Building Details

Year Built 1983

Buildings 1

Construction block

Listing Agency: COLDWELL BANKER BEN BATES INC b**@benbates.com Show Phone

Listed By: CHRISTOPHER CHASE BARNES · License #3442369 Show Phone

Source: Endlesssummerrealty

Added: Sep 8 Changed: Oct 31 Last Checked: Nov 1 at 6:00AM

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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 COLDWELL BANKER BEN BATES INC

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Investment Insights

Based on property information with market context.

Built in 1983, this mixed-use property includes a 2,200-square-foot block building beneath a metal roof. The interior provides two large rooms measuring approximately 35' x 35' and 35' x 28', along with a 12' x 18' kitchen and two bathrooms. Exterior improvements include a 40' x 40' covered porch and a 20' x 40' canopy. The building requires updates and renovations.

Additional land options include approximately 0.75–1 acre adjoining the building, a separate fully fenced 0.9-acre parcel, or both. The property is located across from the Putnam County Fairgrounds, near HWY 17 and State Rd 207. Lease terms may be structured around the selected land area and approved improvement plans.

Key Highlights

• 2,200‑square‑foot block building constructed in 1983
• Two main rooms measuring approximately 35' x 35' and 35' x 28'
• 12' x 18' kitchen and two bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,305

Suggested Prices Based on Cap Rates

Cap Rate 5%

$386,100 $386.1K

Cap Rate 7%

$275,786 $275.8K

Cap Rate 9%

$214,500 $214.5K

What to ask about pricing

Market Conditions

NOI Build-Up for 2,200 SF

Gross rent

$34.3K $15.60/SF

− Vacancy

−$3.4K −$1.56/SF

EGI

$30.9K $14.04/SF

− OpEx

−$11.6K −$5.27/SF

NOI

$19.3K $8.77/SF

Area

Putnam County, FL

Vacancy

10.00%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$386,100

Cap Rate 7%

$275,786

Cap Rate 9%

$214,500

Alternative Uses

Best Use

Mixed Use

$275.8K

$241.3K – $321.8K (±1% cap)

NOI $19,305 @ 7.0% cap · market cap 1,930.50%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$572.9K

$501.3K – $668.4K (±1% cap)

NOI $40,106 @ 7.0% cap · market cap 4,010.60%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Mixed-use properties

Suggested Use

Top Pick Parking Lot & Garage Building Supply Storage Facility Pharmacy Hair Salon (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

101

Businesses Nearby

Explore this area Business Placement

Demographics for 32131, FL

4,806

Population

2,153

Households

2.2

Avg Household Size

45

Median Age

17%

College-Educated

81%

High-School Grad

35.8 sq mi

ZIP Area

134

Density / Sq Mi

$66,580

Median Household Income

$34,474

Median Earnings

$998

Median Rent

$222,300

Median Home Value

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Block construction, multiple interior rooms, kitchen, bathrooms, and substantial covered outdoor space support varied commercial uses.

Where is this mixed-use property located?

The property is located at 118 YELVINGTON Road East Palatka, FL.

What are key features of this property?

This property features: 2,200‑square‑foot block building constructed in 1983; Two main rooms measuring approximately 35' x 35' and 35' x 28'; 12' x 18' kitchen and two bathrooms