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    Property profile & analytics

    113 N Summit St Crescent City, FL 32112

    • Retail space
    • 4,680 SF
    • 0.28 lot acres
    For Sale
    View listing
    $300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3352981
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Prestige HVAC / Hvac Contractor

    Property Details for 113 N Summit St

    Year built
    1961
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.28 lot acres
    Property size
    4,680 SF
    Property type
    Retail space
    APN
    30-12-28-1750-029.0-002.3
    APU
    301228175002900023

    Description

    This exceptional 4,112 square foot freestanding retail storefront is located at 113 N Summit St, Crescent City, FL 32112, in Putnam County. Currently vacant, this property presents a compelling value-add opportunity for investors seeking to capitalize on a strong location and high traffic counts. The building enjoys a prominent position on N Summit St, with over 10,000 vehicles passing daily, ensuring excellent visibility and accessibility for future tenants. The property benefits from a substantial population base, with over 3,000 residents within a three-mile radius, and projected population growth of +0.37% through 2028. This indicates a stable and growing market for retail businesses. The location is strategically situated between Orlando and Jacksonville, offering convenient access to a larger regional market. Florida's income tax-free status further enhances the investment appeal. This vacant storefront provides a blank canvas for a creative investor to develop a thriving retail space, taking advantage of the high traffic volume and growing population in this desirable location. The property is available for sale or lease.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Crescent City
    County
    Putnam
    State
    Florida
    Longitude
    -81.5109
    Latitude
    29.432
    CBSA code
    37260
    CBSA name
    PALATKA, FL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,419
    $0.00
    $0.00
    $160,170
    -
    $24,390
    $135,780
    $160,170

    Comparable in this City

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      6 Smt St

      RETAIL STORES (PERSONAL SERVICES) • 1,903 SF
      6 Smt St, Crescent City, FL 32112-2506
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      3,274 SF

      310 Central Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,274 SF
      310 Central Ave, Crescent City, FL 32112-2608
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      498 SF

      121 Main St

      RETAIL STORES (PERSONAL SERVICES) • 498 SF
      121 Main St, Crescent City, FL 32112-2525
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    • Value Estimation
      $1,695,000
      7,898 SF

      701 Smt St

      RETAIL STORES (PERSONAL SERVICES) • 7,898 SF
      701 Smt St, Crescent City, FL 32112-2145
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    • Value Estimation by Request
      2,980 SF

      2110 Us Hwy 17

      RETAIL STORES (PERSONAL SERVICES) • 2,980 SF
      2110 Us Hwy 17, Crescent City, FL 32112-3902
      View Details

    Similar Nearby for Sale

    • $425,000
      7,504 SF

      Highway 17 Commercial Building

      7,500 SF commercial building on Highway 17 in Crescent City.
      111 N Summit St, Crescent City, FL 32112
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    • $300,000
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      Retail Space in Crescent City

      Freestanding retail space in Crescent City, Florida for sale.
      113 N Summit St, Crescent City, FL 32112
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    • $425,000

      Highway 17 Commercial Building

      7,500 SF commercial building on Highway 17 in Crescent City.
      111 N Summit St, Crescent City, FL 32112
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    • $195,000
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      Crescent City Commercial Opportunity

      Downtown commercial building in need of repairs, seller financing available.
      512 Central Ave, Crescent City, FL 32112
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    • $949,000
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      Downtown Crescent City Commercial Opportunity

      Former bank building with drive-through in high-traffic area.
      350 N Summit St, Crescent City, FL 32112
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    • $425,000
      7,500 SF

      Highway 17 Commercial Building

      7,500 SF mixed-use building on Highway 17 in Crescent City.
      111 N Summit St, Crescent City, FL 32112
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    Similar Nearby for Lease

    • $3,000 /Mo
      7,504 SF

      Crescent City Commercial Opportunity

      7,500 SF commercial building on Highway 17 in Crescent City.
      111 N Summit St, Crescent City, FL 32112
      View Details
    • $3,000 /Mo
      7,500 SF

      Crescent City Commercial Opportunity

      7,500 sq ft showroom/warehouse on Highway 17, Crescent City.
      111 N Summit St, Crescent City, FL 32112
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    • $48 SF/Yr
      7,502 SF

      US-17 Crescent City Commercial Space

      7,502 SF Office Building - Prime Location
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    113 N Summit St
    Crescent City, FL 32112
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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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