5-Unit Office
180 S Cherry St, Monticello, FL 32344
For Sale
$425,000
Individual office suites offer window air conditioning and access to street parking plus a city parking lot.
Property Size4,214 SF
Price / SF$100.85
Days on Market48
Property Features for 180 S Cherry St
General Information
Standard status
Size
Additional Details
Gross Income
Office Units
Amenities
breezeway
common bathrooms
private bath
window unit ac
Building Details
Tenancy
Owner Occupied
Listing Agency:
Kelly & Kelly Properties, Inc
Listed By:
Barry Kelly · License #308602
(850) 510-4220
Source:
Hopegainesrealestate
Added: Sep 21
Changed: Oct 26
Last Checked: Oct 7 at 5:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kelly & Kelly Properties, Inc
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Investment Insights
Based on property information with market context.
Located at 180 S Cherry St in Monticello, this 4214-square-foot office property contains five individual spaces connected by a breezeway. Each space has a window unit air conditioner, while restroom facilities include two shared bathrooms and one private bathroom serving a single unit.
Three spaces are currently rented, and the owner occupies the remaining two. Parking is available along the street, with additional spaces in the city parking lot. The configuration provides a mix of private office areas, shared circulation, and flexible restroom access within an established office setting.
Three spaces are currently rented, and the owner occupies the remaining two. Parking is available along the street, with additional spaces in the city parking lot. The configuration provides a mix of private office areas, shared circulation, and flexible restroom access within an established office setting.
Key Highlights
- 4214‑square‑foot office property with 5 individual spaces
- Breezeway connects the office spaces
- 2 common bathrooms plus 1 private bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,381
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$767,620
$767.6K
Cap Rate 7%
$548,300
$548.3K
Cap Rate 9%
$426,456
$426.5K
Market Conditions
NOI Build-Up for 4,214 SF
Gross rent
$75.9K $18.00/SF
− Vacancy
−$6.1K −$1.44/SF
EGI
$69.8K $16.56/SF
− OpEx
−$31.4K −$7.45/SF
NOI
$38.4K $9.11/SF
Area
Jefferson County, FL
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$767,620
Cap Rate 7%
$548,300
Cap Rate 9%
$426,456
Alternative Uses
Best Use
Office B
$739.6K
$647.1K – $862.8K
NOI $51,769 @ 7.0% cap · market cap 12.18%
Second Best
Apartment 5plus
$548.3K
$479.8K – $639.7K
NOI $38,381 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$1.03M
$904.0K – $1.21M
NOI $72,316 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
Explore this area
Business Placement
Demographics for 32344, FL
12,705
Population
5,988
Households
2.1
Avg Household Size
49
Median Age
21%
College-Educated
87%
High-School Grad
444.6 sq mi
ZIP Area
29
Density / Sq Mi
$52,222
Median Household Income
$37,131
Median Earnings
$776
Median Rent
$208,600
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Individual office suites offer window air conditioning and access to street parking plus a city parking lot.
Where is this office unit located?
The property is located at 180 S Cherry St Monticello, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 4214‑square‑foot office property with 5 individual spaces; Breezeway connects the office spaces; 2 common bathrooms plus 1 private bathroom
