Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    340 Kay Larkin Drive Palatka, FL 32177

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $349,900

    4.2 acres of commercial land ready for development.

    Type:Land / Unimproved Land
    Property size:
    182,952 SF
    Lot size:
    4.20 Acres
    Added:
    Jan 3, 2025
    Days on Market:
    469
    Last Refresh:
    Mar 13 at 10:45 am

    Property Features for 340 Kay Larkin Drive

    General Information

    Standard status
    Active
    Size
    182,952 SF
    Lot size
    4.20 Acres
    Property subtype
    Land / Unimproved Land

    We can help!

    Listing Contact
    CHRIS FIELDS
    CHRIS FIELDS

    Listing agent CHRIS FIELDS License #BK 3087305

    Listing office IHEART REALTY INC

    Listing date Jan 3, 2025

    Source Compass

    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 IHEART REALTY INC

    Overview

    Prime Land Ready for Development

    This property features 4.2 acres of land suitable for development. Environmental phases 1 and 2 have been completed. The property was previously permitted for two 21,000-square-foot buildings, though those permits have since expired. This land presents an opportunity for business expansion or building a commercial portfolio.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Palatka
    County
    Putnam
    State
    Florida
    Longitude
    -81.6920918
    Latitude
    29.6517472

    Nearby Similar for Sale

    • $500,000
      3,348 SF

      Palatka Historic District Office Building

      Two-story office building in Palatka's historic district.
      216 S 6th Street, Palatka, FL 32177
      View Details
    • $500,000
      3,348 SF

      Multi-Suite Office Building in Palatka

      Multi-suite office building in the core of Palatka's business district.
      216 S 6TH STREET, PALATKA, FL 32177
      View Details
    • $1,100,000
      6,420 SF

      Palatka Medical Office Building

      6,420 SF medical office near HCA Florida Putnam Hospital.
      6905 OLD WOLF BAY Road, Palatka, FL 32177
      View Details
    • $599,900
      7,742 SF

      Turnkey Daycare Facility on Corner Lot

      Daycare facility on 0.69-acre corner lot near downtown Palatka.
      1210 ST JOHNS Avenue, Palatka, FL 32177
      View Details
    • $2,499,000
      11,839 SF

      Mixed-Use Income Property with Warehouse

      Income-producing portfolio with warehouse and mixed-use potential in Palatka, FL.
      100 PILOTHOUSE Court, Palatka, FL 32177
      View Details
    • $675,000

      Prime Commercial Land Opportunity

      2.22 acres in a rapidly developing area.
      903 S MOODY Road, Palatka, FL 32177
      View Details
    • $649,000

      Turnkey Medical Office in Palatka

      Move-in ready medical office building in a prime location.
      200 Mission Rd, Palatka, FL 32177
      View Details
    • $750,000

      Cleared, Fenced Lot on Highway

      3.6 acre lot on Hwy 17, suitable for sales/storage.
      236 Hwy 17 N., Palatka, FL 32177
      View Details
    • $669,000
      3,576 SF

      Palatka Condo Office Space

      3576 SF condo office, ideal for medical or professional use.
      205 Zeagler Drive unit: 302-303, Palatka, FL 32177
      View Details
    • $1,100,000
      7,130 SF

      Established Income-Producing Mobile Home Park

      12-unit mobile home park on 2.38 acres in Palatka, FL.
      286 HEIDT ROAD, PALATKA, FL 32177
      View Details
    • $550,000

      St. Johns River Land Opportunity

      30+ acres on St. Johns River with home site potential.
      121 & 125 PANTHER Trail, Palatka, FL 32177
      View Details
    • $449,000

      Palatka Land for Sale

      7.44-acre property offers space and privacy close to town.
      120 COUNTY ROAD 309C, Palatka, FL 32177
      View Details

    FAQs

    What type of property is this?
    Commercial land - 4.2 acres of commercial land ready for development.
    Where is this commercial land located?
    The property is located at 340 Kay Larkin Drive Palatka, FL.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: 4.2 acres of prime land suitable for development.; Environmental assessments (Phase 1 & 2) are already completed.; Previously permitted for two 21,000 sq. ft. buildings.
    (386) 916-5002
    We can help!
    Listing Contact
    CHRIS FIELDS
    CHRIS FIELDS
    Real Estate License ID: BK 3087305
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!