180 Cherry StMonticello, FL 32344

Property Details for 180 Cherry St

Year built

1999

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

4,214 SF

Property type

Retail properties

Property subtype

Retail space

APN

00-00-00-0360-0000-0122

APU

36000000122

Description

This exceptional investment opportunity presents a five-unit office building located at 180 S Cherry Street in Monticello, Florida. The property boasts a total of 4,214 square feet situated on a 0.01-acre lot. The building features five individual office spaces, conveniently connected by a breezeway, offering both privacy and accessibility. Two shared bathrooms cater to the tenants, while one unit enjoys the added convenience of a private bathroom. Ample parking is available, with street parking directly in front of the building supplemented by access to a nearby city parking lot. Currently, three of the five units are leased, generating an approximate monthly rental income of $1700. The owner currently occupies two of the units. Each office space is equipped with individual window air conditioning units for climate control. This property presents a solid investment opportunity with existing rental income and potential for future growth. The asking price is $425,000. This is a turnkey operation ideal for an investor seeking a stable, income-producing asset in a convenient Monticello location. The existing tenant base provides immediate cash flow, minimizing vacancy risk. The property's layout and amenities make it attractive to a variety of professional tenants. This is a rare opportunity to acquire a well-maintained, income-generating commercial property in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,317,593

  6.5%

  $1,216,240

  7%

  $1,129,365

• Comparable approach

  Method

  Valuation

  Relative Method

  $754,925

  Geo Method

  $754,925

• Alternative Use

  Use

  Valuation

  Residential

  $1,025,944

  Hospitality

  $939,759

  Educational

  $781,868

  Medical

  $808,758

  Retail

  $1,216,240

Location Insight

City

Monticello

County

Jefferson

State

Florida

Latitude

30.5447

Longitude

-83.869

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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