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    The Largest CRE Database in the US with Over 1 Million Listings

    656 State Road 20 Palatka, FL 32177

    Sponsored
    For Sale
    $329,900

    COMMERCIAL - Palatka, FL

    Type:Single Family Residence
    Property size:
    1,528 SF
    Lot size:
    2.00 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 24 at 1:06 am

    Property Features for 656 State Road 20

    General Information

    Property type
    Commercial Sale
    Property subtype
    Single Family Residence
    Standard status
    Active
    Rooms
    Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1
    Bedrooms
    2
    Bathrooms
    2
    APN
    161025000004700000
    Parking features
    Garage
    Appliances
    Dishwasher, Electric Range, Electric Water Heater, Ice Maker, Refrigerator
    Size
    1,528 SF
    Lot size
    2.00 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Electric (Heating)
    Cooling system
    Electric, Multi Units
    Water source
    Well

    Building Details

    Year built
    1935
    Floors in Building
    1
    Roof type
    Metal

    We can help!

    Listing Contact
    MEICHELLE BUCK
    MEICHELLE BUCK

    Team Mcclure Realty (386) 972-5151

    Listing agent MEICHELLE BUCK (386) 972-5151

    Listing date Jan 20, 2026

    MLS# 2125946

    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 Two Acres

    This versatile property, situated on two parcels totaling approximately two acres, offers frontage on State Road 20 in Palatka, Florida. The property includes a transformed residential space suitable for commercial utility. The existing structure features a two-bedroom home with an additional connected 550 square feet area, which could serve as a master suite or a home-based business studio or professional practice. The home has been completely rewired and features new plumbing, new flooring, a new water heater, and new appliances. A detached 694 square foot garage provides additional storage or workshop space. The property has a new metal roof. The total property size is 1528 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Palatka
    County
    Putnam
    State
    Florida
    Longitude
    -81.80426
    Latitude
    29.628277

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    FAQs

    What type of property is this?
    Mixed-use property - Two-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.**; - Recently renovated with new wiring, metal roof, plumbing, flooring, water heater, and appliances.
    (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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