Commercial Sale · Mixed Use
398 S MARION AVENUE, LAKE CITY, FL, 32025
Active39 days on marketListed Aug 12, 2026MLS #GC542575
About this property
The property at a glance
HISTORIC COMMERCIAL PROPERTY WITH ENDLESS POSSIBILITIES! Bring your vision to 398 S Marion Avenue in downtown Lake City! This beautifully restored 1926 property combines historic charm, modern improvements, and Commercial General zoning, creating an exciting opportunity for an investor, entrepreneur, or business owner. Potential uses include professional offices, boutique business space, Airbnb, bed and breakfast, or other commercial ventures, subject to applicable approvals and licensing. The two-story main building offers approximately 2,079 heated sf, beautiful hardwood floors, 9+ foot ceilings, original architectural details, an inviting covered front porch, updated electrical and plumbing, a 2020 roof, updated insulation, & numerous additional improvements. A separate carriage house with 2-car parking and a 1-bedroom, 1-bath apartment upstairs adds even more flexibility and potential. Located near the heart of downtown Lake City with convenient access to businesses, restaurants, shopping, and government offices, this is much more than a building—it's an opportunity to create something truly special.
2,673
Building sq ft
$133
Price / sq ft
0.32
Lot acres
1926
Year built
2
Buildings
Mixed Use
Property type
The numbers
Investment snapshot
Income and lease details aren’t published in the MLS for this listing. Ask for the offering memorandum and rent roll to run cap rate, NOI and cash-on-cash.
Estimated payment (illustrative)
Estimated payment
$1,956/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask Solance to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
23,268
Population
$47,074
Median income
39.5
Median age
2.35
Avg household
$184,900
Median home value
$943/mo
Median rent
2,322
Households w/ kids
Recent sales
What actually sold near 398 S MARION AVENUE
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$385,000
1100 N MARION AVENUE
Sold Jun 4, 2025
$600,000
1115 W US HIGHWAY 90
2,666 sqft · $225/sqft · Sold Jan 7, 2025
$824,600
260 S MARION AVENUE
14,195 sqft · $58/sqft · Sold May 29, 2026
Your team
The pros in your corner
Your agent
Solance Kallendorf
REALTOR® · CENTURY 21 Edge
Tours, offers, and every question about 398 S MARION AVENUE — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 398 S MARION AVENUE.
See it in person
Schedule a tour
Live availability from Solance's calendar — pick a time and it's booked.
Listing courtesy of BOSSHARDT REALTY SERVICES LLC · Kristine Wendig. MLS #GC542575.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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