C2-Zoned Brick Commercial
For Sale
$160,000
225 N 2ND Street, Palatka, FL 32177
Brick building with 1,272 sq ft C2-zoned space, updated electrical, and two bathrooms with city water and sewer.
Property Size1,272 SF
Price / SF$125.79
Days on Market123
Property Features for 225 N 2ND Street
General Information
Standard status
Active
Size
1,272 SF
Property subtype
Office
Zoning
C2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$166
Amenities
updated electrical
two bathrooms
city water and sewer
3
City Road, Zero Lot Line.
Building Details
Year Built
1960
Construction
brick
Listing Agency:
TIMBER TO TIDES REALTY LLC
(386) 937-7931
Listed By:
TAYLOR DOUGLAS · License #3169293
(386) 937-7931
Source:
Xome
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 23 at 4:56AM
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 TIMBER TO TIDES REALTY LLC
Investment Insights
Based on property information with market context.
Brick commercial building in downtown Palatka offering 1,272 sq ft of C2-zoned space. The property is currently configured with a solid interior layout and features updated electrical and two bathrooms.
City water and sewer are already in place. The building was formerly used as a church, and the existing arrangement may be adaptable for a range of retail, office, or service-based business uses under the C2 zoning.
For buyers seeking a downtown Palatka commercial building with utilities and core systems already addressed, this is a straightforward, ready-to-plan option in a growing downtown setting.
City water and sewer are already in place. The building was formerly used as a church, and the existing arrangement may be adaptable for a range of retail, office, or service-based business uses under the C2 zoning.
For buyers seeking a downtown Palatka commercial building with utilities and core systems already addressed, this is a straightforward, ready-to-plan option in a growing downtown setting.
Key Highlights
- Brick commercial building in downtown Palatka with 1,272 sq ft of C2‑zoned space
- Formerly used as a church; layout could support a variety of business uses
- Updated electrical
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
$12,818
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
8.01%
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%
$256,360
$256.4K
Cap Rate 7%
$183,114
$183.1K
Cap Rate 9%
$142,422
$142.4K
Market Conditions
NOI Build-Up for 1,272 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
$20.3K $15.96/SF
− Vacancy
−$2.0K −$1.56/SF
EGI
$18.3K $14.40/SF
− OpEx
−$5.5K −$4.32/SF
NOI
$12.8K $10.08/SF
Area
Putnam County, FL
Vacancy
9.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
30.00%
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%
$256,360
Cap Rate 7%
$183,114
Cap Rate 9%
$142,422
Alternative Uses
Best Use
Retail
$183.1K
$160.2K – $213.6K
NOI $12,818 @ 7.0% cap · market cap 8.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$331.3K
$289.9K – $386.5K
NOI $23,188 @ 7.0% cap · market cap 14.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
622
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Hotels & Casinos 44%
Dining 12%
Dollar General
Shops & Services
5,557 visits/mo
0.4 miles
Quality Inn & Suites Riverfront
Hotels & Casinos
5,318 visits/mo
0.2 miles
Hampton Inn Palatka
Hotels & Casinos
3,422 visits/mo
0.2 miles
SUBWAY
Dining
2,293 visits/mo
0.1 miles
Ameris Bank
Shops & Services
1,998 visits/mo
0.3 miles
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 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?
Retail space - Brick building with 1,272 sq ft C2-zoned space, updated electrical, and two bathrooms with city water and sewer.
Where is this retail space located?
The property is located at 225 N 2ND Street Palatka, FL.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Brick commercial building in downtown Palatka with 1,272 sq ft of C2‑zoned space; Formerly used as a church; layout could support a variety of business uses; Updated electrical
