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

    118 Main St Perry, FL 32347-2656

    • Medical offices
    • 6,080 SF
    • 0.37 lot acres
    OFF-MARKET
    Last Sale
    Nov 02, 2021
    $1,058,000
    Value Estimations
    $1,075,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4434127
    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

    • DaVita Perry Dialysis / Dialysis Center / Local Medical Services
    • Taylor County Historical Society / Association / Organization / Local History Museum

    Property Details for 118 Main St

    Year built
    1947
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.37 lot acres
    Property size
    6,080 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    24-04-07-03858-000
    APU
    24040703858000

    Description

    This exceptional 6,080 square foot medical office building, located at 118 W Main St in Perry, Florida, presents a unique leasing opportunity. The single-tenant property, built in 1947 and classified as Class C, offers a completely vacant space ready for immediate occupancy. The building's layout is versatile and designed to accommodate the needs of medical professionals. Abundant natural light and modern amenities contribute to a comfortable and efficient workspace. The property's central location in Perry, within Taylor County (APN 03858-000), ensures high visibility and easy access for patients and staff. Its strategic placement provides proximity to various amenities, enhancing convenience and accessibility. This property is ideal for a medical practice, clinic, or healthcare service provider seeking a functional and strategically located space to establish or expand their business. The property's zip code is 32347. This is a chance to secure a well-positioned medical office building in a growing community. The entire building is available for lease. The property offers a significant opportunity for a medical business to thrive in a convenient and visible location. This is a rare opportunity to lease a fully vacant, single-tenant building in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,105,000
      ML approach
      $1,085,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,095,000
      RESTAURANT
      $825,000
      RETAIL STORES
      $785,000
      OFFICE BUILDING
      $755,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Perry
    County
    Taylor
    State
    Florida
    Longitude
    -83.5827
    Latitude
    30.1182

    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
    $7,005
    $16,100
    $622,250
    $638,350
    -
    $16,100
    $622,250
    $638,350

    Comparable in this City

    • Value Estimation
      $580,000
      13,440 SF

      803 Main St

      MEDICAL BUILDING • 13,440 SF
      803 Main St, Perry, FL 32347-2612
      View Details
    • Value Estimation by Request
      2,323 SF

      1218 Peacock Ave

      MEDICAL BUILDING • 2,323 SF
      1218 Peacock Ave, Perry, FL 32347-2117
      View Details
    • Value Estimation by Request
      1,940 SF

      601 Jefferson St

      MEDICAL BUILDING • 1,940 SF
      601 Jefferson St, Perry, FL 32347-4114
      View Details
    • Value Estimation
      $635,000
      13,269 SF

      315 Ash St

      MEDICAL BUILDING • 13,269 SF
      315 Ash St, Perry, FL 32347-2029
      View Details
    • Value Estimation by Request
      1,194 SF

      423 Ash St

      MEDICAL BUILDING • 1,194 SF
      423 Ash St, Perry, FL 32347-2100
      View Details
    • Value Estimation by Request
      3,793 SF

      1211 Ctr St

      MEDICAL BUILDING • 3,793 SF
      1211 Ctr St, Perry, FL 32347-2037
      View Details

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    118 Main St
    Perry, FL 32347-2656
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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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