Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    673 3RD Avenue Welaka, FL 32189

    View on Map
    Claim this Listing
    For Sale
    $220,000

    COMMERCIAL - Welaka, FL

    Property size:
    1,419 SF
    Lot size:
    0.29 Acres
    Added:
    May 13, 2025
    Days on Market:
    334
    Last Refresh:
    Apr 11 at 7:06 pm

    Property Features for 673 3RD Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    411226920001800030
    Size
    1,419 SF
    Lot size
    0.29 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1726

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    STEPHANIA KENNEDY
    STEPHANIA KENNEDY

    Listing agent STEPHANIA KENNEDY License #3373610

    Listing office ST JOHNS REALTY AND MANAGEMENT LLC 220 N Summit St, Crescent City, FL

    Listing date May 13, 2025

    MLS# 2087380

    Copyright © 2026 Northeast Florida Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Versatile Commercial Property in Welaka, FL

    This commercial property in Welaka, Florida, presents an investment opportunity with potential for entrepreneurs, investors, or business owners seeking a strategic location. Zoned for commercial use, the property offers opportunities for expansion and customization. The building has two sections: side 'A', the larger side, and side 'B', which is smaller and has potential to be another office space or an Airbnb. The remodeled side features an open concept waiting room, an employee kitchen area, two enclosed rooms, and one bathroom. The smaller, unfinished side allows future business owners to add their personal touch, while the remodeled side is turnkey ready. The property size is 1419 square feet, situated on a 0.29-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bernadito Prudencio Pediatrician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Welaka
    County
    Putnam
    State
    Florida
    Longitude
    -81.672174
    Latitude
    29.481634

    Nearby Similar for Sale

    • $120,000

      Waterfront RV Resort Lot

      Waterfront lot in Welaka, Florida with community amenities.
      1074 FRONT STREET, WELAKA, FL 32193
      View Details
    • $159,000
      2,008 SF

      Commercial Property in Growing Welaka

      Versatile commercial property with high potential in Welaka, Florida.
      1011 ELM Street, Welaka, FL 32193
      View Details

    FAQs

    What type of property is this?
    Office units - Investment property with potential for office space or Airbnb.
    Where is this office units located?
    The property is located at 673 3RD Avenue Welaka, FL.
    What is the asking price?
    The asking price for this property is $220,000.
    What are key features of this property?
    This property features: Versatile commercial property with two distinct sections ('A' and 'B') offering multiple business possibilities.; Zoned for commercial use, providing opportunities for expansion and customization.; Remodeled section is turnkey ready, allowing for immediate business operations.
    (386) 937-0075
    We can help!
    Listing Contact
    STEPHANIA KENNEDY
    STEPHANIA KENNEDY
    Real Estate License ID: 3373610
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!