Historic Two-Unit Office
For Sale
$1,299,000
607 Saint Johns Ave, Palatka, FL 32177
Two-unit building totaling 3,528 SF built in 1923 with DB zoning, suited for mixed residential or business development.
Property Size16,117 SF
Price / SF$368.20
Days on Market246
Property Features for 607 Saint Johns Ave
General Information
Standard status
Active
Size
16,117 SF
Class
C
Property subtype
Office - General Office
Zoning
DB
Building Details
Building Size
16,117 SF
Year Built
1923
Listing Agency:
North Florida Realty Advisors
Listed By:
Stanley Bishop · License #3131038
(904) 237-2933
Source:
Commercialcafe
Added: Feb 18
Changed: Oct 13
Last Checked: Oct 20 at 5:17PM
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 North Florida Realty Advisors
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Investment Insights
Based on property information with market context.
This is a 3,528-square-foot, two-unit building constructed in 1923. The property is described as offering flexibility for both residential and business development based on its DB zoning.
Located on Saint Johns Ave in Palatka, the area is characterized in the remarks as having a historic downtown district and proximity to the St. Johns River.
With two units in a historic structure and zoning that supports a broader range of development uses, the building may appeal to buyers and developers evaluating projects that can accommodate either residential or business-oriented plans.
Located on Saint Johns Ave in Palatka, the area is characterized in the remarks as having a historic downtown district and proximity to the St. Johns River.
With two units in a historic structure and zoning that supports a broader range of development uses, the building may appeal to buyers and developers evaluating projects that can accommodate either residential or business-oriented plans.
Key Highlights
- 3,528 SF two‑unit building built in 1923
- DB zoning—suited for mixed residential and business development
- Historic construction dating to 1923
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,904
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,080
$918.1K
Cap Rate 7%
$655,771
$655.8K
Cap Rate 9%
$510,044
$510.0K
Market Conditions
NOI Build-Up for 3,528 SF
Gross rent
$77.5K $21.96/SF
− Vacancy
−$16.3K −$4.61/SF
EGI
$61.2K $17.35/SF
− OpEx
−$15.3K −$4.34/SF
NOI
$45.9K $13.01/SF
Area
Putnam County, FL
Vacancy
21.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,080
Cap Rate 7%
$655,771
Cap Rate 9%
$510,044
Alternative Uses
Best Use
Office B
$655.8K
$573.8K – $765.1K
NOI $45,904 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$918.8K
$803.9K – $1.07M
NOI $64,315 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Two-unit building totaling 3,528 SF built in 1923 with DB zoning, suited for mixed residential or business development.
Where is this office unit located?
The property is located at 607 Saint Johns Ave Palatka, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 3,528 SF two‑unit building built in 1923; DB zoning—suited for mixed residential and business development; Historic construction dating to 1923
