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

    600 Reid St Palatka, FL 32177-3644

    • Retail space
    • 2,955 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Nov 06, 2020
    $125,000
    Value Estimations
    $190,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3397166
    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

    • Vape Factory / Vaporizer Store

    Property Details for 600 Reid St

    Year built
    1985
    Construction
    STEEL FRAME
    Lot size
    0.21 lot acres
    Property size
    2,955 SF
    Property type
    Retail space
    APN
    42-10-27-6850-036.0-006.1
    APU
    421027685003600061

    Description

    This exceptional 4,400 square foot commercial property in Palatka, Florida, presents a unique opportunity for a variety of businesses. The building, constructed with an insulated steel frame and metal exterior, sits on a 0.21-acre lot at the highly visible corner of Reid and 6th Street. The layout seamlessly blends retail and warehouse space, offering maximum functionality. The front section features a retail area, a dedicated office, and a bathroom, providing a comfortable and professional environment for customer interaction and administrative tasks. The expansive warehouse area, accessible via a roll-up door, offers significant storage or operational space. Ceiling heights range from 10 to 13 feet, and the floors are durable concrete, ideal for heavy equipment or storage needs. Ample parking is available on-site, ensuring convenient access for both customers and employees. This prime location guarantees high visibility and easy accessibility, making it an ideal choice for businesses seeking a versatile and strategically positioned space. The property's robust construction and flexible design make it suitable for a wide range of commercial uses. This is a rare opportunity to acquire a well-maintained and strategically located commercial property in a growing area. The asking price is $574,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $165,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $272,000
      Market price range: $217k - $690k
      AI Estimate
      $272,000
      Market price range: $217k - $690k

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

    Location Insight

    • Map
    • Local Demand
    City
    Palatka
    County
    Putnam
    State
    Florida
    Longitude
    -81.6345
    Latitude
    29.6484
    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
    $2,844
    $0.00
    $0.00
    $117,030
    -
    $45,000
    $72,030
    $117,030

    Comparable in this City

    • Value Estimation by Request
      880 SF

      3854 Reid St

      RETAIL STORES (PERSONAL SERVICES) • 880 SF
      3854 Reid St, Palatka, FL 32177-2525
      View Details
    • Value Estimation by Request
      1,575 SF

      709 12th St

      RETAIL STORES (PERSONAL SERVICES) • 1,575 SF
      709 12th St, Palatka, FL 32177
      View Details
    • Value Estimation by Request
      9,108 SF

      3205 Crill Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,108 SF
      3205 Crill Ave, Palatka, FL 32177-4158
      View Details
    • Value Estimation by Request
      899 SF

      1086 Hwy 17

      RETAIL STORES (PERSONAL SERVICES) • 899 SF
      1086 Hwy 17, Palatka, FL 32177-6904
      View Details
    • Value Estimation by Request
      496 SF

      1013 Main St

      RETAIL STORES (PERSONAL SERVICES) • 496 SF
      1013 Main St, Palatka, FL 32177-3626
      View Details
    • Value Estimation by Request
      2,370 SF

      627 Saint Johns Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,370 SF
      627 Saint Johns Ave, Palatka, FL 32177-4643
      View Details

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    Similar Nearby for Lease

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      Prime Retail Space in Palatka

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      Retail Space in Renovated Center

      Retail spaces available in a renovated shopping center.
      400 N State Road 19, Palatka, FL 32177
      View Details
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    600 Reid St
    Palatka, FL 32177-3644
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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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