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 Market9
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: Sep 9
Last Checked: Sep 10 at 9:24AM
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
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 = 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
$16,360
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
4.48%
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%
$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
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
$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 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%
$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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
