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600 Reid St 4,400 SF Retail Building Palatka, FL 32177 $662,218 CAD ($150.50 CAD/SF) 7.67% Cap Rate
EXECUTIVE SUMMARY
Motivated Seller - Bring a Cash offer!!!!
Outstanding Investment Opportunity with 9% Cap Rate This 4,400 sq. ft. insulated, steel-framed metal building is fully leased to a long-term tenant, offering reliable passive income.
Positioned on a 0.21-acre lot, the property features a flexible layout that can accommodate a wide range of commercial uses, making it ideal for investors seeking stable returns and future adaptability.
Featuring a front retail space with office and one bathroom, and a spacious warehouse area with a roll-up door, this property provides seamless functionality and flexibility. The warehouse area boasts 10 to 13 ft. ceiling heights and durable concrete floors, ensuring easy maintenance and adaptability for storage, production, or distribution operations.
Strategically positioned on the high-traffic corner of Reid & 6th Street, this location offers excellent visibility and accessibility for both customers and employees. The site includes ample parking, enhancing convenience for various commercial uses.
Zoned C-2 Commercial General Light, this property accommodates a wide range of business types.
The annual insurance cost is approximately $2,193.23, and the current property taxes are $2,544.00. There is a long-term tenant, a Vape Shop, with 2 years left on their lease currently paying annually $50,009.40.
Brand new AC unit installed and new Hydrostop roof coating for longevity and insulation.
Outstanding Investment Opportunity with 9% Cap Rate This 4,400 sq. ft. insulated, steel-framed metal building is fully leased to a long-term tenant, offering reliable passive income.
Positioned on a 0.21-acre lot, the property features a flexible layout that can accommodate a wide range of commercial uses, making it ideal for investors seeking stable returns and future adaptability.
Featuring a front retail space with office and one bathroom, and a spacious warehouse area with a roll-up door, this property provides seamless functionality and flexibility. The warehouse area boasts 10 to 13 ft. ceiling heights and durable concrete floors, ensuring easy maintenance and adaptability for storage, production, or distribution operations.
Strategically positioned on the high-traffic corner of Reid & 6th Street, this location offers excellent visibility and accessibility for both customers and employees. The site includes ample parking, enhancing convenience for various commercial uses.
Zoned C-2 Commercial General Light, this property accommodates a wide range of business types.
The annual insurance cost is approximately $2,193.23, and the current property taxes are $2,544.00. There is a long-term tenant, a Vape Shop, with 2 years left on their lease currently paying annually $50,009.40.
Brand new AC unit installed and new Hydrostop roof coating for longevity and insulation.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,400 SF
Building Class
B
Year Built
1985
Price
$662,218 CAD
Price Per SF
$150.50 CAD
Cap Rate
7.67%
NOI
$50,807 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.45
Lot Size
0.22 AC
Opportunity Zone
Yes
Zoning
C-2 - Commercial
Frontage
138’ on Reid St
AMENITIES
- Pylon Sign
Bike Score®
Very Bikeable (81)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 42-10-27-6850-0360-0061 | Improvements Assessment | $101,275 CAD |
| Land Assessment | $50,504 CAD | Total Assessment | $151,780 CAD |
PROPERTY TAXES
Parcel Number
42-10-27-6850-0360-0061
Land Assessment
$50,504 CAD
Improvements Assessment
$101,275 CAD
Total Assessment
$151,780 CAD
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600 Reid St
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