1251 Commercial WaySpring Hill, FL 34606

Property Details for 1251 Commercial Way

Year built

2000

Construction

METAL FRAME

Lot size

0.86 AC

Property size (Sq ft)

8,926 SF

Property type

Retail properties

Property subtype

Retail space

APN

R29-223-17-2749-00F0-0010

APU

R2922317274900F00010

Description

This exceptional offering presents a unique opportunity to acquire a thriving custom furniture manufacturing business and its accompanying real estate. Located at 1251 Commercial Way, Spring Hill, FL 34606, this property boasts a prime location on a busy thoroughfare with over 45,000 vehicles passing daily (per FDOT data). The 8,926 square foot facility, situated on a 37,677 square foot lot, was constructed in 2000 and underwent a comprehensive renovation in 2022. The building features a 1,500 square foot showroom, a designer office, and an 8,500 square foot manufacturing center, all fully operational and equipped for seamless transition of ownership. Key features include a gated rear truck entrance, two grade-level roll-up doors, three restrooms (ADA compliant), and two private offices. The property is fully air-conditioned, with new HVAC systems installed in 2023. The business itself generated $2,030,646.44 in revenue and $614,026 in Seller Discretionary Earnings (SDE) in Year 1. The asking price for the combined real estate and business is $3,750,000. The property is zoned CG and offers significant growth potential. The single-story building is ready for immediate occupancy, with possession available September 12, 2024. This is an owner-user investment opportunity not to be missed.

• CAP approach

  CAP return

  Valuation

  6%

  $2,721,280

  6.5%

  $2,511,951

  7%

  $2,332,526

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,480,586

  Geo Method

  $2,480,586

• Alternative Use

  Use

  Valuation

  Residential

  $2,118,924

  Hospitality

  $1,940,923

  Educational

  $1,614,825

  Medical

  $1,670,362

  Retail

  $2,511,951

Location Insight

City

Spring Hill

County

Hernando

State

Florida

Latitude

28.4509

Longitude

-82.6324

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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