27 Azalea Dr Crawfordville, FL 32327
- Lifestyle centers
- 13,000 SF
- 2.06 lot acres
Current Use by Public Records
- BW's Grill / American Restaurant / Family Restaurant
- Lunar Bay Coffee Co / Cafe
- Beauty nail salon crawfordville / Nail Salon
Property Details for 27 Azalea Dr
- Year built
- 2007
- Lot size
- 2.06 lot acres
- Property size
- 13,000 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This 13,000-square-foot retail shopping center in Crawfordville, Florida, presents a compelling value-add investment opportunity. Located at 27 Azalea Dr, 32327, this Class B property, built in 2007 and renovated in 2020, comprises two single-story buildings on a 2.06-acre lot. Currently operating at 77% occupancy with a gross lease structure, the property features a diverse tenant mix, including several short-term tenants paying below-market rent, offering immediate potential for income growth. A significant 4,000 square feet of vacant space, suitable for a restaurant, is available for lease or owner-occupancy. The asking price is $1,975,000, representing a 5.28% cap rate. The property benefits from rent bumps and is zoned for commercial use. With a fee simple ownership and no ground lease, this asset offers significant upside potential for savvy investors. The property's strong location in Wakulla County, Florida, combined with its current tenant base and substantial vacant space, makes it an attractive investment prospect. The remaining lease term on existing tenants is one year. This is a multi-tenant property with the potential for significant rental increases.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Crawfordville
- County
- Wakulla
- State
- Florida
- Longitude
- -84.3729
- Latitude
- 30.1929
