Mixed-Use Commercial
New
For Sale
$449,900
600 Reid St, Palatka, FL 32177
C-2-zoned building combines finished retail space with warehouse capacity, public utilities, and designated off-street parking.
Property Size4,400 SF
Price / SF$102.25
Days on Market3
Property Features for 600 Reid St
General Information
Standard status
Active
Size
4,400 SF
Property subtype
Commercial
Zoning
C-2
Site & Location
Traffic Count
35,000 vehicles/day
Utilities to Site
Yes
Additional Details
Warehouse Space
3,000 SF
Building Details
Year Built
1985
Building Size
4,400 SF
Listing Agency:
COLDWELL BANKER BEN BATES INC
Listed By:
CHRISTOPHER CHASE BARNES · License #3442369
(386) 385-4404
Source:
Jacksonvilleflhomeguide
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 4:59PM
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 COLDWELL BANKER BEN BATES INC
Investment Insights
Based on property information with market context.
This 4,400-square-foot mixed-use commercial building, constructed in 1985, combines 1,400 square feet of finished retail frontage with 3,000 square feet of warehouse area. The layout supports a range of retail, light commercial, storage, service, and hybrid configurations within one property. C-2 zoning is in place, along with public utilities and designated off-street parking.
The property occupies a corner location along Reid Street, with access from a city road and state road. Reported traffic volume is 31,000–35,000 vehicles per day based on AADT. The site is in Putnam and sits along the commercial corridor connecting traffic across the St. Johns River.
The property occupies a corner location along Reid Street, with access from a city road and state road. Reported traffic volume is 31,000–35,000 vehicles per day based on AADT. The site is in Putnam and sits along the commercial corridor connecting traffic across the St. Johns River.
Key Highlights
- 4,400‑square‑foot mixed‑use commercial building
- 1,400 square feet of finished retail frontage
- 3,000 square feet of warehouse area
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
$38,610
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
8.58%
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%
$772,200
$772.2K
Cap Rate 7%
$551,571
$551.6K
Cap Rate 9%
$429,000
$429.0K
Market Conditions
NOI Build-Up for 4,400 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
$68.6K $15.60/SF
− Vacancy
−$6.9K −$1.56/SF
EGI
$61.8K $14.04/SF
− OpEx
−$23.2K −$5.27/SF
NOI
$38.6K $8.77/SF
Area
Putnam County, FL
Vacancy
10.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$772,200
Cap Rate 7%
$551,571
Cap Rate 9%
$429,000
Alternative Uses
Best Use
Warehouse
$875.6K
$766.1K – $1.02M
NOI $61,290 @ 7.0% cap · market cap 13.62%
Second Best
Industrial
$721.1K
$630.9K – $841.2K
NOI $50,474 @ 7.0% cap · market cap 11.22%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,212 @ 7.0% cap · market cap 17.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
35,000 VPD
Traffic count
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
685
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 Industrial 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?
Mixed-use property - C-2-zoned building combines finished retail space with warehouse capacity, public utilities, and designated off-street parking.
Where is this mixed-use property located?
The property is located at 600 Reid St Palatka, FL.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 4,400‑square‑foot mixed‑use commercial building; 1,400 square feet of finished retail frontage; 3,000 square feet of warehouse area
