2413 Crill AvePalatka, FL 32177

Property Details for 2413 Crill Ave

Year built

1948

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.56 AC

Property size (Sq ft)

4,404 SF

Property type

Community centers

APN

12-10-26-6500-008.1-007.0

APU

121026650000810070

Description

Exceptional investment opportunity in Palatka, Florida, presents a multi-tenant office complex situated on a 0.56-acre lot at 2413 Crill Ave, zip code 32177. This property boasts a total of 8,530 square feet, strategically located on heavily traveled Crill Avenue/Highway 20, ensuring high visibility and accessibility. The complex comprises four units, all currently leased to long-term tenants: H&R Block, The Church of God, and Carter's Music Center. Unit 2413, encompassing 4,750 square feet, features two bathrooms (one ADA compliant), a break room with a sink, and a private storage room, currently leased for $1,575 per month. Unit 2415, measuring 1,380 square feet, includes one bathroom and a rear storage room, leased for $450 per month. Units 2417 and 2419, totaling 2,400 square feet, are occupied by a single tenant and feature four private rooms and two offices, leased for $1,300 per month. The property benefits from city water and sewer services, fenced rear parking with front and rear gates, and convenient access from both Crill Avenue/Highway 20 and President Street. Additional parking is available in front and on the side of the building. Roofs are less than 10 years old, with Unit 2413's roof installed in October 2015 (warranty until May 2031) and the remaining units' roofs installed in June 2016. The asking price for this lucrative investment is $650,000. An adjacent portion of the strip center is also available for purchase.

• CAP approach

  CAP return

  Valuation

  6%

  $1,114,720

  6.5%

  $1,028,972

  7%

  $955,474

• Comparable approach

  Method

  Valuation

  Relative Method

  $754,780

  Geo Method

  $754,780

• Alternative Use

  Use

  Valuation

  Residential

  $867,976

  Hospitality

  $795,062

  Educational

  $661,482

  Medical

  $684,231

  Retail

  $1,028,972

Location Insight

City

Palatka

County

Putnam

State

Florida

Latitude

29.6419

Longitude

-81.6549

CBSA code

37260

CBSA name

PALATKA, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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