Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    879 Main Blvd Lake City, FL 32025
    Back to Search
    Property profile & analytics

    879 Main Blvd, Lake City, FL 32025

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bealls Outlet - Lake City Plaza / Discount Store / Clothing & Fashion Store
    • Simmonswilstore / Clothing Store
    • bealls / Clothing & Fashion Store

    Property Details for 879 Main Blvd

    Year built
    1961
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    Lake City Plaza offers exceptional medical office space in a thriving retail center. This multi-tenant property boasts three single-story buildings totaling 5,500 square feet of immediately available space, divisible into units of at least 2,000 square feet, with a maximum contiguous space of 3,500 square feet. Built in 1961, the property is conveniently located off Main Boulevard, enjoying high visibility and traffic flow. The plaza benefits from strong co-tenancy with established national brands such as Bealls, Hungry Howies, and Dollar General, ensuring a steady stream of foot traffic. Its proximity to the VA Medical Center further enhances its appeal to medical professionals. The property features no elevators, and the address is identified by APN 05-4S-17-14241-000 in Columbia County. This presents a unique opportunity for medical practices seeking established visibility and a strong patient base. The flexible space allows for customization to suit various medical specialties. The high-traffic location and presence of national retailers create a synergistic environment, promising significant potential for growth and success. Contact us today to explore this exceptional opportunity.

    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
    -82.6382
    Latitude
    30.1779

    Comparable in this City

    • Value Estimation by Request

      2941 Us Highway 90

      Medical Office Space
      2941 Us Highway 90, Lake City, FL 32025
      View Details
    • Value Estimation by Request
      1,152 SF

      Baya Dr

      Office Units
      0 Baya Dr, Lake City, FL 32025
      View Details
    • Value Estimation
      $615,000
      7,530 SF

      1283 State Rd 47

      MEDICAL BUILDING
      1283 State Rd 47, Lake City, FL 32025-0489
      View Details
    • Value Estimation by Request
      6,255 SF

      1680 Newland Way

      MEDICAL BUILDING
      1680 Newland Way, Lake City, FL 32025-6916
      View Details
    • Value Estimation
      $865,000
      5,174 SF

      438 Perimeter Gln

      MEDICAL BUILDING
      438 Perimeter Gln, Lake City, FL 32025-0497
      View Details
    • Value Estimation by Request
      4,139 SF

      701 State Rd 47

      MEDICAL BUILDING
      701 State Rd 47, Lake City, FL 32025-0453
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,500 SF

      Free-Standing Retail Building For Sale

      8,500 SF retail building in high-traffic Lake City, FL.
      3118 Southwest Main Blvd, Lake City, FL 32025
      View Details
    • $295,000
      1,208 SF

      Lake City Professional Office

      Commercial office building with reception, exam rooms, and bathroom.
      1166 SW Main Blvd, Lake City, FL 32025
      View Details
    • $198,654
      1,529 SF

      Lake City Office Space Available

      Professional office space with multiple offices, conference room, and kitchen.
      654 Baya Dr, Lake City, FL 32025
      View Details
    • $610,000
      3,168 SF

      Highway Frontage Commercial Property

      3,168 sq ft commercial property on 1.501 acres.
      2832 SW Main Blvd, Lake City, FL 32025
      View Details
    • Contact for pricing
      1,618 SF

      Charming Commercial Property Near Downtown

      1920s building with upgrades, suitable for office or mixed-use.
      412 South Marion Ave, Lake City, FL 32025
      View Details
    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.
    879 Main Blvd
    Lake City, FL 32025
    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
    879 Main Blvd, Lake City, FL, 32025
    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!