Grocery and Convenience
For Sale
$548,900
729 Bardin Rd, Palatka, FL 32177
Commercial property built in 1989 with access from I-95, US-1, and Northlake Boulevard.
Property Size2,166 SF
Days on Market146
Property Features for 729 Bardin Rd
General Information
Standard status
Active
Size
2,166 SF
Taxes and HOA fees
Annual Taxes
$3,131
Building Details
Building Size
2,166 SF
Year Built
1989
Listing Agency:
(386) 916-7555
Listed By:
Jacob Sevearance
(386) 916-7555
Source:
Evrealestate
Added: Apr 9
Changed: Aug 30
Last Checked: Aug 31 at 1:06PM
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 Jacob Sevearance
Investment Insights
Based on property information with market context.
This grocery and convenience store property was built in 1989 and is located at 729 Bardin Rd in Palatka, Florida. The property is in Putnam County.
Access is available from I-95 via Exit 77 and Northlake Boulevard, with a connection to US-1 and Foresteria Drive.
Access is available from I-95 via Exit 77 and Northlake Boulevard, with a connection to US-1 and Foresteria Drive.
Key Highlights
- Grocery and convenience store property
- Built in 1989
- 729 Bardin Rd, 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
$24,024
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
4.38%
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%
$480,480
$480.5K
Cap Rate 7%
$343,200
$343.2K
Cap Rate 9%
$266,933
$266.9K
Market Conditions
NOI Build-Up for 2,166 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
$33.8K $15.60/SF
− Vacancy
−$1.8K −$0.81/SF
EGI
$32.0K $14.79/SF
− OpEx
−$8.0K −$3.70/SF
NOI
$24.0K $11.09/SF
Area
Putnam County, FL
Vacancy
5.20%
Lease Rate
$15.60 /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%
$480,480
Cap Rate 7%
$343,200
Cap Rate 9%
$266,933
Alternative Uses
Best Use
Specialty Retail
$343.2K
$300.3K – $400.4K
NOI $24,024 @ 7.0% cap · market cap 4.38%
Second Best
Retail
$311.8K
$272.8K – $363.8K
NOI $21,827 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$564.1K
$493.6K – $658.1K
NOI $39,486 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Well-served
Demand for This Use
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 Retail 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?
Grocery and convenience store - Commercial property built in 1989 with access from I-95, US-1, and Northlake Boulevard.
Where is this grocery and convenience store located?
The property is located at 729 Bardin Rd Palatka, FL.
What is the asking price?
The asking price for this property is $548,900.
What are key features of this property?
This property features: Grocery and convenience store property; Built in 1989; 729 Bardin Rd, Palatka, FL 32177
