Historic Two-Unit Office
607 Saint Johns Ave Palatka, FL 32177
607 Saint Johns Ave, Palatka, FL, 32177
$1,299,000
For Sale
$1,299,000
Two-unit building totaling 3,528 SF built in 1923 with DB zoning, suited for mixed residential or business development.
Property Size3,528 SF
Price / SF$368.20
Days on Market153
Property Features for 607 Saint Johns Ave
General Information
- Standard status
- Active
- Size
- 3,528 SF
- Property subtype
- Multi Tenant Office
Building Details
- Year Built
- 1923
Listing agency
North Florida Realty Advisors
(904) 237-2933
Listed by
Stanley Bishop · License #3131038
(904) 237-2933
Source
Thebrokerlist
Added: Feb 18 Updated: Jul 21 at 12:21PM Checked: Jul 21 at 12:21PM
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
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
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $77.5k | $21.96 |
| − Vacancy | −$16.3k | −$4.61 |
| EGI | $61.2k | $17.35 |
| − OpEx | −$15.3k | −$4.34 |
| NOI | $45.9k | $13.01 |
3,528 SF · lease $21.96/SF/yr · vacancy 21.00% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Two-unit building totaling 3,528 SF built in 1923 with DB zoning, suited for mixed residential or business development.
Where is this office units 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
