2401 Crill AvePalatka, FL 32177

  • Turn key restaurants
  • 4,374 SF
For Sale
$649,000 View listing

Property Details for 2401 Crill Ave

Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
0.53 AC
Property size (Sq ft)
4,374 SF
Property type
Turn key restaurants
APN
12-10-26-6500-008.1-001.0
APU
121026650000810010

Description

This exceptional investment opportunity presents a fully renovated, two-unit commercial building situated on a prominent 0.53-acre corner lot in Palatka, Florida. The property boasts 6,164 square feet, with over 4,144 square feet currently leased to a thriving cafe/restaurant operation under a long-term lease with nine years remaining. This provides immediate and substantial rental income of $4,000 per month. The building features a fully equipped commercial kitchen, perfect for food service businesses, and three ADA-compliant restrooms, ensuring accessibility for all patrons. Recent renovations include fresh paint, new flooring, a brand-new walk-in cooler, and a resurfaced parking lot, significantly enhancing the property's appeal and functionality. The C-2 zoning allows for a variety of commercial uses, providing flexibility for future tenants or potential expansion. Located on a busy thoroughfare, this property benefits from high visibility and significant foot traffic, guaranteeing consistent customer flow for the current tenants and future occupants. This turnkey operation offers a rare combination of strong rental income, a long-term lease, and a prime location, making it an ideal investment for discerning buyers seeking a stable and profitable venture. The property's recent upgrades minimize immediate capital expenditure needs, allowing for a smooth transition and immediate return on investment.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $926,926
    6.5%
    $855,624
    7%
    $794,508
  • Comparable approach

    Method
    Valuation
    Relative Method
    $309,375
    Geo Method
    $309,375
  • Alternative Use

    Use
    Valuation
    Industrial / Distribution
    $1,741,010
    Mixed-Use / Specialty
    $823,295
    Hospitality / Lodging
    $565,905
    Office
    $787,908
    Institutional / Educational
    $845,431
    Residential Income
    $989,154
    Multifamily
    $1,348,660
    Automotive / Energy
    $724,655
    Parking / Income-Based Land
    $278,997
    Restaurant / Food Service
    $365,715
    Healthcare / Senior Housing
    $874,299

Location Insight

City
Palatka
County
Putnam
State
Florida
Latitude
29.6421
Longitude
-81.6541
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
$7,316
-
-
$318,490
-
$46,170
$272,320
$318,490

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message