Second-Generation
102 Phillips Dairy, Palatka, FL 32177
For Sale
New
$399,000
A dedicated takeout room and service window complement the dine-in layout.
Property Size1,574 SF
Price / SF$253.49
Days on Market4
Property Features for 102 Phillips Dairy
General Information
Standard status
Size
Property subtype
Zoning
Restaurant
Commercial Hood
Grease Trap
Equipment Included
Additional Details
Utilities to Site
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Century21 J.W. Morton Real Estate, Inc
Listed By:
Rich Fernley · License #3602811
(352) 464-2664
Source:
Elliman
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 7:26AM
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 Century21 J.W. Morton Real Estate, Inc
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Investment Insights
Based on property information with market context.
The 1,574-square-foot restaurant includes two dining areas, a host and service area, private dining or flex space, office and storage areas, a dedicated takeout room, a commercial kitchen, and two restrooms. Kitchen equipment includes a 9-foot hood with Ansul fire suppression, a gas range and oven, stainless-steel wall panels, and separate handwashing and three-compartment sinks. A block storage building has a washer and dryer with hot-water capability; public water, sewer, and natural gas serve the property.
The corner site has ±136 feet of frontage on State Road 19 and sits approximately 500 feet from a signalized intersection. 2025 FDOT data reports traffic volumes of up to 20,500 vehicles per day on the corridor. The site is in Palatka and is zoned C-1 General Commercial.
A drive-through may be added subject to conditional use approval by the City of Palatka. The rear area previously accommodated outdoor seating for ±45 patrons and may offer room for expanded parking. The property also previously supported a hair salon and barber shop alongside the restaurant.
The corner site has ±136 feet of frontage on State Road 19 and sits approximately 500 feet from a signalized intersection. 2025 FDOT data reports traffic volumes of up to 20,500 vehicles per day on the corridor. The site is in Palatka and is zoned C-1 General Commercial.
A drive-through may be added subject to conditional use approval by the City of Palatka. The rear area previously accommodated outdoor seating for ±45 patrons and may offer room for expanded parking. The property also previously supported a hair salon and barber shop alongside the restaurant.
Key Highlights
- 1,574‑square‑foot restaurant with two dining areas and private dining or flex space
- ±136 feet of frontage on State Road 19; approximately 500 feet from a signalized intersection
- 2025 FDOT traffic volumes reach up to 20,500 vehicles per day on the corridor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,458
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,160
$349.2K
Cap Rate 7%
$249,400
$249.4K
Cap Rate 9%
$193,978
$194.0K
Market Conditions
NOI Build-Up for 1,574 SF
Gross rent
$24.6K $15.60/SF
− Vacancy
−$1.3K −$0.81/SF
EGI
$23.3K $14.79/SF
− OpEx
−$5.8K −$3.70/SF
NOI
$17.5K $11.09/SF
Area
Putnam County, FL
Vacancy
5.20%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$349,160
Cap Rate 7%
$249,400
Cap Rate 9%
$193,978
Alternative Uses
Best Use
Specialty Retail
$249.4K
$218.2K – $291.0K
NOI $17,458 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$409.9K
$358.7K – $478.2K
NOI $28,694 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Well-served
Demand for This Use
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A dedicated takeout room and service window complement the dine-in layout.
Where is this conventional restaurant located?
The property is located at 102 Phillips Dairy Palatka, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,574‑square‑foot restaurant with two dining areas and private dining or flex space; ±136 feet of frontage on State Road 19; approximately 500 feet from a signalized intersection; 2025 FDOT traffic volumes reach up to 20,500 vehicles per day on the corridor
