710 State Rd 19 Palatka, FL 32177-3947
Property profile & analytics
710 State Rd 19 Palatka, FL 32177-3947
- Drive through restaurants
- 2,469 SF
- 2.08 lot acres
Property ID
US18-5042214
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.
Location Intelligence
Current Use by Public Records
- Popeyes Louisiana Kitchen / Restaurant
Property Details for 710 State Rd 19
- Year built
- 1997
- Construction
- STEEL FRAME
- Lot size
- 2.08 lot acres
- Property size
- 2,469 SF
- Property type
- Drive through restaurants
- APN
- 11-10-26-0000-051.0-001.1
- APU
- 111026000005100011
Description
This exceptional investment opportunity presents a freestanding Popeyes restaurant located at 710 S State Rd 19, Palatka, FL 32177, in Putnam County. The property boasts a 2,274 square foot building situated on a 2.07-acre lot, constructed in 1997 and renovated in 2011. Currently operating under a 20-year absolute NNN lease with a franchisee tenant, the lease commenced May 31, 2024, and expires May 30, 2044, leaving 19.5 years remaining. The lease includes four 5-year renewal options, each with a 10% rent increase. Further rent bumps of 10% are built into the lease every 5 years, starting June 1, 2029. The property enjoys a 100% occupancy rate, generating a strong Net Operating Income (NOI) of $140,048, resulting in a compelling 5.15% cap rate. The asking price is $2,719,380, translating to $1,195.86 per square foot. The tenant is backed by a reputable operator managing approximately 150+ units. This location benefits from high traffic counts exceeding 37,000 vehicles per day at a nearby intersection and is conveniently located near major retailers such as Walmart, Winn-Dixie, and Walgreens, as well as St. John's River State College and Saint Leo University, ensuring strong customer traffic and visibility. This is a rare opportunity to acquire a stable, high-performing QSR investment with significant long-term growth potential.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Palatka
- County
- Putnam
- State
- Florida
- Longitude
- -81.6768
- Latitude
- 29.6425
- 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
$26,935
$0.00
$0.00
$1,187,210
-
$724,840
$462,370
$1,187,210
