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    10204 SE State Road 100 Starke, FL 32091

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    For Sale
    $360,000

    Remodeled commercial property with excellent location and many upgrades.

    Lot size:
    0.68 Acres

    Property Features for 10204 SE State Road 100

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.68 Acres

    Building Details

    Year built
    1971

    We can help!

    Listing Contact
    Perry Pursell
    Perry Pursell
    Source: Elliman

    Listing Agency: Coldwell Banker M.M. Parrish Realtors Listing Agent: Perry Pursell

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Updated Commercial Property on SR 100

    This fully updated commercial property is located in an excellent location. The concrete block building has been completely remodeled and features a new standing seam metal roof with gutters. A new top-of-the-line commercial septic system, a tankless gas water heater, and an all-new well pump with new water lines, a new water softener, and new sediment, carbon, and UV filtration have been installed. Two 3-ton, network-connected window AC units cool the kitchen and washroom down to 60 degrees. The interior has been upgraded with LED lighting, commercial slip-resistant quarry tile flooring, and pre-catalyzed USDA-approved epoxy paint. The property has been functioning as a commercial kitchen and comes equipped with a new hood exhaust system and commercial range, as well as top-of-the-line refrigeration units. The building sits on over 0.5 acres of land, offering plenty of room for parking, outdoor seating, and expansion. With over 250 feet of frontage on busy SR 100, this turnkey property is suitable for commercial production, retail, or any combination of both.
    Location Intelligence

    Current Use by Public Records

    Commercial kitchens

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Starke
    County
    Bradford
    State
    Florida
    Longitude
    -82.100991
    Latitude
    29.925528

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    FAQs

    What type of property is this?
    Commercial kitchen - Remodeled commercial property with excellent location and many upgrades.
    Where is this commercial kitchen located?
    The property is located at 10204 SE State Road 100 Starke, FL.
    What is the asking price?
    The asking price for this property is $360,000.
    What are key features of this property?
    This property features: - Fully updated commercial property in excellent location with high visibility (250+ ft frontage on SR 100).; - **Turnkey commercial kitchen equipped with new hood exhaust system, commercial range, and top-of-the-line refrigeration units.**; - Completely remodeled with new standing seam metal roof, top-of-the-line commercial septic system, and tankless gas water heater.
    (352) 335-4999
    Request Owner's contact information
    10204 SE State Road 100 Starke, FL 32091
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    Starke, FL 32091
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    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
    10204 SE State Road 100 Starke, FL 32091
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    We can help!
    Listing Contact
    Perry Pursell
    Perry Pursell
    Real Estate License ID: 0518980
    (352) 335-4999 (352) 665-9731 (352) 375-1002
    Learn more
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