203 E 3rd St

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203 E 3rd St

Sanford, FL 32771
Asking Price
$1.50M
Asset Type
Land
Class
Class B

What's Special

Situated at 203 E 3rd St, this vacant land parcel is located in the historic downtown core of Sanford, Florida. The site sits two blocks south of First Street, the city’s primary commercial corridor, and is within walking distance of the Lake Monroe waterfront. The neighborhood features a mix of historic architecture, local dining, and administrative offices. Accessibility is provided via nearby U.S. Highway 17-92 and the Sanford SunRail station, which is located approximately one mile to the west. This property is zoned for urban development, making it suitable for professional office space, boutique retail, or a multi-family residential project. Given its central location, the site is ideal for developers seeking to serve the growing residential population or local professional services firms, such as legal or architectural practices, requiring proximity to the Seminole County Courthouse.

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NOI
$80,000
Cap Rate
5.35%
DSCR
0.90
Underwater
Cash-on-Cash
-1.95%
Monthly Payment
$7,396.444
Annual Cash Flow
$-8,757.332

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