Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    104 Michelle Ave East Palatka, FL 32131-6038

    • Retail properties
    • 758 SF
    • 0.27 lot acres
    OFF-MARKET
    Last Sale
    Feb 14, 2022
    $35,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5053508
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail properties

    Property Details for 104 Michelle Ave

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.27 lot acres
    Property size
    758 SF
    Property type
    Retail properties
    APN
    05-10-27-3400-000.0-001.1
    APU
    51027340000000011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    East Palatka
    County
    Putnam
    State
    Florida
    Longitude
    -81.5999
    Latitude
    29.6548
    CBSA code
    37260
    CBSA name
    PALATKA, FL MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $252
    $0.00
    $0.00
    $15,390
    -
    $4,820
    $10,570
    $15,390

    Comparable in this City

    • Value Estimation by Request
      3,133 SF

      160 Us Hwy 17

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 3,133 SF
      160 Us Hwy 17, East Palatka, FL 32131-4023
      View Details
    • Value Estimation by Request
      5,513 SF

      339 State Rd 207

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 5,513 SF
      339 State Rd 207, East Palatka, FL 32131-4106
      View Details
    • Value Estimation by Request

      176 Hwy

      Distribution properties
      176 Hwy, East Palatka, FL 32131
      View Details
    • Value Estimation by Request
      57,000 SF

      164 Hwy

      Restaurants • 57,000 SF
      164 Hwy, East Palatka, FL 32131
      View Details
    • Value Estimation by Request
      1,245 SF

      156 Us Hwy 17

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,245 SF
      156 Us Hwy 17, East Palatka, FL 32131-4023
      View Details
    • Value Estimation by Request
      8,522 SF

      144 Us Hwy 17

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 8,522 SF
      144 Us Hwy 17, East Palatka, FL 32131-4023
      View Details

    Similar Nearby for Sale

    • $1,350,000
      490 SF

      Prime East Palatka Retail Opportunity

      High-traffic corner lot, 490 sq ft retail space.
      167 Us Highway 17, East Palatka, FL 32131
      View Details
    • $569,900

      East Palatka Mixed-Use Property

      Mixed-use property in high-traffic area with rental units and C-2 zoning.
      211 Us Highway 17, East Palatka, FL 32131
      View Details
    • $3,900,000

      Iconic Cheyenne Saloon For Sale

      Turnkey bar and restaurant with 6COP license on 1.72 acres.
      337 S Us Highway 17, East Palatka, FL 32131
      View Details
    • $3,900,000

      Iconic Bar and Restaurant Opportunity

      Turnkey bar and restaurant with prime highway frontage.
      337 Hwy S, East Palatka, FL 32131
      View Details
    • $2,500,000
      2.02 Acres

      East Palatka Corner Commercial Lot

      2.02-acre corner lot in high-traffic East Palatka.
      138 State Road 207, East Palatka, FL 32131
      View Details
    • $120,000

      Land Near St. Johns River

      Land parcel near St. Johns River in East Palatka.
      0000 Unassigned, East Palatka, FL 32131
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      3,600 SF

      East Palatka Retail Space Available

      Retail space for lease in East Palatka, Florida.
      164 S Us Highway 17, East Palatka, FL 32131
      View Details
    • $13 SF/Yr
      57,000 SF

      Eastgate Square Plaza: Creative Office Space

      Prime East Palatka Retail/Office Opportunity
      164 Us Highway 17, East Palatka, FL 32131
      View Details
    • $1,000 /Mo
      2,220 SF

      East Palatka Commercial Leasing Opportunity

      Former clubhouse with flexible lease terms and land options.
      118 Yelvington Rd, East Palatka, FL 32131
      View Details
    • $1,000 /Mo

      Former Clubhouse with Flexible Terms

      2,200 SF building with land for lease near fairgrounds.
      118 Yelvington Rd, East Palatka, FL 32131
      View Details
    • $3,500 /Mo
      48,352 SF

      East Palatka Riverfront Commercial Land

      Over one acre of wooded land with river frontage.
      227 Hwy S, East Palatka, FL 32131
      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.
    104 Michelle Ave
    East Palatka, FL 32131-6038
    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.