223 3Rd StSanford, FL 32771

Property Details for 223 3Rd St

Year built

1910

Construction

WOOD FRAME

Lot size

0.64 AC

Property size (Sq ft)

2,005 SF

Property type

Retail properties

APN

25-19-30-5AG-0505-0060

APU

2519305AG05050060

Description

This exceptional 1.2-acre mixed-use property in vibrant downtown Sanford, Florida presents a unique redevelopment opportunity. Located on a main thoroughfare, the site boasts 3,760 square feet of existing building space, including a circa-1910 historic warehouse featuring nearly 2,000 square feet of covered porch—ideal for adaptive reuse, such as a microbrewery. The property comprises five parcels with frontage and access from both 3rd and 4th Streets. Zoned SC-3 Special Commercial, the site allows for a wide range of commercial uses and potentially multi-family residential development. The future land use designation, Waterfront Downtown Business District (WDBD), offers benefits including reduced setbacks, lower parking requirements, and a density allowance of up to 50 units per acre. This prime location benefits from significant commercial and residential growth, with new businesses, including restaurants and microbreweries, flourishing in the area. Note that some buildings along 3rd Street show fire damage

• CAP approach

  CAP return

  Valuation

  6%

  $501,700

  6.5%

  $463,107

  7%

  $430,028

• Comparable approach

  Method

  Valuation

  Relative Method

  $564,022

  Geo Method

  $564,022

• Alternative Use

  Use

  Valuation

  Residential

  $390,648

  Hospitality

  $357,832

  Educational

  $297,712

  Medical

  $307,951

  Retail

  $463,107

Location Insight

City

Sanford

County

Seminole

State

Florida

Latitude

28.8095

Longitude

-81.2699

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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