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    1173 Hwy Satsuma, FL 32189
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    1173 Hwy, Satsuma, FL 32189

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    • Mixed-use properties
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    Current Use by Public Records

    • Mixed-use properties

    Property Details for 1173 Hwy

    Year built
    1900
    Property type
    Mixed-use properties

    Description

    This exceptional mixed-use property presents a rare investment opportunity in the burgeoning Satsuma, Florida market. Located at 1173 Highway 17, this commercially zoned property boasts a substantial 32,234.4 square foot lot with 131 feet of prime highway frontage. The main structure is a historic Victorian home, built in 1900, offering approximately 3,000 square feet of space ripe for renovation or repurposing. Its age and architectural details offer unique charm and character, perfect for a boutique hotel, restaurant, or other creative commercial venture. Adding to the property's versatility is a large 30' x 40' steel building, providing ample space for storage, workshops, or additional commercial uses. Situated just minutes from Welaka and south of Palatka, this property benefits from its convenient location in a rapidly developing area. The asking price is $350,000, representing a significant value for the size, location, and potential of this unique property. Don't miss this chance to acquire a piece of Satsuma's history and capitalize on its promising future. The property's zoning and highway frontage make it ideal for a variety of commercial uses, while the existing structures offer a solid foundation for development. This is a truly exceptional opportunity for an investor seeking a high-impact project with significant upside.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Satsuma
    County
    Putnam
    State
    Florida
    Longitude
    -81.6566
    Latitude
    29.5551

    Comparable in this City

    • Value Estimation by Request
      962 SF

      103 Roberts Blvd

      STORE/OFFICE (MIXED USE)
      103 Roberts Blvd, Satsuma, FL 32189-2629
      View Details
    • Value Estimation by Request
      587 SF

      1185 Us Hwy 17th, Unit 1

      STORE/OFFICE (MIXED USE)
      1185 Us Hwy 17th, Satsuma, FL 32189-2716
      View Details
    • Value Estimation
      $640,000
      5,296 SF

      220 1st St, Unit 1

      STORE/OFFICE (MIXED USE)
      220 1st St, Satsuma, FL 32189-2916
      View Details
    • Value Estimation by Request
      1,492 SF

      1147 Us Hwy 17th, Unit 1

      STORE/OFFICE (MIXED USE)
      1147 Us Hwy 17th, Satsuma, FL 32189-2716
      View Details
    • Value Estimation by Request
      642 SF

      1162 Us Hwy 17

      STORE/OFFICE (MIXED USE)
      1162 Us Hwy 17, Satsuma, FL 32189-2715
      View Details
    • Value Estimation by Request
      1,261 SF

      480 Cv Dr

      STORE/OFFICE (MIXED USE)
      480 Cv Dr, Satsuma, FL 32189-2814
      View Details

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    Satsuma, FL 32189
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    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
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