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    656 State Road 20 Palatka, FL 32177

    Sponsored
    For Sale
    $329,900

    SINGLE_FAMILY - Palatka, FL

    Type:Office
    Property size:
    1,528 SF
    Lot size:
    2.00 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 23 at 12:06 am

    Property Features for 656 State Road 20

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    APN
    161025000004700000
    Parking features
    Garage
    Size
    1,528 SF
    Lot size
    2.00 Acres

    Utilities

    Sewer type
    Septic Tank

    Building Details

    Year built
    1935
    Roof type
    Metal

    We can help!

    Listing Contact
    MEICHELLE BUCK
    MEICHELLE BUCK

    Team Mcclure Realty (386) 972-5151 [email protected]

    Listing agent MEICHELLE BUCK (386) 972-5151

    Listing date Jan 19, 2026

    Copyright © 2026 Northeast Florida Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Palatka Residential-Commercial Property on 2 Acres

    This transformed property, situated on two parcels totaling approximately 2 acres, offers both residential comfort and commercial utility with highway frontage on State Road 20. The property includes a 2-bedroom home with a connected 550 square foot area suitable for a master suite or a home-based business. The home features updated electrical wiring, new plumbing, new flooring, a new water heater, and new appliances, as well as a new metal roof. A detached 694 square foot garage provides additional storage or workshop space. Possible private financing is available with $100,000 down.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Map

    City
    Palatka
    County
    Putnam
    State
    Florida
    Longitude
    -81.804268
    Latitude
    29.628288

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    FAQs

    What type of property is this?
    Mixed-use property - 2-acre property with residential and commercial potential on State Road 20.
    Where is this mixed-use property located?
    The property is located at 656 State Road 20 Palatka, FL.
    What is the asking price?
    The asking price for this property is $329,900.
    What are key features of this property?
    This property features: - 2-acre property with highway frontage, suitable for residential or commercial use.; - **2-bedroom home with a 550 sq ft connected area, ideal for a master suite or home-based business.**; - **Completely renovated: new wiring, plumbing, flooring, water heater, appliances, and metal roof.**
    (386) 972-5151
    Request Owner's contact information
    656 State Road 20 Palatka, FL 32177
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    Palatka, FL 32177
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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
    656 State Road 20 Palatka, FL 32177
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    We can help!
    Listing Contact
    MEICHELLE BUCK
    MEICHELLE BUCK
    Real Estate License ID: 3041596
    (386) 972-5151
    Learn more
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