Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Multi-Office Building with Breezeway Title is generated by Realmo AI

    180 S Cherry Street, Monticello, FL 32344

    View on Map
    Claim this Listing
    For Sale
    $425,000

    COMMERCIAL - Monticello, FL

    Lot size:
    0.01 Acres
    Added:
    Apr 4, 2024
    Days on Market:
    791
    Last Refresh:
    Jun 3 at 12:06 am

    Property Features for 180 S Cherry Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    12065-00-00-00-0360-0000-0120
    Lot size
    0.01 Acres

    Utilities

    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Number of units
    5
    Flooring type
    Carpet, Concrete
    Building materials
    Block, Concrete
    Roof type
    Metal

    We can help!

    Listing Contact
    Barry Kelly
    Barry Kelly

    Listing agent Barry Kelly License #308602

    Listing office Kelly & Kelly Properties, Inc 205 W Washington St, Monticello, FL

    Listing date Apr 4, 2024

    MLS# 370572

    Copyright © 2026 Tallahassee Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5 office spaces with breezeway
    • 2 common bathrooms, including 1 unit with a private bath
    • 3 units currently rented; owner uses two spaces
    • Approx. $1,700/month current rents
    • Window unit A/C in each unit; public water
    • Construction includes block and concrete with a metal roof

    Overview

    This property consists of five office spaces arranged with a breezeway. The building offers two common bathrooms, with one unit that includes a private bath. Each office is equipped with its own window unit air conditioning, providing straightforward climate control for individual tenants.

    Access and parking are supported by street parking, with additional parking available in the city parking lot. At the time of listing, three of the office spaces are currently rented, with the owner occupying two spaces. The configuration and operating setup make it workable for an owner-operator or a buyer seeking multiple income-producing units.

    For tenants, the suite mix and on-site bathroom access can support a range of small office uses. For investors, the property’s partially leased status and separation into multiple office spaces provide an opportunity to stabilize and potentially expand revenue through leasing the remaining units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Atlas Systems, LLC Medical Transcription Service MedQuip Production Facility Simpkins Financial Group Consultant Genworth Financial Accounting Firm Jennifer Ellis, LMT Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Monticello
    County
    Jefferson
    State
    Florida
    Longitude
    -83.869043
    Latitude
    30.544662

    Nearby Similar for Sale

    • $850,000
      9,000 SF

      Monticello Warehouse with B-2 Zoning

      Warehouse with B-2 Zoning on a high visibility corner.
      765 E Washington Street, Monticello, FL 32344
      View Details
    • $275,000

      Historic Downtown Monticello Retail Opportunity

      Versatile commercial space in historic downtown Monticello, Florida.
      185 E Dogwood Street, Monticello, FL 32344
      View Details
    • $289,000

      Restored Building in Shopping District

      Restored building in Monticello's shopping district with high foot traffic.
      230 N JEFFERSON Street, Monticello, FL 32344
      View Details
    • $390,000

      Monticello Four-Unit Investment Property

      Four-unit property in Monticello, offering income and value-add potential.
      480 S JEFFERSON Street, Monticello, FL 32344
      View Details
    • $550,000

      7-Unit Residential Complex For Sale

      Well-maintained 7-unit complex near downtown Monticello, Florida.
      535 Hagan Street, Monticello, FL 32344
      View Details
    • $47,000
      1,980 SF

      Mixed-Use Commercial Property, Monticello, FL

      Mixed-use commercial property in a desirable location, Monticello, Florida.
      1235 SAGE STREET, MONTICELLO, FL 32344
      View Details
    • $349,000

      Commercial Property in Downtown Monticello

      Commercial space for sale in downtown Monticello, Florida.
      280 W Washington Street, Monticello, FL 32344
      View Details
    • $349,000

      Commercial Property in Downtown Monticello

      Commercial space with highway frontage in downtown Monticello, Florida.
      280 W Washington St, MONTICELLO, FL, 32344-1442
      View Details
    • $349,000
      7,659 SF

      Commercial Property in Downtown Monticello

      Commercial space for sale in downtown Monticello, Florida.
      280 W Washington Street Unit 280, Monticello, FL 32344
      View Details
    • $410,000
      2,311 SF

      Coopers Pond Duplex Investment

      Fully occupied duplex in Coopers Pond, Monticello, Florida.
      1496 Hampton Place 2, Monticello, FL 32344
      View Details
    • $135,000
      1,364 SF

      Office Space in High Visibility Location

      Office space featuring three offices, one bath, and full kitchen.
      1405 S Jefferson Street, MONTICELLO, FL 32344
      View Details
    • $210,028

      Established Auto Shop on Highway

      Turnkey auto shop with equipment, inventory, and extra lot.
      3085 Gamble Road, Monticello, FL 32344
      View Details

    FAQs

    What type of property is this?
    Office units - Five office suites with shared and private bathroom options, each with window A/C and off-street city parking nearby.
    Where is this office units located?
    The property is located at 180 S Cherry Street 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: 5 office spaces with breezeway; 2 common bathrooms, including 1 unit with a private bath; 3 units currently rented; owner uses two spaces
    (850) 510-4220
    We can help!
    Listing Contact
    Barry Kelly
    Barry Kelly
    Real Estate License ID: 308602
    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

    Thank You for Inquiry
    180 S Cherry Street, Monticello, FL 32344
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!