Mixed-Use Property With
For Sale
$1,900,000
100 Pilothouse Court, Palatka, FL 32177
Ten furnished rental homes are paired with an insulated warehouse and shared outdoor amenities.
Property Size5,600 SF
Price / SF$105.77
Days on Market547
Property Features for 100 Pilothouse Court
General Information
Standard status
Active
Size
5,600 SF
Property subtype
Commercial Sale / Mixed Use
Zoning
PUD
Units
Unit Mix
3 x 1BR/1BA, 4 x 2BR/1.5BA, 1 x 2BR/2BA, 1 x 3BR/2BA, 1 x 4BR/3BA
Multifamily Units
10
Additional Details
Furnished
Yes
Business Included
Yes
Warehouse Space
5,600 SF
Amenities
stocked pond
community fire pit
gazebo
onsite laundry
0.0
17963.0
Appraiser
Chain Link
Yes
Building Details
Year Built
2011
Buildings
1
Units
7
Building Size
5,600 SF
Listing Agency:
IHEART REALTY INC
(386) 972-3413
Listed By:
KELLI HILLIGUS · License #3474367
(386) 972-3413
Source:
Compass
Added: Mar 2, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:52AM
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 IHEART REALTY INC
Investment Insights
Based on property information with market context.
This mixed-use property combines 10 furnished rental homes with a 5,600-square-foot warehouse on one parcel. The residential component includes a 1/1 triplex, two 2/1.5 duplexes, one 2/2 home with garage, one 3/2 home with garage, and one 4/3 home. The structures were built within the last 14 years, with the newest duplexes completed 5 years ago. Interior finishes include granite counters, tile, plush cabinetry, glass-enclosed showers, and brick driveways.
The insulated warehouse has two roll-up doors, a bathroom with shower, laundry facilities, an entertaining kitchen, and a concealed private office. Additional site improvements include a stocked pond, community fire pit, and gazebo. The property is zoned PUD, offered furnished and as-is, and booking reservations transfer with the sale. Its address in Palatka provides access to St. Augustine, Ocala, and Daytona.
The insulated warehouse has two roll-up doors, a bathroom with shower, laundry facilities, an entertaining kitchen, and a concealed private office. Additional site improvements include a stocked pond, community fire pit, and gazebo. The property is zoned PUD, offered furnished and as-is, and booking reservations transfer with the sale. Its address in Palatka provides access to St. Augustine, Ocala, and Daytona.
Key Highlights
- 10 furnished rental homes with a 1/1 triplex, two 2/1.5 duplexes, and three standalone homes
- 5,600 sq.ft. warehouse with 2 roll‑up doors, kitchen, laundry, bathroom, and private office
- One parcel zoned PUD and offered furnished as/is
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
$157,625
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
8.30%
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%
$3,152,500
$3.2M
Cap Rate 7%
$2,251,786
$2.3M
Cap Rate 9%
$1,751,389
$1.8M
Market Conditions
NOI Build-Up for 17,963 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
$280.2K $15.60/SF
− Vacancy
−$28.0K −$1.56/SF
EGI
$252.2K $14.04/SF
− OpEx
−$94.6K −$5.27/SF
NOI
$157.6K $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 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%
$3,152,500
Cap Rate 7%
$2,251,786
Cap Rate 9%
$1,751,389
Alternative Uses
Best Use
Warehouse
$3.57M
$3.13M – $4.17M
NOI $250,218 @ 7.0% cap · market cap 13.17%
Second Best
Mixed Use
$2.25M
$1.97M – $2.63M
NOI $157,625 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$4.68M
$4.09M – $5.46M
NOI $327,464 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ten furnished rental homes are paired with an insulated warehouse and shared outdoor amenities.
Where is this mixed-use property located?
The property is located at 100 Pilothouse Court Palatka, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 10 furnished rental homes with a 1/1 triplex, two 2/1.5 duplexes, and three standalone homes; 5,600 sq.ft. warehouse with 2 roll‑up doors, kitchen, laundry, bathroom, and private office; One parcel zoned PUD and offered furnished as/is
