119 4Th StPalatka, FL 32177

Property Details for 119 4Th St

Year built

1915

Construction

WOOD

Lot size

0.10 AC

Property size (Sq ft)

3,892 SF

Property type

Office properties

Property subtype

Office buildings

APN

42-10-27-6850-015.0-001.0

APU

421027685001500010

Description

This exceptional investment opportunity presents almost 4,000 square feet of office space ideally situated in Palatka's historic downtown business district. The property boasts three distinct office spaces, each with its own private entrance and bathroom, offering unparalleled flexibility for a variety of uses. The largest space encompasses 2,580 square feet, while the second comprises 1,140 square feet, and a third smaller space adds 273 square feet. Built in 1915, the building's character is undeniable. The second office space, accessible via a charming staircase from a foyer, possesses the potential for conversion into a residential apartment, further enhancing its versatility. This property's central location within the vibrant heart of downtown Palatka presents a unique chance to acquire a substantial and adaptable commercial space in a thriving area. The asking price is $449,999, and the property is held under a partnership ownership. This is a truly remarkable opportunity for a savvy investor seeking a strong foothold in a desirable market. The property is 3,967 square feet and is a traditional office building.

• CAP approach

  CAP return

  Valuation

  6%

  $674,116

  6.5%

  $622,261

  7%

  $577,814

• Comparable approach

  Method

  Valuation

  Relative Method

  $264,695

  Geo Method

  $264,695

• Alternative Use

  Use

  Valuation

  Residential

  $771,604

  Hospitality

  $706,785

  Educational

  $588,037

  Medical

  $608,260

  Retail

  $914,724

Location Insight

City

Palatka

County

Putnam

State

Florida

Latitude

29.6475

Longitude

-81.6319

CBSA code

37260

CBSA name

PALATKA, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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