320 Zeagler DrPalatka, FL 32177

Property Details for 320 Zeagler Dr

Year built

1996

Construction

WOOD

Lot size

1.05 AC

Property size (Sq ft)

7,198 SF

Property type

Office buildings

APN

10-10-26-0000-020.0-011.0

APU

101026000002000110

Description

This single-story, 6,946 square foot medical office building presents a compelling value-add investment opportunity in Palatka, Florida. Located on a 1.05-acre lot at 320 Zeagler Dr, 32177, this property boasts a convenient location, situated just a quarter-mile north of HCA Florida Putnam Hospital, offering excellent visibility and accessibility from Crills Ave and St. Johns Ave. The building, constructed in 1996, features three units and is currently vacant, allowing for immediate customization and tenant selection. Zoned C-1A, this property offers flexibility for various medical or creative office uses. The asking price is $860,000, translating to $123.81 per square foot. Its proximity to HCA Putnam Hospital, a 99-bed acute care facility, and its location within an hour's drive of Gainesville, Ocala, and Jacksonville, makes this a highly desirable location for medical professionals and businesses. The property's size and zoning provide ample potential for expansion or redevelopment. This is a rare opportunity to acquire a well-positioned medical office building in a growing area. The property includes one building with a drive-thru. No ground lease is in place.

• CAP approach

  CAP return

  Valuation

  6%

  $1,239,404

  6.5%

  $1,144,065

  7%

  $1,062,346

• Comparable approach

  Method

  Valuation

  Relative Method

  $489,536

  Geo Method

  $489,536

• Alternative Use

  Use

  Valuation

  Residential

  $1,418,641

  Hospitality

  $1,299,468

  Educational

  $1,081,142

  Medical

  $1,118,324

  Retail

  $1,681,776

Location Insight

City

Palatka

County

Putnam

State

Florida

Latitude

29.6456

Longitude

-81.694

CBSA code

37260

CBSA name

PALATKA, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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