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Property profile & analytics
OFF-MARKET
Estimated value
$630,000
Office buildings
203 Us Hwy 17, East Palatka, FL 32131-6053
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-4820373
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,671 SF
Lot
0.35 ac (15,246 SF)
APN
38-10-27-0000-003.0-000.0
UPID
US18-4820373
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$630k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$760k
Blend (final)
Blend
$630k
Owner & transaction history
Putnam St Johns County Farm Bureau · 1 yrs held
Putnam St Johns County Farm Bureau
since 2024
Last sale
$629,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$820,000
+23.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs East Palatka submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Palatka submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$630,000
ML approach
$630,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$665,000
Current use
COMMERCIAL (GENERAL)
$820,000
Change: +23% · Conversion: Easy
RETAIL STORES
$625,000
Change: -6% · Conversion: Moderate
AUTO REPAIR, GARAGE
$575,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$630k
Range $567k – $693k · ±10% · vs last sale $629k (Dec 11 2024)
Last sale anchor
$629k
Dec 11 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$135 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,243
Tax year 2023
Assessed value
$442,900
Assessed 2023
Previous assessed
$442,900
+0.0% YoY
Effective rate
1.64%
On assessed value
Land market value
$99,510
Improvement market value
$343,390
Total market value
$442,900
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Total area
4,671 SF
Lot
0.35 ac (15,246 SF)
APN
38-10-27-0000-003.0-000.0
UPID
US18-4820373
Jurisdiction
PUTNAM
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$665,000
COMMERCIAL (GENERAL)
Est. value
$820,000
RETAIL STORES
Est. value
$625,000
AUTO REPAIR, GARAGE
Est. value
$575,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HEAT PUMP
Lot
0.35 ac
Current owner
From public records · entity-resolved
Putnam St Johns County Farm Bureau
Entity
Free & Clear · 1 yrs held
Mailing address
7821 DEERCREEK CLB RD STE #200, JACKSONVILLE, FL 32256-3698
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2024
$629,000
Putnam St Johns County Farm Bureau
Watson Properties 5 LLC
Warranty Deed
—
Feb 29, 2024
$105,490
Watson Properties 5 LLC
Watson Realty Corp
Warranty Deed
—
—
—
Watson Realty Corp
—
Deed Of Trust
related
$475,000 · Southtrust Bank NA
—
—
Palatka Motor Sports INC
—
Deed Of Trust
related
$169,501 · Putnam State Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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