Restaurant Property on US Highway
For Sale
Contact for pricing
2021 Reid St, Palatka, FL 24531
Existing commercial building along Reid Street with redevelopment potential, subject to zoning and governmental approvals.
Property Size1,475 SF
Lot Size0.88 Acres
Price / SF$247.46
Days on Market55
Property Features for 2021 Reid St
General Information
Standard status
Active
Size
1,475 SF
Lot size
0.88 Acres
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Listing Agency:
Foresight Real Estate LLC
Listed By:
Karen Hong · License #BK3325286
Source:
Crexi
Added: Sep 2
Changed: Oct 25
Last Checked: Oct 24 at 4:02PM
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 Foresight Real Estate LLC
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Investment Insights
Based on property information with market context.
This restaurant-oriented commercial property includes an existing building of approximately 1,475 square feet on about 0.88 acres. The parcel supports an operating business, owner-user concept, investment strategy, or future redevelopment, with any proposed use subject to zoning and governmental approvals.
The property is located at 2021 Reid Street along US Highway 17 in Palatka, within an established commercial corridor. Surrounding context includes retailers, restaurants, service businesses, residential neighborhoods, and Downtown Palatka. Reid Street functions as an east-west commercial and transportation route through the city, with nearby commercial properties reporting traffic volumes in the 30,000+ vehicles-per-day range.
Potential concepts identified for the site include retail, service, office, automotive, restaurant, and redevelopment uses, subject to applicable approvals.
The property is located at 2021 Reid Street along US Highway 17 in Palatka, within an established commercial corridor. Surrounding context includes retailers, restaurants, service businesses, residential neighborhoods, and Downtown Palatka. Reid Street functions as an east-west commercial and transportation route through the city, with nearby commercial properties reporting traffic volumes in the 30,000+ vehicles-per-day range.
Potential concepts identified for the site include retail, service, office, automotive, restaurant, and redevelopment uses, subject to applicable approvals.
Key Highlights
- Approximately 0.88‑acre commercial parcel
- Existing commercial building of approximately 1,475 SF
- Located along Reid Street / US Highway 17
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,360
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$327,200
$327.2K
Cap Rate 7%
$233,714
$233.7K
Cap Rate 9%
$181,778
$181.8K
Market Conditions
NOI Build-Up for 1,475 SF
Gross rent
$23.0K $15.60/SF
− Vacancy
−$1.2K −$0.81/SF
EGI
$21.8K $14.79/SF
− OpEx
−$5.5K −$3.70/SF
NOI
$16.4K $11.09/SF
Area
Putnam County, FL
Vacancy
5.20%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$327,200
Cap Rate 7%
$233,714
Cap Rate 9%
$181,778
Alternative Uses
Best Use
Specialty Retail
$233.7K
$204.5K – $272.7K
NOI $16,360 @ 7.0% cap · market cap 4.48%
Second Best
Retail
$212.3K
$185.8K – $247.7K
NOI $14,864 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$384.1K
$336.1K – $448.2K
NOI $26,889 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing commercial building along Reid Street with redevelopment potential, subject to zoning and governmental approvals.
Where is this conventional restaurant located?
The property is located at 2021 Reid St Palatka, FL.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Approximately 0.88‑acre commercial parcel; Existing commercial building of approximately 1,475 SF; Located along Reid Street / US Highway 17
