Storefront
For Sale
$449,000
6120 CRILL Avenue, Palatka, FL 32177
Established in 1960 with a central interior feature.
Property Size1,339 SF
Price / SF$335.32
Days on Market1552
Property Features for 6120 CRILL Avenue
General Information
Standard status
Active
Size
1,339 SF
Amenities
Central
Other
Building Details
Year Built
1960
Listing Agency:
Coldwell Banker Ben Bates, Inc.
(386) 328-6716
Listed By:
MARC SPALDING · License #0475517
(386) 328-6716
Source:
Evrealestate
Added: Jun 1, 2022
Changed: Aug 29
Last Checked: Aug 29 at 8:38PM
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 storefront property dates to 1960 and has a property size of 1,339. Interior features include Central. The property is located at 6120 CRILL Avenue, Palatka, FL 32177, in Putnam County. From the intersection of SR 19 and Crill Ave, travel west on Crill Ave; the property is on the right, past College Rd.
Key Highlights
- Established in 1960
- Property size: 1,339
- 6120 CRILL Avenue, Palatka, FL 32177
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
$13,493
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
3.01%
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%
$269,860
$269.9K
Cap Rate 7%
$192,757
$192.8K
Cap Rate 9%
$149,922
$149.9K
Market Conditions
NOI Build-Up for 1,339 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
$21.4K $15.96/SF
− Vacancy
−$2.1K −$1.56/SF
EGI
$19.3K $14.40/SF
− OpEx
−$5.8K −$4.32/SF
NOI
$13.5K $10.08/SF
Area
Putnam County, FL
Vacancy
9.80%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
30.00%
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%
$269,860
Cap Rate 7%
$192,757
Cap Rate 9%
$149,922
Alternative Uses
Best Use
Retail
$192.8K
$168.7K – $224.9K
NOI $13,493 @ 7.0% cap · market cap 3.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$348.7K
$305.1K – $406.8K
NOI $24,410 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
118k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 72%
Dining 12%
Shops & Services 11%
Electronics 5%
Walmart
Superstores
85,037 visits/mo
0.3 miles
Chili's Grill & Bar
Dining
14,350 visits/mo
0.4 miles
Murphy USA
Shops & Services
8,703 visits/mo
0.5 miles
Capital City Bank
Shops & Services
2,570 visits/mo
0.4 miles
AT&T
Electronics
2,328 visits/mo
0.5 miles
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 Retail in South region
Questions? Ask Rey
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- Flowers By Louis — 5015 Crill Ave, Palatka, FL 32177
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Frequently Asked Questions
What type of property is this?
Storefront property - Established in 1960 with a central interior feature.
Where is this storefront property located?
The property is located at 6120 CRILL Avenue Palatka, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Established in 1960; Property size: 1,339; 6120 CRILL Avenue, Palatka, FL 32177
