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

    237 Hwy 17th, Unit 2 Palatka, FL 32177-9672

    • Retail space
    • 10,028 SF
    • 0.64 lot acres
    OFF-MARKET
    Last Sale
    Dec 29, 2023
    $1,399,900
    Value Estimations
    $1,395,000
    Show details
    Cap Rate Potential
    4%
    Retail space
    Location Intelligence
    Property ID
    US18-6273253
    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

    • McKinnon Home Furnishings / Carpet & Flooring Store / Hardware & Home Improvement

    Property Details for 237 Hwy 17th

    Year built
    1975
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.64 lot acres
    Property size
    10,028 SF
    Property type
    Retail space
    APN
    01-10-26-0000-027.0-001.0
    APU
    11026000002700010

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,685,000
      6.5%
      $1,555,000
      7%
      $1,445,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,405,000
      Current use
      OFFICE BUILDING
      $1,380,000
      Change: -2% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,235,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Palatka
    County
    Putnam
    State
    Florida
    Longitude
    -81.6567
    Latitude
    29.6611
    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
    $943
    $0.00
    $0.00
    $222,230
    -
    $42,840
    $179,390
    $222,230

    Comparable in this City

    • Value Estimation by Request
      1,967 SF

      712 Saint Johns Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,967 SF
      712 Saint Johns Ave, Palatka, FL 32177-4646
      View Details
    • Value Estimation
      $1,685,000
      7,213 SF

      619 State Rd 19

      RETAIL STORES (PERSONAL SERVICES) • 7,213 SF
      619 State Rd 19, Palatka, FL 32177-3944
      View Details
    • Value Estimation by Request
      4,000 SF

      733 State Rd 20

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      733 State Rd 20, Palatka, FL 32177
      View Details
    • Value Estimation by Request
      4,400 SF

      3605 Crill Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,400 SF
      3605 Crill Ave, Palatka, FL 32177-8113
      View Details
    • Value Estimation
      $645,000
      2,770 SF

      7301 Crill Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,770 SF
      7301 Crill Ave, Palatka, FL 32177-9207
      View Details
    • Value Estimation
      $1,805,000
      17,691 SF

      3701 Crill Ave, Unit 1

      RETAIL STORES (PERSONAL SERVICES) • 17,691 SF
      3701 Crill Ave, Palatka, FL 32177-9168
      View Details

    Similar Nearby for Sale

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      Palatka Commercial Property For Sale

      Commercial property with high visibility and residential income potential.
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    • $249,900

      Palatka Commercial Property on Crill

      Two buildings zoned C-2, ideal for offices or retail.
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    • $1,090,000
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      Versatile Commercial Property on 9.29 Acres

      9.29-acre commercial property with retail space and warehouse buildings.
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    • $329,900
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      Palatka Residential-Commercial Property on Two Acres

      Two-acre property with residential and commercial potential on State Road 20.
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    • $64,900

      Palatka Commercial Space Ready

      932 sq ft commercial space in Palatka, Florida.
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    • New
      $750,000
      3.56 Acres

      Cleared, Fenced Lot on Highway

      3.6 acre lot on Hwy 17, suitable for sales/storage.
      236 Highway 17 N, Palatka, FL 32177
      View Details

    Similar Nearby for Lease

    • $1.15 SF/Yr
      3,942 SF

      Prime Retail Space in Palatka

      High-traffic corner retail space with flexible floorplan options.
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    • $14 SF/Yr
      2,880 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
    • $3,102 /Mo
      2,068 SF

      Highway 17 N Office/Retail Space

      Office/retail space for lease on Highway 17 N in Palatka.
      1116 Highway 17 N, Palatka, FL 32177
      View Details
    • $1,500 /Mo
      1,496 SF

      Retail/Office Space in Palatka

      Move-in ready retail or office space in busy shopping center.
      3701-2 Crill Ave, Palatka, FL 32177
      View Details
    • $9 SF/Yr
      14,630 SF

      Retail Space in Maple Plaza

      14,630 SF commercial space in Palatka, Florida.
      333 N State Road 19, Palatka, FL 32177
      View Details
    • $800 /Mo

      Palatka - Auto Dealer Space

      Auto Dealer Space
      Palatka, FL 32177
      View Details
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    Palatka, FL 32177-9672
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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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