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    Turnkey Medical Office in Palatka Title is generated by Realmo AI

    200 Mission Rd, Palatka, FL 32177

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    For Sale
    $649,000

    SINGLE_FAMILY - Palatka, FL

    Type:Office
    Property size:
    2,903 SF
    Lot size:
    2.03 Acres
    Price / SF:
    $223/SF
    Added:
    Aug 6, 2025
    Days on Market:
    290
    Last Refresh:
    May 22 at 5:06 pm

    Property Features for 200 Mission Rd

    General Information

    Property type
    Residential
    Property subtype
    Office
    Bathrooms
    2
    Rooms
    Bathroom 2, Bathroom 1
    Standard status
    Active
    APN
    02-10-26-0000-0751-0000
    Size
    2,903 SF
    Lot size
    2.03 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Description
    Two parcels: 02/10/26 PT OF SW 1/4 OF SE, 1/4 OR 137 P 404, (EX OR463 P1151 OR698 P1942) and PT OF SW1/4 OF SE1/4 OR187, P505 OR240 P359 OR240 P360, (EX OR463 P1151)
    Tax Annual Amount
    8709

    Building Details

    Year built
    1966
    Floors in Building
    1

    We can help!

    Listing Contact
    Richard O'Brien

    Listing agent Richard O'Brien

    Listing office Coldwell Banker Premier Properties (A1A Beach) 661 A1A Beach Blvd, St. Augustine Beach, FL

    Listing date Aug 6, 2025

    MLS# 254580

    Copyright © 2026 St. Augustine & St. John's County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Move‑in ready medical/professional office space in a prime Palatka location.
    • Functional medical layout with multiple exam rooms, reception area, and ADA‑compliant restrooms.
    • Additional 2,091 sq ft detached building for expansion or separate tenant occupancy.
    • Ample parking on a spacious 2+ acre lot with room for future development.
    • High visibility and accessibility on a well‑traveled road near downtown and major highways.
    • Zoned for Office/Medical Use.

    Overview

    Located in Palatka, Florida, the property at 200 Mission Rd is a move-in-ready medical office building. The property spans 2,903 sq ft, with an additional 2,091 sq ft detached building. The property is suitable for healthcare providers, wellness centers, or general office use. The functional medical layout includes multiple exam rooms, a large reception area, a physician's office, a break room, file and storage space, and ADA-compliant restrooms. A secondary building offers flexible space for expansion, specialty services, or separate tenant occupancy. The property has a spacious lot with over 2 acres of land, providing generous on-site parking and room for future development. The property is located on a well-traveled road with convenient access to downtown Palatka, major highways, and local amenities. The property is zoned for office and medical use.

    Financial Insights

    Value Estimation Calculated for Healthcare Medical

    Conservative
    $436.5K
    NOI $39,285 @ 9.00% cap · cautious / downside scenario
    Moderate
    $561.2K
    NOI $39,285 @ 7.00% cap · market / base-case scenario
    Aggressive
    $785.7K
    NOI $39,285 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Healthcare Medical

    Component $ $/SF
    Gross rent $73.2k $25.20
    − Vacancy −$7.7k −$2.65
    EGI $65.5k $22.55
    − OpEx −$26.2k −$9.02
    NOI $39.3k $13.53
    2,903 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%

    Alternative Use Scenarios

    Best Use
    Healthcare Medical
    $561.2K
    $491.1K – $654.8K (±1% cap)
    NOI $39,285 @ 7.0% cap · market cap 6.05%
    Second Best
    Office B
    $539.6K
    $472.2K – $629.5K (±1% cap)
    NOI $37,772 @ 7.0% cap · market cap 5.82%
    Theoretical Best
    Office A
    $756.0K
    $661.5K – $882.0K (±1% cap)
    NOI $52,921 @ 7.0% cap · market cap 8.15%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Patrick J Harris ... Pediatrician Patrick Jennings Harris Pediatrician Joseph Morgan Physician Brenda Kennedy, ARNP Physician ROY H HINMAN ... Pediatrician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel

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

    Similar Places Nearby

    • Animal Medical Clinic — 3301 Crill Ave, Palatka, FL 32177
    • Wall Lanelle DVM — 3301 Crill Ave, Palatka, FL 32177
    • Nelson Andrew T DVM — 3201 crill ave, palatka, fl 32177

    Location Insight

    • Map
    • Local Demand
    City
    Palatka
    County
    Putnam
    State
    Florida
    Longitude
    -81.669793
    Latitude
    29.649698

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    FAQs

    What type of property is this?
    Medical Office Space - Move-in ready medical office space in prime Palatka location.
    Where is this medical office space located?
    The property is located at 200 Mission Rd Palatka, FL.
    What is the asking price?
    The asking price for this property is $649,000.
    What are key features of this property?
    This property features: Move‑in ready medical/professional office space in a prime Palatka location.; Functional medical layout with multiple exam rooms, reception area, and ADA‑compliant restrooms.; Additional 2,091 sq ft detached building for expansion or separate tenant occupancy.
    (904) 814-2080
    We can help!
    Listing Contact
    Richard O'Brien
    Request Owner's contact information
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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.

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