Corner Storefront
For Sale
$249,000
1321 Saint Johns Avenue, Palatka, FL 32177
Flexible commercial layout with prominent street-facing windows and C-2 zoning in Putnam County.
Property Size2,110 SF
Lot Size0.23 Acres
Price / SF$118.01
Days on Market452
Property Features for 1321 Saint Johns Avenue
General Information
Standard status
Active
Size
2,110 SF
Lot size
0.23 Acres
Property subtype
Retail
Zoning
C-2
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$1,422
Amenities
Window/Wall Unit
3
Building Details
Year Built
1957
Construction
concrete and brick
Listing Agency:
GREAT EXPECTATIONS REALTY
(904) 823-3456
Listed By:
Jena Dennis · License #BK3387473
Source:
Xome
Added: Jun 5, 2025
Changed: Aug 29
Last Checked: Aug 30 at 2:12PM
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 GREAT EXPECTATIONS REALTY
Investment Insights
Based on property information with market context.
This 2,110-square-foot commercial building occupies a concrete-and-brick structure on a slab and includes an open interior, one bathroom, and large windows oriented toward Saint Johns Avenue. The front office section received a new roof in 2025. Built in 1957, the property offers an adaptable footprint for a storefront, office, studio, or specialty retail concept, subject to applicable requirements.
The two-parcel site covers 0.23 acres at a corner location one block from Reid Street and US-17. Its position provides direct access to established commercial corridors and downtown Palatka. The property is zoned C-2 in Putnam County and includes parcel numbers 42-10-27-6850-2530-0051 and 42-10-27-6850-2530-0050.
The two-parcel site covers 0.23 acres at a corner location one block from Reid Street and US-17. Its position provides direct access to established commercial corridors and downtown Palatka. The property is zoned C-2 in Putnam County and includes parcel numbers 42-10-27-6850-2530-0051 and 42-10-27-6850-2530-0050.
Key Highlights
- 2,110 SF of open commercial space
- 0.23‑acre corner site across two parcels
- New 2025 roof on the front office portion
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
$21,263
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
8.54%
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%
$425,260
$425.3K
Cap Rate 7%
$303,757
$303.8K
Cap Rate 9%
$236,256
$236.3K
Market Conditions
NOI Build-Up for 2,110 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
$33.7K $15.96/SF
− Vacancy
−$3.3K −$1.56/SF
EGI
$30.4K $14.40/SF
− OpEx
−$9.1K −$4.32/SF
NOI
$21.3K $10.08/SF
Area
Putnam County, FL
Vacancy
9.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
30.00%
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%
$425,260
Cap Rate 7%
$303,757
Cap Rate 9%
$236,256
Alternative Uses
Best Use
Retail
$303.8K
$265.8K – $354.4K
NOI $21,263 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$549.5K
$480.8K – $641.1K
NOI $38,465 @ 7.0% cap · market cap 15.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
678
Businesses Nearby
6k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,557 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Ralph's House Of Flowers, LLC — 605 St Johns Ave #101, Palatka, FL 32177
Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial layout with prominent street-facing windows and C-2 zoning in Putnam County.
Where is this storefront property located?
The property is located at 1321 Saint Johns Avenue Palatka, FL.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 2,110 SF of open commercial space; 0.23‑acre corner site across two parcels; New 2025 roof on the front office portion
