Medical Office Condo
For Sale
$669,000
205 Zeagler Drive 302-303, Palatka, FL 32177
Professional office space is occupied under a month-to-month rental agreement and can be separated into two units.
Property Size3,576 SF
Price / SF$187.08
Days on Market347
Property Features for 205 Zeagler Drive 302-303
General Information
Standard status
Active
Size
3,576 SF
Property subtype
Office
Additional Details
Tenant in Place
Yes
Property Use
Medical/Professional Office
Taxes and HOA fees
Annual Taxes
$9,585
Building Details
Building Size
3,576 SF
Year Built
1992
Tenancy
Single
Owner Occupied
No
Listing Agency:
Keller Williams Realty Atlantic Partners St. Augustine
Listed By:
Noah Bailey Group
(904) 878-4447
Source:
Noahbaileygroup
Added: Nov 19, 2025
Changed: Oct 30
Last Checked: Oct 30 at 3:13PM
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 Keller Williams Realty Atlantic Partners St. Augustine
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Two office condominium units provide 3,576 square feet of medical or professional office space. The property was built in 1992 and is currently occupied under a month-to-month rental agreement.
The layout can be divided into two separate units, allowing the space to be configured for separate occupancy.
The layout can be divided into two separate units, allowing the space to be configured for separate occupancy.
Key Highlights
- 3,576 square feet of medical or professional office space
- Built in 1992
- Currently occupied with a month‑to‑month rental agreement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,392
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$967,840
$967.8K
Cap Rate 7%
$691,314
$691.3K
Cap Rate 9%
$537,689
$537.7K
Market Conditions
NOI Build-Up for 3,576 SF
Gross rent
$90.1K $25.20/SF
− Vacancy
−$9.5K −$2.65/SF
EGI
$80.7K $22.55/SF
− OpEx
−$32.3K −$9.02/SF
NOI
$48.4K $13.53/SF
Area
Putnam County, FL
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$967,840
Cap Rate 7%
$691,314
Cap Rate 9%
$537,689
Alternative Uses
Best Use
Healthcare Medical
$691.3K
$604.9K – $806.5K
NOI $48,392 @ 7.0% cap · market cap 7.23%
Second Best
Office B
$664.7K
$581.6K – $775.5K
NOI $46,528 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$931.3K
$814.9K – $1.09M
NOI $65,190 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
467
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 Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Professional office space is occupied under a month-to-month rental agreement and can be separated into two units.
Where is this office unit located?
The property is located at 205 Zeagler Drive 302-303 Palatka, FL.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: 3,576 square feet of medical or professional office space; Built in 1992; Currently occupied with a month‑to‑month rental agreement
