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    136 Bascom Norris Dr Lake City, FL 32055-1308

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    136 Bascom Norris Dr Lake City, FL 32055-1308

    View on Map
    • Outlet malls
    • 10,858 SF
    • 2.54 lot acres
    Off-Market
    Property ID
    US18-7089856
    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.
    Value Estimations
    $730,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Amerigas Propane Exchange / Propane Supplier
    • FedEx OnSite / Postal Service / Courier Service
    • Dollar General / Discount Store
    • Western Union / Bank / Credit Union

    Property Details for 136 Bascom Norris Dr

    Year built
    2011
    Construction
    STEEL FRAME
    Lot size
    2.54 lot acres
    Property size
    10,858 SF
    Zone code
    *CG *RSF-3
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    00-00-00-11572-000
    APU
    11572000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $675,000
      Market price range: $314k - $1.25M
      AI Estimate
      $782,000
      Market price range: $391k - $1.02M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $565,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake City
    County
    Columbia
    State
    Florida
    Longitude
    -82.6379
    Latitude
    30.2028
    CBSA code
    29380
    CBSA name
    LAKE CITY, 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
    $14,713
    $138,150
    $548,409
    $686,559
    -
    $138,150
    $548,409
    $686,559

    Comparable in this City

    • Value Estimation
      $2,065,000
      17,935 SF

      2724 Us Hwy 90

      WHOLESALE OUTLET, DISCOUNT STORE • 17,935 SF
      2724 Us Hwy 90, Lake City, FL 32055-4754
      View Details
    • Value Estimation by Request
      6,660 SF

      374 Duval St

      WHOLESALE OUTLET, DISCOUNT STORE • 6,660 SF
      374 Duval St, Lake City, FL 32055-4087
      View Details
    • Value Estimation
      $5,495,000
      131,628 SF

      3463 Bascom Norris Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 131,628 SF
      3463 Bascom Norris Dr, Lake City, FL 32055-4712
      View Details
    • Value Estimation by Request
      4,982 SF

      127 Escambia St

      WHOLESALE OUTLET, DISCOUNT STORE • 4,982 SF
      127 Escambia St, Lake City, FL 32055-0802
      View Details
    • Value Estimation
      $730,000
      9,431 SF

      1203 Duval St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,431 SF
      1203 Duval St, Lake City, FL 32055-3407
      View Details
    • Value Estimation
      $770,000
      9,230 SF

      5087 Us Hwy 90

      WHOLESALE OUTLET, DISCOUNT STORE • 9,230 SF
      5087 Us Hwy 90, Lake City, FL 32055-8191
      View Details

    Similar Nearby for Sale

    • $5,561,000
      7,671 SF

      Retail Center on Highway 90

      Fully leased retail center with strong tenants and high visibility.
      2888 W Us Highway 90, Lake City, FL 32055
      View Details
    • Contact for pricing
      3,640 SF

      Multi-Tenant Investment Property For Sale

      Multi-tenant property with restaurant and automotive businesses in Lake City.
      1100 Marion Rd, Lake City, FL 32055
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    • Contact for pricing
      25,805 SF

      Versatile Commercial Asset with Income Streams

      Multi-functional property with retail, industrial, and residential income potential.
      1524 NW Main Blvd, Lake City, FL 32055
      View Details
    • Contact for pricing
      3,640 SF

      Multi-Tenant Commercial Property For Sale

      Multi-tenant property with restaurant and automotive businesses. Investment opportunity.
      1100 N Marion Ave, Lake City, FL 32055
      View Details
    • $1,800,000
      3,607 SF

      Retail Property Near Lake City Mall

      Retail space near Walmart and Lowe's, formerly a restaurant.
      3585 NW Bascom Norris Dr, Lake City, FL 32055
      View Details
    • $2,975,000
      26,000 SF

      Versatile Commercial Asset with Airbnb Units

      Multi-functional commercial property with retail, industrial, and residential income.
      1524 NW Main Blvd, Lake City, FL 32055
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,377 SF

      Retail Space in Lake City

      Grocery-anchored neighborhood center along US Highway 90.
      255 NW Commons Loop, Lake City, FL 32055
      View Details
    • Contact for pricing

      Former Restaurant Building on US-90

      4,153 SF former restaurant on 1.38 acres available for rent.
      2847 W Us Highway 90, Lake City, FL 32055
      View Details
    • $10,500 /Mo
      800 SF

      Retail Space on Duval Street

      Commercial unit for rent in high-traffic Duval Street corridor.
      1780 E Duval St, Lake City, FL 32055
      View Details
    • $9 SF/Yr
      16,731 SF

      Retail Space in High Traffic Area

      Retail space available in a desirable, high-traffic location.
      2311 West Us Highway 90, Lake City, FL 32055
      View Details

    Property Visit Statistics

    • Visits by month
      13.7k
    • Visitors by month
      7.4k
    • Avg Time on site
      11 min
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    Lake City, FL 32055-1308
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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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