320 Cherry StMonticello, FL 32344

Property Details for 320 Cherry St

Year built

1957

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.05 AC

Property size (Sq ft)

1,890 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

00-00-00-0360-0000-0760

APU

36000000760

Description

This exceptional 2,406 square foot commercial property, situated at 320 N Cherry Street in Monticello, Florida's vibrant downtown business district, presents a unique investment opportunity. Previously operating as a restaurant, this building boasts a highly visible street frontage within a popular and bustling area, ensuring excellent exposure to potential customers. The 0.05-acre lot provides ample space for outdoor seating or potential expansion, depending on future use. The interior layout is well-suited for a variety of food service businesses or other commercial ventures, offering a flexible space adaptable to diverse needs. The property's prime location in the heart of Monticello's commercial center guarantees high foot traffic and easy accessibility for customers. This presents a rare chance to acquire a well-positioned commercial space in a thriving downtown area. The asking price of $185,000 reflects the property's significant potential for return on investment. Serious inquiries are encouraged to explore the possibilities this property offers. The building's existing infrastructure provides a solid foundation for a new business venture, minimizing initial setup costs and allowing for a swift transition into operation. This is an ideal opportunity for entrepreneurs seeking a turnkey solution in a high-demand location.

• CAP approach

  CAP return

  Valuation

  6%

  $498,556

  6.5%

  $460,206

  7%

  $427,334

• Comparable approach

  Method

  Valuation

  Relative Method

  $208,258

  Geo Method

  $208,258

• Alternative Use

  Use

  Valuation

  Residential

  $460,206

  Hospitality

  $421,546

  Educational

  $350,721

  Medical

  $362,783

  Retail

  $545,566

Location Insight

City

Monticello

County

Jefferson

State

Florida

Latitude

30.5468

Longitude

-83.8691

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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