Mixed-Use Property with Corner
For Sale
$289,900
6100 CRILL Avenue, Palatka, FL 32177
Commercial Sale, Palatka, FL
Property Size1,088 SF
Lot Size1.83 Acres
Price / SF$266.45
Days on Market72
Property Features for 6100 CRILL Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Off Street
Lot features
Cleared
Directions
Travel West on State Road 20/Crill Ave from State Road 19. Destination is on the Right.
Subdivision
561-Greater Palatka
Standard status
Active
APN
101026000000500000
Size
1,088 SF
Lot size
1.83 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1761
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Well
Building Details
Year built
1945
Floors in Building
1
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: Jun 23
Changed: Aug 27
Last Checked: Sep 2 at 2:06PM
MLS# 2151849
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 mixed-use property comprises 1.83 acres along Crill Ave/State Road 20, including a 1,088-square-foot building constructed in 1945. The structure was formerly used as office space and currently serves a mixed-use office/residential function. Central heating and air conditioning, a metal roof, and off-street parking are in place.
The parcel is positioned on a corridor reporting 17,900 AADT and sits near the hospital, State College, and Highway 19 retail corridor. The site includes 1.65 acres zoned C-1 Commercial and a 0.18-acre corner area zoned R-2 Residential. It is located in unincorporated Putnam County and borders the City of Palatka on two sides. Existing services include a well and septic tank, with annexation for public utilities identified as an option.
The parcel is positioned on a corridor reporting 17,900 AADT and sits near the hospital, State College, and Highway 19 retail corridor. The site includes 1.65 acres zoned C-1 Commercial and a 0.18-acre corner area zoned R-2 Residential. It is located in unincorporated Putnam County and borders the City of Palatka on two sides. Existing services include a well and septic tank, with annexation for public utilities identified as an option.
Key Highlights
- 1.83‑acre mixed‑use property along Crill Ave/State Road 20
- 1,088‑square‑foot building constructed in 1945
- 1.65 acres zoned C‑1 Commercial and 0.18 acres zoned R‑2 Residential
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
$14,156
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
4.88%
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%
$283,120
$283.1K
Cap Rate 7%
$202,229
$202.2K
Cap Rate 9%
$157,289
$157.3K
Market Conditions
NOI Build-Up for 1,088 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
$23.9K $21.96/SF
− Vacancy
−$5.0K −$4.61/SF
EGI
$18.9K $17.35/SF
− OpEx
−$4.7K −$4.34/SF
NOI
$14.2K $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 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%
$283,120
Cap Rate 7%
$202,229
Cap Rate 9%
$157,289
Alternative Uses
Best Use
Office B
$202.2K
$177.0K – $235.9K
NOI $14,156 @ 7.0% cap · market cap 4.88%
Second Best
Mixed Use
$136.4K
$119.3K – $159.1K
NOI $9,547 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$283.3K
$247.9K – $330.6K
NOI $19,834 @ 7.0% cap · market cap 6.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
17,900 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
686
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Nearly cleared acreage includes an existing building with central HVAC, well, and septic service.
Where is this mixed-use property located?
The property is located at 6100 CRILL Avenue Palatka, FL.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 1.83‑acre mixed‑use property along Crill Ave/State Road 20; 1,088‑square‑foot building constructed in 1945; 1.65 acres zoned C‑1 Commercial and 0.18 acres zoned R‑2 Residential
