3524 Reid StPalatka, FL 32177

Property Details for 3524 Reid St

Year built

1964

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.51 AC

Property size (Sq ft)

860 SF

Property type

Office properties

Property subtype

Office buildings

APN

02-10-26-0000-026.1-000.0

APU

21026000002610000

Description

This exceptional commercial property presents a rare opportunity in Palatka, Florida. Encompassing two parcels totaling 3.58 acres, this offering boasts over 300 feet of frontage on the heavily trafficked four-lane Reid Street (State Road 100), providing unparalleled visibility and accessibility. Its strategic location near the intersection of State Road 100 and State Road 19 ensures high traffic volume and excellent exposure. The property features a separate entrance and exit for ease of access and operation. A sturdy concrete block building, approximately 987 square feet, is included, equipped with central heating and air conditioning, and a durable metal roof. The land is completely cleared and zoned C-2, allowing for light industrial uses. Adding to its versatility, the property also benefits from potential access via Phillips Dairy Road. All essential public utilities are readily available. This property is being offered at $1,900,000 and presents a compelling investment opportunity for businesses seeking a prominent location with significant development potential. The sale does not include any existing business operations.

• CAP approach

  CAP return

  Valuation

  6%

  $148,081

  6.5%

  $136,690

  7%

  $126,927

• Comparable approach

  Method

  Valuation

  Relative Method

  $58,489

  Geo Method

  $58,489

• Alternative Use

  Use

  Valuation

  Residential

  $169,496

  Hospitality

  $155,257

  Educational

  $129,172

  Medical

  $133,615

  Retail

  $200,935

Location Insight

City

Palatka

County

Putnam

State

Florida

Latitude

29.6577

Longitude

-81.666

CBSA code

37260

CBSA name

PALATKA, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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