Multifamily Portfolio With
For Sale
$2,499,000
100 Pilothouse Ct, Palatka, FL 32177
Seven buildings combine residential rentals with an office-equipped commercial facility and pond-front surroundings.
Property Size11,839 SF
Price / SF$211.08
Days on Market131
Property Features for 100 Pilothouse Ct
General Information
Standard status
Active
Size
11,839 SF
Taxes and HOA fees
Annual Taxes
$27,366
Listing Agency:
ENDLESS SUMMER REALTY
(904) 947-0040
Listed By:
KURT BOGART
(904) 947-0040
Source:
Exprealty
Added: Apr 14
Changed: Aug 21
Last Checked: Aug 22 at 9:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ENDLESS SUMMER REALTY
Investment Insights
Based on property information with market context.
This multifamily income property includes seven buildings and 11 rentable units across three single-family homes, one triplex, and two duplexes. The residential component is paired with a 5,500-square-foot warehouse that includes integrated office space, creating a mixed residential and commercial configuration. The portfolio also records 3,650 rentable nights annually, with reported occupancy ranging from 55% to 65%.
The property is located at 100 Pilothouse Ct in Palatka, Florida, directly across from St. Johns Ship Building and beside a private pond. Two long-term leases form part of the income mix, while the residential buildings support short-term rental operations. The warehouse may accommodate owner-operator use, storage, or commercial occupancy, while any conversion or specialized use remains subject to zoning and approvals.
The property is located at 100 Pilothouse Ct in Palatka, Florida, directly across from St. Johns Ship Building and beside a private pond. Two long-term leases form part of the income mix, while the residential buildings support short-term rental operations. The warehouse may accommodate owner-operator use, storage, or commercial occupancy, while any conversion or specialized use remains subject to zoning and approvals.
Key Highlights
- Seven‑building multifamily portfolio with 11 rentable units
- Unit mix includes 3 single‑family homes, 1 triplex, and 2 duplexes
- 5,500‑square‑foot warehouse with integrated office space
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
$164,913
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
6.60%
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%
$3,298,260
$3.3M
Cap Rate 7%
$2,355,900
$2.4M
Cap Rate 9%
$1,832,367
$1.8M
Market Conditions
NOI Build-Up for 11,839 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
$203.2K $17.16/SF
− Vacancy
−$9.1K −$0.77/SF
EGI
$194.0K $16.39/SF
− OpEx
−$29.1K −$2.46/SF
NOI
$164.9K $13.93/SF
Area
Putnam County, FL
Vacancy
4.50%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
15.00%
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%
$3,298,260
Cap Rate 7%
$2,355,900
Cap Rate 9%
$1,832,367
Alternative Uses
Best Use
Warehouse
$2.36M
$2.06M – $2.75M
NOI $164,913 @ 7.0% cap · market cap 6.60%
Second Best
Multifamily LT 5
$1.39M
$1.22M – $1.63M
NOI $97,633 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$3.08M
$2.70M – $3.60M
NOI $215,824 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Seven buildings combine residential rentals with an office-equipped commercial facility and pond-front surroundings.
Where is this multifamily property located?
The property is located at 100 Pilothouse Ct Palatka, FL.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Seven‑building multifamily portfolio with 11 rentable units; Unit mix includes 3 single‑family homes, 1 triplex, and 2 duplexes; 5,500‑square‑foot warehouse with integrated office space
