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    481 Highway 17 N Palatka, FL 32177

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    For Sale
    $1,090,000

    9.29 acre light industrial parcel with highway frontage.

    Lot size:
    9.29 Acres

    Property Features for 481 Highway 17 N

    General Information

    Lot size
    9.29 Acres

    Building Details

    Year built
    1966

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    Listing Contact
    Chase Barnes
    Chase Barnes
    Source: Cbcworldwide

    Listing Agent: Chase Barnes

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    9.29 Acre Light Industrial Parcel

    This 9.29-acre parcel is zoned IL (Light Industrial) and is currently used as commercial retail space under a Special Use Permit. The property features approximately 925 feet of frontage on US Highway 17, which sees an average daily traffic count of 13,800 vehicles. The property includes a 13,000+ square foot concrete block building equipped with 3-phase power. Additionally, there are two 2,400 square foot (40ft x 60ft) warehouse buildings and 20 storage containers for additional storage. The property is ideally located between Jacksonville, Gainesville, St Augustine, Palm Coast, and Ocala. Seller financing is available with 25% cash down, amortized over 30 years at 5.5% APR with a 5-year balloon.
    Location Intelligence

    Current Use by Public Records

    Johnny's Mobile Home ... Hardware & Home Improvement Putnam Mobile Home ... Hardware & Home Improvement

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Storage Facility Garden Center Bar & Pub Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palatka
    County
    Putnam
    State
    Florida
    Longitude
    -81.664072
    Latitude
    29.705642

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    FAQs

    What type of property is this?
    Industrial land - 9.29 acre light industrial parcel with highway frontage.
    Where is this industrial land located?
    The property is located at 481 Highway 17 N Palatka, FL.
    What is the asking price?
    The asking price for this property is $1,090,000.
    What are key features of this property?
    This property features: - 9. 29 Acre parcel zoned IL (Light Industrial) with existing Special Use Permit for Commercial Retail.; - **13,000+ square foot Concrete Block Building equipped with 3-Phase Power.**; - Approximately 925ft of highway frontage on US Highway 17 with 13,800 Annual Average Daily Traffic count.
    (386) 385-4404
    Request Owner's contact information
    481 Highway 17 N Palatka, FL 32177
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    Palatka, FL 32177
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    481 Highway 17 N Palatka, FL 32177
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    We can help!
    Listing Contact
    Chase Barnes
    Chase Barnes
    Real Estate License ID: BK3442369
    (386) 385-4404
    Learn more
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