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    Devane St Lake City, FL 32055

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    Devane St Lake City, FL 32055

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    • Land
    • 1.07 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Devane St

    Lot size
    1.07 lot acres
    Property type
    Land

    Description

    This exceptional 1.07-acre commercial land parcel presents a remarkable opportunity for development in Lake City, Florida. Located in a prime area, this property boasts convenient access to Interstate 75/US-90, ensuring high visibility and easy accessibility for potential businesses. The lot is serviced by city water and sewer, eliminating the complexities and costs associated with establishing these essential utilities. This makes it ideal for a variety of commercial ventures, including office buildings or medical facilities. The property's size offers ample space for construction, allowing for flexibility in design and functionality. Its strategic location near major transportation routes promises significant exposure and attracts a diverse clientele. This is a rare opportunity to acquire a well-situated commercial lot in a thriving area, ready for immediate development. The address is NW Devane St, Lake City, FL 32055, within Columbia County. The asking price for this exceptional property is $100,000. Several additional lots are also available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lake City
    County
    Columbia
    State
    Florida
    Longitude
    -82.698
    Latitude
    30.1831

    Comparable in this City

    • Value Estimation by Request
      29.00 Acres

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      1.36 Acres

      Hall Of Fame Dr

      Land • 1.36 Acres
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      1.53 Acres

      Devane St

      Land • 1.53 Acres
      0 Devane St, Lake City, FL 32055
      View Details
    • Value Estimation by Request
      1.00 Acre

      Hall Of Fame Dr

      Land • 1.00 Acre
      0 Hall Of Fame Dr, Lake City, FL 32055
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    • Value Estimation by Request
      11.00 Acres

      Lake City, FL 32055

      Land • 11.00 Acres
      Lake City, FL 32055
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    • Value Estimation by Request
      168.72 Acres

      Moore Rd

      Land • 168.72 Acres
      0 Moore Rd, Lake City, FL 32055
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    Similar Nearby for Sale

    • $435,000

      Land For Sale

      Land available for purchase.
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    • $449,000
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      Lake City Commercial Land - $449K

      Prime 3.27-Acre Commercial Lot
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      Land with Frontage on US-90

      Land with frontage on US-90 and brick home.
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      Lake City Industrial Land Available

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    • $85,000
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      Lake City Buildable Lots

      Two cleared lots with utilities in Lake City, Florida.
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    Similar Nearby for Lease

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      Lake City Commercial Land Opportunity

      1.5 Acres, Highway 90 & I-75
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      2,377 SF

      Retail Space in Lake City

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      Spacious Office with Flexible Layout

      Adaptable office space suitable for diverse business applications.
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    • Contact for pricing

      Former Restaurant Building on US-90

      4,153 SF former restaurant on 1.38 acres available for rent.
      2847 W Us Highway 90, Lake City, FL 32055
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    • $10,500 /Mo
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      Retail Space on Duval Street

      Commercial unit for rent in high-traffic Duval Street corridor.
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    Devane St
    Lake City, FL 32055
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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
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