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    118 YELVINGTON Road East Palatka, FL 32131

    View on Map
    For Lease
    $1,000 /Mo

    COMMERCIAL - East Palatka, FL

    Property size:
    2,220 SF
    Lot size:
    1.50 Acres
    Added:
    Aug 18, 2025
    Days on Market:
    228
    Last Refresh:
    Apr 2 at 6:06 am

    Property Features for 118 YELVINGTON Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Off Street
    Standard status
    Active
    Size
    2,220 SF
    Lot size
    1.50 Acres

    Taxes and HOA fees

    TaxYear
    2024

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1983
    Floors in Building
    1
    Roof type
    Metal

    We can help!

    Listing Contact
    CHRISTOPHER CHASE BARNES

    Listing agent CHRISTOPHER CHASE BARNES License #3442369

    Listing office COLDWELL BANKER BEN BATES INC 3400 CRILL AVENUE SUITE 1, Palatka, FL

    Listing date Aug 18, 2025

    MLS# 2104505

    Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    East Palatka Commercial Leasing Opportunity

    The Putnam County Shrine Club offers a leasing opportunity for its former 2,200-square-foot clubhouse and surrounding property. The block building has a metal roof and includes two interior rooms, one approximately 35' x 35' and another 35' x 28', along with a 12' x 18' kitchen and two bathrooms. The structure also features a 40' x 40' covered porch and a 20' x 40' canopy. The building requires updates and renovations, and the landlord is open to flexible terms, including reduced rent to offset improvement costs or a build-to-suit arrangement with an approved lease. Tenants can lease the building with approximately 0.75 - 1 acre of adjacent land, a fully fenced 0.9-acre parcel nearby, or both, depending on operational needs. The property is located across the street from the Putnam County Fairgrounds, just off of HWY 17 & State Rd 207. All lease terms are negotiable, offering prospective tenants the opportunity to tailor the arrangement to their specific requirements. The property is suitable for community use, commercial operations, or a specialized venture. The property is located in East Palatka, Florida.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy Hotel & Motel Auto Parts Store Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Palatka
    County
    Putnam
    State
    Florida
    Longitude
    -81.589113
    Latitude
    29.643965

    FAQs

    What type of property is this?
    Retail space - Former clubhouse with flexible lease terms and land options.
    Where is this retail space located?
    The property is located at 118 YELVINGTON Road East Palatka, FL.
    What is the lease rate?
    The lease rate is $1,000 /Mo.
    What are key features of this property?
    This property features: Flexible lease terms, including reduced rent for improvements or build‑to‑suit options.; Strategic location across from the Putnam County Fairgrounds, near HWY 17 & State Rd 207.; Versatile space with a **2,200 sq ft building, a 40' x 40' covered porch, and a 20' x 40' canopy.**
    (386) 385-4404
    We can help!
    Listing Contact
    CHRISTOPHER CHASE BARNES
    Real Estate License ID: 3442369
    Learn More
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    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
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