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Property profile & analytics
OFF-MARKET
Turn key restaurants
297 Marion Ave Lake City, FL 32055-2866
Entity Owned
28-yr Hold
Free & Clear
Property ID
US18-5318456
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,779 SF
Lot
0.14 ac (6,311 SF)
Zoning code
*C-CBD
APN
00-00-00-12632-001
UPID
US18-5318456
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Frankie's Place Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Don Houston INC · 28 yrs held
Don Houston INC
since 1997
3 recorded transactions
Zoning & alternative use
*C-CBD · Lake City, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lake City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,432
Tax year 2023
Assessed value
$189,970
Assessed 2023
Previous assessed
$182,908
+3.9% YoY
Effective rate
2.33%
On assessed value
Assessed land
$47,332
Assessed improvement
$142,638
Land market value
$47,332
Improvement market value
$142,638
Total market value
$189,970
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
8
Total area
4,779 SF
Lot
0.14 ac (6,311 SF)
Zoning code
*C-CBD
APN
00-00-00-12632-001
UPID
US18-5318456
Jurisdiction
COLUMBIA
Zoning & alternative use
*C-CBD · Lake City, FL
Zoning *C-CBD · permitted uses
*C-CBD · Lake City, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
8
Lot
0.14 ac
Current owner
From public records · entity-resolved
Don Houston INC
Entity
Free & Clear · 28 yrs held
Mailing address
PO BOX 177, BRANFORD, FL 32008-0177
Ownership since
1997
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2024
—
Our Place Pizzeria And Ristorante 2
—
Deed
related
$545,000 · Lafayette State Bank
Aug 5, 2022
—
Arica Land Norman
—
Deed
related
$575,000 · Lafayette State Bank
Sep 30, 1997
$110,000
Don Houston INC
Jones,ronald D & Lana B
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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