Mixed-Use Commercial
New
For Sale
$449,900
600 REID Street, Palatka, FL 32177
Commercial Sale, Palatka, FL
Property Size4,400 SF
Lot Size0.22 Acres
Price / SF$102.25
Days on Market2
Property Features for 600 REID Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Off Street
Lot features
Corner Lot
Directions
Travel West on Reid St/Highway 17 from Memorial Bridge. Destination is on the Right.
Subdivision
561-Greater Palatka
Standard status
Active
APN
421027685003600061
Size
4,400 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2713
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Building materials
Aluminum Siding
Roof type
Metal
Listing Agency:
COLDWELL BANKER BEN BATES INC · Coldwell Banker Real Estate
(386) 328-6716
Listed By:
CHRISTOPHER CHASE BARNES · License #3442369
(386) 385-4404
Added: Aug 31
Last Checked: Sep 1 at 7:06AM
MLS# 2162776
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,400-square-foot commercial building combines 1,400 square feet of finished retail area with 3,000 square feet of warehouse space. The configuration accommodates separate customer-facing and service-oriented functions within one property. Built in 1985, the building features aluminum siding, a metal roof, central heating, central air, and a bathroom.
Located at 600 Reid Street in Palatka, the property fronts a corridor reporting 31,000 to 35,000 daily vehicles. Reid Street provides the only St. Johns River crossing for more than 30 miles in either direction, connecting cross-state traffic through northeast Florida. C-2 zoning supports retail, light commercial, and mixed-use operations. Public water and sewer service, cable availability, and designated off-street parking are in place. The property is offered for sale or lease.
Located at 600 Reid Street in Palatka, the property fronts a corridor reporting 31,000 to 35,000 daily vehicles. Reid Street provides the only St. Johns River crossing for more than 30 miles in either direction, connecting cross-state traffic through northeast Florida. C-2 zoning supports retail, light commercial, and mixed-use operations. Public water and sewer service, cable availability, and designated off-street parking are in place. The property is offered for sale or lease.
Key Highlights
- 4,400 square feet divided between 1,400 square feet of finished retail and 3,000 square feet of warehouse space
- 31,000‑35,000 daily vehicles (AADT) reported along the commercial corridor
- C‑2 zoning supports retail, light commercial, and mixed‑use operations
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
Paved road access
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 zoning supports retail, light commercial, and mixed-use operations.
Where is this mixed-use property located?
The property is located at 600 REID Street 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 feet divided between 1,400 square feet of finished retail and 3,000 square feet of warehouse space; 31,000‑35,000 daily vehicles (AADT) reported along the commercial corridor; C‑2 zoning supports retail, light commercial, and mixed‑use operations
