Palatka Commercial Land For
For Sale
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7351 -7353 CRILL Avenue, Palatka, FL 32177
Commercial land with two buildings, ideal for offices or retail.
Property Size756 SF
Lot Size0.72 Acres
Price / SF$330.56
Days on Market933
Property Features for 7351 -7353 CRILL Avenue
General Information
Standard status
Active
Size
756 SF
Lot size
0.72 Acres
Property subtype
Business for Sale, Land
Building Details
Year Built
1953
Listing Agency:
Century 21 Beckham Realty
Listed By:
Tedra Beckham · License #499506
Source:
Crexi
Added: Feb 2, 2024
Changed: Aug 14
Last Checked: Aug 23 at 1:05PM
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 Century 21 Beckham Realty
Investment Insights
Based on property information with market context.
Two buildings, currently used for residential purposes, are situated on a 0.72-acre parcel zoned C-2 in the City of Palatka. The property offers 160 feet of frontage on 4-Lane Crill Avenue/State Road 20, making it suitable for offices or small retail shops. The listing includes 7353 Crill Ave, which features a 441 sq ft house also zoned C2 and currently used as residential. Additionally, 7355 Crill Avenue, an adjoining parcel, is available for sale. Each parcel has its own septic tank, and a shared well is located on the 7351 Crill Ave parcel. Current leases are month to month. The total tax amount for both parcels is $1860. The property size is 756 square feet. Measurements are estimated.
Key Highlights
- Zoned C‑2, ideal for offices or small retail shops.
- Located on 4‑Lane Crill Avenue/ State Rd. 20 with 160 ft. frontage.
- Two buildings included on .72 acres.
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
$9,837
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
3.94%
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%
$196,740
$196.7K
Cap Rate 7%
$140,529
$140.5K
Cap Rate 9%
$109,300
$109.3K
Market Conditions
NOI Build-Up for 756 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
$16.6K $21.96/SF
− Vacancy
−$3.5K −$4.61/SF
EGI
$13.1K $17.35/SF
− OpEx
−$3.3K −$4.34/SF
NOI
$9.8K $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%
$196,740
Cap Rate 7%
$140,529
Cap Rate 9%
$109,300
Alternative Uses
Best Use
Office B
$140.5K
$123.0K – $164.0K
NOI $9,837 @ 7.0% cap · market cap 3.94%
Second Best
Retail
$108.8K
$95.2K – $127.0K
NOI $7,618 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$196.9K
$172.3K – $229.7K
NOI $13,782 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
52
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?
Commercial land - Commercial land with two buildings, ideal for offices or retail.
Where is this commercial land located?
The property is located at 7351 -7353 CRILL Avenue Palatka, FL.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Zoned C‑2, ideal for offices or small retail shops.; Located on 4‑Lane Crill Avenue/ State Rd. 20 with **160 ft. frontage.**; Two buildings included on .72 acres.
