Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    615 Main St Lake Butler, FL 32054-1033
    Back to Search
    Property profile & analytics

    615 Main St Lake Butler, FL 32054-1033

    View on Map
    • Turn key restaurants
    • 3,767 SF
    • 0.68 lot acres
    Off-Market
    Last Sale Mar 16, 2020
    $380,000
    Property ID
    US18-4751097
    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

    • Turn key restaurants

    Property Details for 615 Main St

    Year built
    2021
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.68 lot acres
    Property size
    3,767 SF
    Property type
    Turn key restaurants
    APN
    30-05-20-11-013-0030-0
    APU
    3005201101300300

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Butler
    County
    Union
    State
    Florida
    Longitude
    -82.3445
    Latitude
    30.0236

    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
    $8,643
    $134,100
    $300,359
    $434,459
    -
    $134,100
    $300,359
    $434,459

    Comparable in this City

    • Value Estimation by Request
      1,221 SF

      Main St

      RESTAURANT • 1,221 SF
      Main St, Lake Butler, FL 32054
      View Details
    • Value Estimation by Request
      4,254 SF

      125 6th Ave

      RESTAURANT • 4,254 SF
      125 6th Ave, Lake Butler, FL 32054-1530
      View Details
    • Value Estimation by Request
      4,161 SF

      1205 Main St

      RESTAURANT • 4,161 SF
      1205 Main St, Lake Butler, FL 32054-1345
      View Details
    • Value Estimation by Request
      7,709 SF

      225 Main St

      RESTAURANT • 7,709 SF
      225 Main St, Lake Butler, FL 32054-1641
      View Details
    • Value Estimation by Request
      7,139 SF

      315 Lk Ave

      RESTAURANT • 7,139 SF
      315 Lk Ave, Lake Butler, FL 32054-1217
      View Details
    • Value Estimation by Request
      3,185 SF

      200 4th Ave

      NIGHTCLUB (COCKTAIL LOUNGE) • 3,185 SF
      200 4th Ave, Lake Butler, FL 32054-2024
      View Details

    Similar Nearby for Sale

    • $760,000
      12,603 SF

      Downtown Lake Butler Commercial Opportunity

      Former bank building with 9,000 SF interior space.
      300 W Main St, Lake Butler, FL 32054
      View Details
    • $990,000
      12,603 SF

      Spacious Commercial Building in Lake Butler

      Large building with redevelopment potential on Main Street in Lake Butler.
      300 W Main St, Lake Butler, FL 32054
      View Details
    • $700,000

      27.6 Acres on State Road

      27.6-acre property suitable for redevelopment or adaptive reuse.
      9422 Southwest State Road 121, Lake Butler, FL 32054
      View Details
    • New
      $65,000
      Pending

      2-Acre Cleared Land Parcel

      Two-acre cleared land in Union County, Florida, ideal for building.
      00 SW County Road 239, Lake Butler, FL 32054
      View Details
    • $52,500
      1.00 Acre

      Lake Butler Wooded Acreage

      Picturesque 1+ acre wooded parcel in quiet Lulu area.
      9535 NW 147Th Ter, Lake Butler, FL 32054
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    615 Main St
    Lake Butler, FL 32054-1033
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    615 Main St, Lake Butler, FL, 32054
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!