Remodeled Restaurant with Takeout
102 Phillips Dairy Road, Palatka, FL 32177
For Sale
$399,000
Commercial Sale, Palatka, FL
Property Size1,574 SF
Lot Size0.26 Acres
Price / SF$253.49
Days on Market77
Property Features for 102 Phillips Dairy Road
General Information
Property type
Property subtype
Zoning
Parking features
Exterior features
Lot features
Directions
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Flooring type
Building materials
Roof type
Additional Structures
Buildings
Listing Agency:
CENTURY 21 J.W.MORTON R.E. · Century 21 Real Estate
(352) 726-6668
Listed By:
Rich Fernley
(352) 464-2664
Added: Aug 25
Changed: Nov 9
Last Checked: Nov 9 at 5:06AM
MLS# CC857346
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This remodeled second-generation restaurant occupies a 0.26-acre corner site and includes two dining areas, a host and service area, private dining or flex space, office and storage areas, a takeout room with service window, and two restrooms. The commercial kitchen is equipped with a 9-foot hood and Ansul fire-suppression system, stainless-steel wall panels, a gas range and oven, a three-compartment sink, and a separate handwashing sink. Public water, sewer, and natural gas serve the property. A separate block storage building contains a washer and dryer with hot-water capability.
The property has approximately 136 feet of frontage on State Road 19 and sits approximately 500 feet from a signalized intersection. 2025 FDOT data cited for the corridor reports traffic volumes of up to 20,500 vehicles per day. Rear outdoor seating previously accommodated approximately 45 patrons; a prior parking expansion plan is available for review. A drive-through could be added subject to conditional use approval from the City of Palatka. The property also has lighting and rain gutters.
The property has approximately 136 feet of frontage on State Road 19 and sits approximately 500 feet from a signalized intersection. 2025 FDOT data cited for the corridor reports traffic volumes of up to 20,500 vehicles per day. Rear outdoor seating previously accommodated approximately 45 patrons; a prior parking expansion plan is available for review. A drive-through could be added subject to conditional use approval from the City of Palatka. The property also has lighting and rain gutters.
Key Highlights
- 0.26‑acre corner site with approximately 136 feet of State Road 19 frontage
- 2025 FDOT data reports corridor traffic volumes up to 20,500 vehicles per day
- Restaurant layout includes two dining areas, private dining or flex space, and a dedicated takeout room with service window
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
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Current Use
Lease Details
20,500 VPD
Traffic count
Yes
Paved road access
Yes
Utilities to site
Yes
Commercial hood
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
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A commercial kitchen, dedicated takeout area, and public utilities support dine-in and takeout service.
Where is this conventional restaurant located?
The property is located at 102 Phillips Dairy Road 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: 0.26‑acre corner site with approximately 136 feet of State Road 19 frontage; 2025 FDOT data reports corridor traffic volumes up to 20,500 vehicles per day; Restaurant layout includes two dining areas, private dining or flex space, and a dedicated takeout room with service window
