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302 S Center St Pierson, FL 32180

Manufacturing properties Google Maps
1,176 SF 1.23 ac lot Built 1984
Individually Owned 3-yr Hold Absentee Owner
Estimated value (blended)
$185k
Range $167k – $204k (±10%)
Property ID US19-0855622

Property summary

AI-generated overview

This exceptional investment opportunity presents a thriving dual-purpose commercial property located at 302 S Center Street, Pierson, Florida. The property encompasses 2,630 square feet on a 1.23-acre lot and boasts a successful restaurant and a 24/7 self-service laundromat, ensuring consistent revenue streams. The restaurant, operating Monday-Friday from 8 AM to 8 PM, offers indoor seating for 40 and an enclosed patio for 12 additional guests. Its prime location on a busy highway attracts a steady flow of local customers and travelers. The laundromat features 18 washers and 15 dryers, with all but two units replaced four years ago. A new hot water heater was also installed four years ago. Its 24/7 operation provides a reliable income stream, serving residents of Pierson, neighboring towns, and travelers. The property benefits from its strategic location, just 20 minutes north of Deland and 30 minutes from both Ormond Beach and Ocala. Furthermore, the area is experiencing significant growth, with a large Bass Pro Shops resort under construction 20 minutes away and a new Dunkin' Donuts being built just 5 minutes south in Barberville. This development promises increased traffic and customer base, presenting significant potential for future expansion and increased profitability. This turnkey operation is ideal for both seasoned entrepreneurs and first-time business owners seeking a stable and rapidly appreciating asset in a high-growth area.

Property profile

Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1984
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 1,176 SF
Lot 1.23 ac (53,578 SF)
APN 4834-04-00-0580
UPID US19-0855622

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant
  • Production Facility

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$185k

Owner & transaction history

since 2023
Last sale
$1,000
7 recorded transactions
2023
$1,000
2019
Price N/A
2008
Price N/A
2007
Price N/A
2006
$240,000
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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