697 Anderson RdGroveland, FL 34736

Property Details for 697 Anderson Rd

Year built

1987

Construction

WOOD FRAME

Lot size

0.44 AC

Property size (Sq ft)

1,657 SF

Property type

Retail properties

Property subtype

Retail space

APN

24-22-24-1100-116-00600

APU

242224110011600600

Description

This exceptional owner-user retail property, located at 697 Anderson Rd, Groveland, FL 34736, presents a compelling investment opportunity in one of Florida's fastest-growing cities. The 1,161 square foot free-standing building sits on a 0.44-acre lot and boasts a prime location on Highway 33 South, less than half a mile from Highway 50, ensuring high visibility and accessibility. Built in 1987 and extensively renovated in 2021, the property features fresh pavement, new paint, and attractive landscaping. The C-2 zoning allows for a variety of commercial uses. The building's asking price is $428,000, translating to $368.65 per square foot. Groveland's remarkable population growth of 88.4% over the past decade, coupled with its strategic location in the path of westward expansion from Orlando, makes this a rare opportunity to capitalize on a thriving market. Highway 50's daily traffic count of 30,000 vehicles further underscores the property's exceptional potential. The property's single-story design and ample lot size offer flexibility for future expansion or development. This is an ideal investment for owner-users seeking a well-maintained, high-visibility location in a rapidly expanding market. The property's APN is 2813202.

• CAP approach

  CAP return

  Valuation

  6%

  $671,512

  6.5%

  $619,858

  7%

  $575,582

• Comparable approach

  Method

  Valuation

  Relative Method

  $815,779

  Geo Method

  $655,701

• Alternative Use

  Use

  Valuation

  Residential

  $522,873

  Hospitality

  $478,949

  Educational

  $398,480

  Medical

  $412,184

  Retail

  $619,858

Location Insight

City

Groveland

County

Lake

State

Florida

Latitude

28.5511

Longitude

-81.852

CBSA code

36740

CBSA name

ORLANDO-KISSIMMEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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