Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    621 St Johns Ave Palatka, FL 32177

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    621 St Johns Ave Palatka, FL 32177

    View on Map
    • Office properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 621 St Johns Ave

    Year built
    1923
    Property type
    Office properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial property, located at 621 St. Johns Avenue in Palatka, Florida, presents a unique investment opportunity. Built in 1923 and completely renovated, this 2,573 square foot office building boasts a prime location in the heart of the downtown business district, offering excellent visibility along St. Johns Avenue, the main route for local parades and festivals. The extensive renovation includes brand-new HVAC systems and ductwork, drywall walls and ceilings, electrical, plumbing, fixtures, two ADA-compliant bathrooms, paint, flooring, recessed LED and sconce lighting, and Cat6E data cabling—all completed by licensed contractors and approved by Putnam County. The building features high ceilings and numerous transom windows, providing abundant natural light throughout, particularly in the large front conference/display room with 17-foot ceilings. A dedicated AC unit serves the current server room. Five private parking spaces are located in the rear, accessible via a private entrance. The property sits on a 6,534 square foot lot and is just blocks from the Putnam County Courthouse and the St. Johns River. The asking price is $499,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Palatka
    County
    Putnam
    State
    Florida
    Longitude
    -81.6353
    Latitude
    29.6472

    Comparable in this City

    • Value Estimation by Request
      1,944 SF

      800 Zeagler Dr

      Medical Office Space • 1,944 SF
      800 Zeagler Dr, Palatka, FL 32177
      View Details
    • Value Estimation by Request

      149 State Road 20

      Hotels
      149 State Road 20, Palatka, FL 32177
      View Details
    • Value Estimation by Request
      2,573 SF

      621 St. Johns Ave

      Land • 2,573 SF
      621 St. Johns Ave, Palatka, FL 32177
      View Details
    • Value Estimation by Request
      1.83 Acres

      205 Zeagler Dr

      Retail properties & Spaces • 11,200 SF
      205 Zeagler Dr, Palatka, FL 32177
      View Details
    • Value Estimation by Request

      800 Zeagler Dr

      Land
      800 Zeagler Dr, Palatka, FL 32177
      View Details
    • Value Estimation by Request
      3.42 Acres

      3833-3835 Reid St

      Multifamily properties • 3.42 Acres
      3833-3835 Reid St, Palatka, FL 32177
      View Details

    Similar Nearby for Sale

    • $249,900
      756 SF

      Commercial Land on Crill Avenue

      Commercial land ideal for offices or retail shops.
      7351 Crill Ave, Palatka, FL 32177
      View Details
    • Contact for pricing

      Land For Sale

      0.55 acre lot near main roads and highways.
      130 SE 5Th St, Palatka, FL 32177
      View Details
    • New
      $1,950,000
      20.61 Acres

      St. Johns Riverfront Land

      20-acre Palatka land with 2000+ feet of St. Johns Riverfront.
      254 Saint Johns Dr, Palatka, FL 32177
      View Details
    • $449,000
      7.44 Acres

      Palatka Land for Sale

      7.44-acre property offers space and privacy close to town.
      120 County Road 309C, Palatka, FL 32177
      View Details
    • $3,000,000

      Land on State Road 19

      Land available on State Road 19 in Palatka, Florida.
      110 N State Road 19, Palatka, FL 32177
      View Details
    • Contact for pricing

      Land For Sale in Palatka

      Land available near Cobalt Street, Palatka, Florida.
      4416 Cobalt St, Palatka, FL 32177
      View Details

    Similar Nearby for Lease

    • $800 /Mo

      Palatka - Auto Dealer Space

      Auto Dealer Space
      Palatka, FL 32177
      View Details
    • $900 /Mo
      400 SF

      Palatka Office Space For Rent

      400 sq ft office space in Palatka, Florida.
      3624 Reid St, Palatka, FL 32177
      View Details
    • Contact for pricing

      Palatka Multi-Use Development Opportunity

      Prime corner location ideal for retail, medical, or professional office.
      State Road 19 S, Palatka, FL 32177
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Palatka, FL

      Retail space available for lease in Palatka, Florida.
      807-901 S State Road 19, Palatka, FL 32177
      View Details
    • Sponsored
      $8 SF/Yr

      Auto Dealer Depot

      Auto Dealer Office & Parking
      Palatka, FL 32177
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    621 St Johns Ave
    Palatka, FL 32177
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!