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    1518 W Us Highway 90 Lake City, FL 32055
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    1518 W Us Highway 90, Lake City, FL 32055

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    • Automotive properties
    • 10,212 SF
    • 5.13 lot acres
    For Sale
    $6,105,000
    View Listing →
    New Wawa Ground Lease For Sale
    $6,105,000
    5,919 SF

    New Wawa Ground Lease

    New 20-year absolute NNN ground lease with Wawa.

    1518 W US Hwy 90, Lake City, FL 32055
    View Listing
    Property ID
    US18-5000194
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Morgan Auto Group / Car Dealership

    Property Details for 1518 W Us Highway 90

    Year built
    1984
    Construction
    STEEL FRAME
    Lot size
    5.13 lot acres
    Zone code
    CG
    Property type
    Automotive properties
    APN
    31-3S-17-06185-000
    APU
    313S1706185000

    Description

    This exceptional 1.28-acre commercial land parcel presents a remarkable opportunity for retail development in Lake City, Florida. Strategically located at the southeast corner of Highway 90 and Sisters Welcome Road, this property boasts unparalleled visibility and accessibility. Its "CI - Commercial Intensive" zoning allows for a wide range of retail uses, making it ideal for businesses seeking a high-traffic location. The site is situated directly adjacent to a newly constructed national convenience store, ensuring a steady flow of potential customers. The property's 1.28 acres provide ample space for building construction and parking, accommodating a variety of retail concepts. Located in Columbia County, Florida, with a 32055 zip code, this property offers easy access to major transportation routes and a thriving local community. The address is 1518 W US Hwy 90, Lake City, FL. This is a single-tenancy land opportunity for a discerning investor or business owner looking to establish a strong presence in a high-growth area. Don't miss this chance to secure a prime retail location in a desirable market. The property is ready for immediate development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,300,000
      ML approach
      $3,300,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake City
    County
    Columbia
    State
    Florida
    Longitude
    -82.6569
    Latitude
    30.1818
    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
    $31,028
    $1,040,038
    $316,368
    $1,356,406
    -
    $1,040,038
    $316,368
    $1,356,406

    Comparable in this City

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      $575,000
      5.86 Acres

      3909 Us Hwy 90

      VEHICLE SALES, RENTALS
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    • Value Estimation by Request
      3,900 SF

      1728 Duval St

      VEHICLE SALES, RENTALS
      1728 Duval St, Lake City, FL 32055-3677
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    • Value Estimation
      $1,185,000
      17,080 SF

      4325 Us Hwy 90

      VEHICLE SALES, RENTALS
      4325 Us Hwy 90, Lake City, FL 32055-4877
      View Details
    • Value Estimation by Request
      2,488 SF

      4068 Us Hwy 90

      VEHICLE SALES, RENTALS
      4068 Us Hwy 90, Lake City, FL 32055-4874
      View Details
    • Value Estimation
      $2,635,000
      56,843 SF

      1232 Us Hwy 90

      VEHICLE SALES, RENTALS
      1232 Us Hwy 90, Lake City, FL 32055-3733
      View Details
    • Value Estimation by Request
      6,960 SF

      125 Jones Way

      VEHICLE SALES, RENTALS
      125 Jones Way, Lake City, FL 32055-1435
      View Details

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      Whistle Express Car Wash Investment

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      Seafood Market with Drive-Thru

      Hybrid seafood retail and QSR operation with drive-thru.
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      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
    • 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
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    Similar Nearby for Lease

    • Contact for pricing

      Former Restaurant Building on US-90

      4,153 SF former restaurant on 1.38 acres available for rent.
      Lake Dr, Lake City, FL 32055
      View Details
    • Contact for pricing
      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
    • Contact for pricing
      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
    • Contact for pricing

      Retail Space in Lake City

      Retail space available in Lake City Mall on US Hwy 90.
      2469 W Us Highway 90, Lake City, FL 32055
      View Details
    View Listing
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    Lake City, FL 32055
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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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    1518 W Us Highway 90, Lake City, FL, 32055
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