-83.4127

Property Tax & Assessments

FAQs

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