Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    637 State Rd 47 Lake City, FL 32025-0452

    • Retail properties
    • 1,968 SF
    • 1.16 lot acres
    OFF-MARKET
    Last Sale
    Aug 05, 2021
    $490,000
    Value Estimations
    $480,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1776660
    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.

    Current Use by Public Records

    • Retail properties

    Property Details for 637 State Rd 47

    Year built
    1991
    Construction
    FRAME
    Lot size
    1.16 lot acres
    Property size
    1,968 SF
    Property type
    Retail properties
    APN
    07-4S-17-08127-002
    APU
    074S1708127002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $480,000
      ML approach
      $510,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake City
    County
    Columbia
    State
    Florida
    Longitude
    -82.6438
    Latitude
    30.1625
    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
    $9,356
    $126,322
    $252,225
    $378,547
    -
    $126,322
    $252,225
    $378,547

    Comparable in this City

    • Value Estimation
      $240,000
      4,992 SF

      113 Nassau St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 4,992 SF
      113 Nassau St, Lake City, FL 32025-4317
      View Details
    • Value Estimation by Request
      7.89 Acres

      Us Highway 90

      Land • 7.89 Acres
      0 Us Highway 90, Lake City, FL 32025
      View Details
    • Value Estimation
      $265,000
      1,400 SF

      Lake

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,400 SF
      Lake, City, FL 32025
      View Details
    • Value Estimation
      $300,000
      3,642 SF

      1694 County Rd 252

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,642 SF
      1694 County Rd 252, Lake City, FL 32025-1707
      View Details
    • Value Estimation
      $265,000
      2,520 SF

      152 Montgomery Dr

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,520 SF
      152 Montgomery Dr, Lake City, FL 32025-5839
      View Details
    • Value Estimation by Request

      2941 Us Highway 90

      Medical offices
      2941 Us Highway 90, Lake City, FL 32025
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.60 Acres

      Lake City Commercial Land

      0.6-Acre Retail Outlot, High Traffic
      215 Home Depot Dr, Lake City, FL 32025
      View Details
    • $595,000
      3,168 SF

      Lake City Mixed-Use Commercial Building

      Highway 41 Frontage, 3168 SF, $595,000
      2832 Main Blvd, Lake City, FL 32025
      View Details
    • $1,250,000
      7.89 Acres

      Lake City Commercial Land

      Prime 7.89-acre Hwy 90 site
      0 Us Highway 90, Lake City, FL 32025
      View Details
    • $2,356,000

      Sonic Leased Property For Sale

      NNN leased Sonic property with drive-thru and long-term tenant.
      1333 SW Main Blvd, Lake City, FL 32025
      View Details
    • $1,282,560
      8,500 SF

      Free-Standing Retail Building For Sale

      8,500 SF retail building in high-traffic Lake City, FL.
      3118 Southwest Main Blvd, Lake City, FL 32025
      View Details
    • $800,000
      0.90 Acres

      Lake City Car Wash - Prime Location

      Profitable Car Wash Business, High Traffic Area
      900 Real Ter, Lake City, FL 32025
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      6,566 SF

      Lake City Office Space Available

      Prime Retail/Office Space in Lake City, FL
      2941 Us Highway 90, Lake City, FL 32025
      View Details
    • $8 SF/Yr
      5,500 SF

      Lake City Plaza Medical Offices

      Prime Medical Office Suites Available
      879 Main Blvd, Lake City, FL 32025
      View Details
    • Contact for pricing
      1,801 SF

      Updated Office Condo For Rent

      Updated office condo with modern finishes, ideal for medical use.
      1140 SW Bascom Norris Dr, Lake City, FL 32025
      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.
    637 State Rd 47
    Lake City, FL 32025-0452
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.