Flex Building with Drive-In Warehouse 1321 St Johns Ave 2,110 SF Flex Building Palatka, FL 32177 $235,000 ($111.37/SF) 7.18% Cap Rate

Recently renovated 2,110 SF commercial flex asset featuring a combination of office/showroom space, warehouse/shop space, and approximately 200 feet of highly visible corner frontage along historic St Johns Avenue, one of Palatka's primary commercial corridors. The location benefits from a 2025 Florida Department of Transportation (FDOT) traffic count of 8,100 AADT and is strategically positioned between Palatka's Central Business District and Midtown, just one block from the heavily traveled US 17/SR 100 corridor, which carries approximately 25,500 AADT (2025 FDOT).
Situated within the City of Palatka's C-2 Intensive Commercial Zoning District, the zoning designation accommodates a broad range of retail, automotive, contractor, service, restaurant, laundromat, warehouse, and light manufacturing uses. This zoning flexibility, combined with the asset's layout and accessibility, creates opportunities for owner-users, investors, contractors, distributors, automotive businesses, specialty retailers, laundromats, dry cleaners, service providers, and light manufacturing operations.
The building's functional layout supports a variety of operational needs. Features include oversized sliding industrial doors providing drive-in access and convenient ground-level loading, making the property well suited for inventory storage, equipment operations, fabrication, distribution, and contractor uses. A secure concrete block room within the warehouse provides additional workspace, inventory storage, or secure equipment storage. A new TPO roof was installed on the front portion of the building in 2025, reducing near-term capital expenditure requirements for future ownership.
Outside, a combination concrete and asphalt parking area is located directly adjacent to the warehouse access point. Additional unpaved parking and storage areas are accessible via a concrete apron along the north and east sides of the building, providing flexibility for vehicle storage, contractor equipment, trailers, boats, fleet vehicles, or outdoor inventory.
Adding to its legacy and visibility, Bennett Glass successfully operated from this location for more than 50 years, establishing the property as a recognized commercial destination within the Palatka market and demonstrating the site's long-term viability for business operations.
Palatka is part of the Jacksonville–Kingsland–Palatka, FL-GA Combined Statistical Area (CSA), a regional economy encompassing approximately 1.9 million residents according to the U.S. Census Bureau's 2024 population estimates. The region is anchored by the Jacksonville metropolitan economy, which generated more than $129 billion in annual economic output according to the U.S. Bureau of Economic Analysis (2023). The CSA experienced approximately 9.4% population growth between 2020 and 2024 (U.S. Census Bureau), reflecting continued expansion throughout Northeast Florida. This growth has attracted significant public and private investment, including Bass Pro Shops' announced plans for an approximately 5,200-acre outdoor resort development in nearby Welaka. Combined with Palatka's strategic location along the St. Johns River and its proximity to Jacksonville, St. Augustine, Gainesville, and Ocala, the asset is well positioned to benefit from the expanding population base, tourism growth, and commercial investment occurring throughout the Jacksonville–Kingsland–Palatka CSA.