206 Interlake BlvdLake Placid, FL 33852

  • Retail properties
  • 3,632 SF
For Sale
$525,000 View listing

Property Details for 206 Interlake Blvd

Year built
1954
Construction
FRAME
Lot size
0.13 AC
Property size (Sq ft)
3,632 SF
Zone code
C2
Property type
Retail properties
Property subtype
Retail space
APN
P-31-36-30-020-0290-0080
APU
P31363002002900080

Description

Exceptional opportunity to acquire a well-established storefront in the heart of Lake Placid, Florida. This 4,422 square foot retail property, situated on a 5,500 square foot lot at 206 E Interlake Blvd, is zoned C2 and boasts a prime location in the downtown area. Built in 1954, this single-story building currently operates as Fohbrook's Thrift & Gift Market, offering the potential for continued operation under the current business model or redevelopment to suit a variety of uses. The property benefits from high foot traffic due to its central location and proximity to popular local events, including the annual Caladium Festival attracting tens of thousands of visitors, the weekly farmer's market, and regular movie nights. The current owner is willing to sell the business's goodwill and inventory along with the real estate. Included in the sale is a valuable 2COP beer and wine license and an annual food permit, providing immediate operational advantages for a food and beverage-related business. This is a rare opportunity to own a thriving retail space in a vibrant Florida community. The asking price is $525,000.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,560,415
    6.5%
    $1,440,383
    7%
    $1,337,498
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,876,318
    Geo Method
    $1,437,239
  • Alternative Use

    Use
    Valuation
    Residential
    $1,215,017
    Hospitality
    $1,112,949
    Educational
    $925,960
    Medical
    $957,806
    Retail
    $1,440,383
206 Interlake Blvd, Lake Placid, Florida

Location Insight

City
Lake Placid
County
Highlands
State
Florida
Latitude
27.2969
Longitude
-81.3638
CBSA code
42700
CBSA name
SEBRING, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$3,979
$29,623
$212,834
$242,457
-
$29,623
$212,834
$242,457

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