Mixed-Use Property with Hair
For Sale
$399,900
6120 CRILL Avenue, Palatka, FL 32177
Commercial Sale, Palatka, FL
Property Size1,339 SF
Lot Size1.83 Acres
Price / SF$298.66
Days on Market1764
Property Features for 6120 CRILL Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Irregular Lot
Directions
From intersection of SR 19 & Crill Ave, go west on Crill Ave, to property on right - past College Rd.
Subdivision
561-Greater Palatka
Standard status
Active
APN
101026000000800000
Size
1,339 SF
Lot size
1.83 Acres
Utilities
Sewer type
Septic Tank
Heating system
Central
Water source
Well
Building Details
Year built
1960
Building materials
Concrete
Roof type
Metal
Listing Agency:
COLDWELL BANKER BEN BATES INC · Coldwell Banker Real Estate
(386) 328-6716
Listed By:
BEN BATES · License #0475517
(386) 328-6716
Added: Nov 1, 2021
Changed: Aug 28
Last Checked: Aug 30 at 5:06PM
MLS# 1139187
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.
Investment Insights
Based on property information with market context.
This mixed-use offering includes a 1,339-square-foot commercial building currently used as a hair salon, together with a nearby 3BR/1BA concrete-block home at 6126 Crill Ave. The commercial property at 6120 Crill Avenue was built in 1960 and features a metal roof, central heating, well water, and septic service. The 1.83-acre parcel also includes multiple access points from the roadway.
Positioned along a heavily traveled four-lane highway in Palatka, the property is near the hospital and opposite a proposed apartment complex. The combination of commercial space and a separate residence creates a mixed-use configuration within the same offering.
Positioned along a heavily traveled four-lane highway in Palatka, the property is near the hospital and opposite a proposed apartment complex. The combination of commercial space and a separate residence creates a mixed-use configuration within the same offering.
Key Highlights
- 1.83‑acre mixed‑use property in Palatka
- 1,339‑square‑foot commercial building currently operated as a hair salon
- Includes a 3BR/1BA concrete‑block residence at 6126 Crill Ave
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,493
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$269,860
$269.9K
Cap Rate 7%
$192,757
$192.8K
Cap Rate 9%
$149,922
$149.9K
Market Conditions
NOI Build-Up for 1,339 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.4K $15.96/SF
− Vacancy
−$2.1K −$1.56/SF
EGI
$19.3K $14.40/SF
− OpEx
−$5.8K −$4.32/SF
NOI
$13.5K $10.08/SF
Area
Putnam County, FL
Vacancy
9.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$269,860
Cap Rate 7%
$192,757
Cap Rate 9%
$149,922
Alternative Uses
Best Use
Retail
$192.8K
$168.7K – $224.9K
NOI $13,493 @ 7.0% cap · market cap 3.37%
Second Best
Mixed Use
$167.9K
$146.9K – $195.8K
NOI $11,750 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$348.7K
$305.1K – $406.8K
NOI $24,410 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
118k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 72%
Dining 12%
Shops & Services 11%
Electronics 5%
Walmart
Superstores
85,037 visits/mo
0.3 miles
Chili's Grill & Bar
Dining
14,350 visits/mo
0.4 miles
Murphy USA
Shops & Services
8,703 visits/mo
0.5 miles
Capital City Bank
Shops & Services
2,570 visits/mo
0.4 miles
AT&T
Electronics
2,328 visits/mo
0.5 miles
Demographics for 32177, FL
25,380
Population
11,549
Households
2.2
Avg Household Size
42
Median Age
13%
College-Educated
86%
High-School Grad
226.8 sq mi
ZIP Area
112
Density / Sq Mi
$47,486
Median Household Income
$35,451
Median Earnings
$940
Median Rent
$158,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The offering combines an operating salon with a neighboring three-bedroom concrete-block residence on a highway-oriented commercial parcel.
Where is this mixed-use property located?
The property is located at 6120 CRILL Avenue Palatka, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1.83‑acre mixed‑use property in Palatka; 1,339‑square‑foot commercial building currently operated as a hair salon; Includes a 3BR/1BA concrete‑block residence at 6126 Crill Ave
