503 Wade StTrenton, FL 32693

Property Details for 503 Wade St

Year built

1965

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.20 AC

Property size (Sq ft)

2,124 SF

Property type

Office buildings

APN

16-10-15-0048-0060-0000

APU

161015004800600000

Description

This 2,124 square foot commercial property in Trenton, Florida, presents a unique investment opportunity. Located on busy State Road 26, the property boasts high visibility and easy access, making it an ideal location for a variety of uses. Currently operating as a well-established dry-cleaning business, the sale includes the building, land, and all necessary equipment for seamless continuation of operations. High-quality cleaning and pressing machines are included. The property's versatility allows for diverse uses, including daycare, convenience store, storefront, executive office, or salon/barbershop. Built in 1965, this property offers significant potential for growth and profitability. Detailed financial information for the existing business is available upon request. The legal description includes all of fractional block 60 and a portion of 1st Avenue, situated between the south right-of-way line of ACL Co. and the north right-of-way line of State Road 26, as depicted on the plat of Trenton 27/359, excluding specified road right-of-way parcels (205/267, 143/248, 2000/2337, 2004/3403, 2005/7515, 2005/7517, 2011/117, 201821001045, 201921006042, 202421001718). The asking price is $379,000.

• CAP approach

  CAP return

  Valuation

  6%

  $458,678

  6.5%

  $423,395

  7%

  $393,152

• Comparable approach

  Method

  Valuation

  Relative Method

  $144,453

  Geo Method

  $144,453

• Alternative Use

  Use

  Valuation

  Residential

  $525,010

  Hospitality

  $480,906

  Educational

  $400,108

  Medical

  $413,868

  Retail

  $622,390

Location Insight

City

Trenton

County

Gilchrist

State

Florida

Latitude

29.6135

Longitude

-82.823

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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