Address
205 Zeagler DR Palatka, FL
Price
$ 1,599,000
Property Attributes
  • MLS#1128163
  • TypeCommercial
  • CountyPUTNAM
  • CityPalatka
  • AreaGreater Palatka
  • Zip32177
  • StyleBusiness,Commercial,Investment,Office,Vacant Land
  • Price$ 1,599,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size4.5 Acres
Listing Provided Courtesy Of:
COLDWELL BANKER VANGUARD REALTY
Data Source:
Northeast Florida MLS (NEFMLS) - 54 - FL
Property Description

Great Investment and/or 1031 Exchange property with 6 total units totaling over 11,600 sf of leasable space. 4 of the units have established business leases in place - medical related and other business uses. Two others are currently for lease in separate listings. They were former Medical Labs. 5% CAP rate at List Price even with the two vacancies. When those lease, the CAP rate will increase to over 7%. Hidden Value in this deal is the excess land that can be developed into at least 4 more units. This is a great investment property.

Price History
8/26/2021 Listed $1,599,000

General Features

# of Buildings 4 Buildings
Annual Desc/invest: Existing Rental Inc 129918.00
Annual Desc/invest: Net Operating Income 75788.00
Annual Desc/invest: Occupancy Rate 67.00
Annual Desc/invest: Total Oper Expenses 54130.00
Category Commercial
Days on Market 94
Expenses Include Accounting/Legal, Advertising, Insurance, Licenses & Permits, Repairs & Maint, Taxes-Real Estate
Legal Description PT OF NW1/4O NW1/4 OR328, P1603(EX OR599 P1068 OR786, P588 OR639PP1639 1666 OR951, P1444) & PT OF NW1/4OFNW1/4 OR599, P1068
Listing Area 561-GREATER PALATKA
Lot Location Suburban
Occupancy Tenant Occupied
Possible Financing Cash, Conventional
Present Use/zoned Commercial, Professional/Office
Property Type F
Region 56-PUTNAM COUNTY-NE
Road Frontage City Street, County Road
Roof Metal, Shingle
Status Active
Stories 1 Story
Tenant Expenses CAM
Type Commercial
Utilities Cable - Connected, Sewer - Public, Water - Public
Waterfront No
Year Built 1989
Zoning 01900- Prof Off

Interior Features

# of Units 5 - 10 Units
HVAC Central
Living Area 11620.00
Total Rooms/units 6

Exterior Features

Condition Excellent
Exterior Slab, Steel Framing, Wood Frame
Exterior Wall Stucco
Lot Description/view Natural Drainage, Regular Lot, Sidewalks
Navigable to Ocean No
Parking Facilities > 1 Space Per Unit, Asphalt Blacktop, Concrete, No Covered Parking, Over 100 Spaces
Road Surface Asphalt Road

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 32177

Price
AVG $610K
$1.6M
Visits
AVG 66
27
Year Built
AVG 1958
1989
Walkscore
AVG 29
8
Data Provided by Walkscore ® not using MLS data

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