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

    255 NW Commons Loop Lake City, FL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Grocery-anchored neighborhood center along US Highway 90.

    Type:RETAIL
    Property size:
    2,377 SF
    Lot size:
    10.04 Acres
    Added:
    Jan 19, 2024
    Days on Market:
    831
    Last Refresh:
    Apr 5 at 10:14 pm

    Property Features for 255 NW Commons Loop

    General Information

    Standard status
    Active
    Size
    2,377 SF
    Lot size
    10.04 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 255 NW Commons Loop Contact us

    We can help!

    Listing Contact
    Ryan Joyce
    Ryan Joyce

    Listing agent Ryan Joyce

    Listing office Kite Realty Group - Corporate

    Listing date Jan 19, 2024

    Source Moodyscre

    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 Kite Realty Group - Corporate

    Overview

    Retail Space in Lake City

    This retail space, encompassing 2,377 square feet, is located in Lake City Commons, a grocery-anchored neighborhood center. The property is situated along US Highway 90, a key east/west junction that connects Lake City to Interstate 75. The center is anchored by Publix.
    Location Intelligence

    Current Use by Public Records

    Amerigas Propane Exchange Propane Supplier Lake City Commons Shopping Center & Mall higi Physician Publix Pharmacy at Lake ... Pharmacy Primo Water Refill Big Box & Wholesale Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake City
    County
    Columbia
    State
    Florida
    Longitude
    -82.6652
    Latitude
    30.1795

    Nearby Similar for Lease

    • $5,036/Mo

      Spacious Office with Flexible Layout

      Adaptable office space suitable for diverse business applications.
      164 NW Madison Street, Lake City, FL 32055
      View Details
    • Contact for pricing

      Former Restaurant Building on US-90

      4,153 SF former restaurant on 1.38 acres available for rent.
      Lake City, FL 32055
      View Details
    • $27 SF/Yr

      Updated Office Condo For Rent

      Updated office condo with modern finishes, ideal for medical use.
      1140 SW Bascom Norris Dr, Lake City, FL
      View Details
    • $10,500/Mo

      Retail Space on Duval Street

      Commercial unit for rent in high-traffic Duval Street corridor.
      1780 E Duval St Ste 120, LAKE CITY, FL, 32055-6511
      View Details
    • $9 SF/Yr

      Retail Space in High Traffic Area

      Retail space available in a desirable, high-traffic location.
      2311 West US Highway 90, Lake City, FL
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Suites available in plaza with national tenants.
      879 SW Main Blvd, Lake City, FL 32025
      View Details

    FAQs

    What type of property is this?
    Strip mall - Grocery-anchored neighborhood center along US Highway 90.
    Where is this strip mall located?
    The property is located at 255 NW Commons Loop Lake City, FL.
    What are key features of this property?
    This property features: Grocery‑anchored neighborhood center anchored by Publix.; Situated along US Highway 90.; Critical east/west junction.
    (317) 577-5600 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ryan Joyce
    Ryan Joyce
    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!