Commercial Property with
For Sale
$249,900
1011 S Palm Ave, Palatka, FL 32177
Commercial property featuring ample parking and updated septic system.
Property Size1,080 SF
Days on Market145
Property Features for 1011 S Palm Ave
General Information
Standard status
Active
Size
1,080 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,005
Building Details
Building Size
1,080 SF
Year Built
1956
Listed By:
Christopher Lawhon · License #3218633
(561) 379-2313
Source:
Elliman
Added: Apr 21
Changed: Sep 5
Last Checked: Sep 12 at 7:49AM
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 Christopher Lawhon
Investment Insights
Based on property information with market context.
This property, zoned C2 Light Commercial, features a charming 3-bedroom, 1-bath home suitable for commercial office use. The interior includes wood ceilings, tile, and wood floors. It has updated windows and frames, along with an updated 1,000-gallon concrete septic tank and drain field. An oversized 125 x 40 concrete driveway provides ample parking space suitable for campers, boats, or vehicle parking. The property is located in an area with a bike score of 59, indicating it is bikeable, and a walk score of 53, indicating it is somewhat walkable. This property presents a business opportunity.
Key Highlights
- Zoned C2 Light Commercial: Rare opportunity to operate a business from the property
- Oversized 125 X 40 Concrete Driveway: Ample parking for multiple vehicles, campers, or boats
- Updated Windows and Frames: Enhances energy efficiency and aesthetics
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
$14,052
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
5.62%
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%
$281,040
$281.0K
Cap Rate 7%
$200,743
$200.7K
Cap Rate 9%
$156,133
$156.1K
Market Conditions
NOI Build-Up for 1,080 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
$23.7K $21.96/SF
− Vacancy
−$5.0K −$4.61/SF
EGI
$18.7K $17.35/SF
− OpEx
−$4.7K −$4.34/SF
NOI
$14.1K $13.01/SF
Area
Putnam County, FL
Vacancy
21.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$281,040
Cap Rate 7%
$200,743
Cap Rate 9%
$156,133
Alternative Uses
Best Use
Office B
$200.7K
$175.7K – $234.2K
NOI $14,052 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.3K
$246.1K – $328.1K
NOI $19,688 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
381
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial property featuring ample parking and updated septic system.
Where is this commercial land located?
The property is located at 1011 S Palm Ave Palatka, FL.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Zoned C2 Light Commercial: Rare opportunity to operate a business from the property; Oversized 125 X 40 Concrete Driveway: Ample parking for multiple vehicles, campers, or boats; Updated Windows and Frames: Enhances energy efficiency and aesthetics
