107 Washington StQuincy, FL 32351

Property Details for 107 Washington St

Year built

1940

Construction

FRAME

Lot size

0.11 AC

Property size (Sq ft)

6,900 SF

Property type

Medical offices

Property subtype

Medical centers

APN

3-07-2N-3W-0730-00000-0950

APU

3072N3W0730000000950

Description

This exceptional 6,600 square foot commercial property, situated on a 0.12-acre lot at 107 E Washington St in Quincy, FL, presents a remarkable investment opportunity. Currently configured as a blend of retail/office space and residential, this property boasts significant income potential. The ground floor offers approximately 5,000 square feet, ideal for a variety of uses, including medical practices (with 14 potential exam/offices, a spacious reception area, and four bathrooms). The layout is well-suited for an eye doctor, dentist, or other medical professional. A recently updated HVAC system and a durable standing seam metal roof contribute to the property's excellent condition. Ample parking is available, enhancing the property's appeal. Above the commercial space is a 1,600 square foot, two-bedroom, one-bathroom apartment with a separate entrance, currently leased for $750 per month (below market value). The property's proforma gross income is estimated at $36,000 annually. The seller is highly motivated, having recently reduced the price by $50,000. This quiet corner location offers excellent visibility and accessibility. A 24-hour notice is required for apartment showings. This property is ready for a new owner to capitalize on its considerable income-generating potential and prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $818,003

  6.5%

  $755,080

  7%

  $701,146

• Comparable approach

  Method

  Valuation

  Relative Method

  $490,521

  Geo Method

  $490,521

• Alternative Use

  Use

  Valuation

  Residential

  $936,299

  Hospitality

  $857,645

  Educational

  $713,550

  Medical

  $738,090

  Retail

  $1,109,967

Location Insight

City

Quincy

County

Gadsden

State

Florida

Latitude

30.589

Longitude

-84.5755

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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