Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    27 Azalea Dr Crawfordville, FL 32327

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    27 Azalea Dr Crawfordville, FL 32327

    View on Map
    • Lifestyle centers
    • 13,000 SF
    • 2.06 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • BW's Grill / Restaurant
    • Lunar Bay Coffee Co / Cafe & Coffee Shop
    • 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 Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Crawfordville
    County
    Wakulla
    State
    Florida
    Longitude
    -84.3729
    Latitude
    30.1929

    Comparable in this City

    • Value Estimation by Request
      5,676 SF

      30 Old Palmetto Path

      Lifestyle centers • 5,676 SF
      30 Old Palmetto Path, Crawfordville, FL 32327
      View Details
    • Value Estimation
      $2,705,000
      27,332 SF

      2000 Crawfordville Hwy Ste A

      MINI-MALL • 27,332 SF
      2000 Crawfordville Hwy Ste A, Crawfordville, FL 32327-1090
      View Details
    • Value Estimation
      $1,405,000
      13,993 SF

      10 Preston Cir, Unit A

      MINI-MALL • 13,993 SF
      10 Preston Cir, Crawfordville, FL 32327-1099
      View Details
    • Value Estimation
      $930,000
      8,575 SF

      27th Azalea Drg

      MINI-MALL • 8,575 SF
      27th Azalea Drg, Crawfordville, FL 32327-2083
      View Details
    • Value Estimation
      $1,305,000
      22,567 SF

      2646 Crawfordville Hwy

      MINI-MALL • 22,567 SF
      2646 Crawfordville Hwy, Crawfordville, FL 32327-2159
      View Details
    • Value Estimation by Request
      476 SF

      380 Emmett Whaley Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 476 SF
      380 Emmett Whaley Rd, Crawfordville, FL 32327
      View Details

    Similar Nearby for Sale

    • $450,000
      5,706 SF

      Retail Property in Crawfordville, FL

      Retail property with 5706 square feet available for sale.
      1971 Woodville Hwy, Crawfordville, FL 32327
      View Details
    • $2,400,000
      17,233 SF

      Crawfordville Commercial Property For Sale

      Commercial property in an up-and-coming area, Crawfordville, Florida.
      2646 Crawfordville Hwy, Crawfordville, FL 32327
      View Details
    • Contact for pricing
      12,689 SF

      Retail Space For Sale

      Retail space with a 7.25% CAP rate.
      2580 Crawfordville Hwy, Crawfordville, FL 32327
      View Details
    • $499,900
      1.06 Acres

      Established Bait and Tackle Shop

      Turnkey bait and tackle shop with living quarters and multiple income streams.
      664 Woodville Hwy, Crawfordville, FL 32327
      View Details
    • Contact for pricing
      12,689 SF

      Crawfordville Walgreens NNN Investment Opportunity

      NNN lease Walgreens with 11.5+ years remaining in Crawfordville, FL.
      2580 Crawfordville Hwy, Crawfordville, FL 32327
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      20,391 SF

      Retail Space on Crawfordville Hwy

      Retail space with frontage on busy Crawfordville Hwy.
      2629 Crawfordville Hwy, Crawfordville, FL 32327
      View Details
    • $75,000

      Crawfordville Commercial Land for Lease

      1.78 acre commercial outparcel in high-growth Crawfordville market.
      Crawfordville Hwy, Crawfordville, FL 32327
      View Details
    • Contact for pricing
      5,372 SF

      Crawfordville Professional Office Space Available

      Professional office space for rent, across from new Publix.
      2382 Crawfordville Hwy, Crawfordville, FL 32327
      View Details
    • Contact for pricing
      75,104 SF

      Versatile Warehouse in Wakulla County

      Warehouse with power, security, and efficiency for various business operations.
      509 Commerce Blvd, Crawfordville, FL 32327
      View Details
    • Contact for pricing

      Retail Pad Site For Lease

      Retail pad site available for ground lease in Crawfordville, Florida.
      Crawfordville Hwy, Crawfordville, FL 32327
      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.
    27 Azalea Dr
    Crawfordville, FL 32327
    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!