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621 St Johns Ave 2,573 SF Retail Building Palatka, FL 32177 $585,000 ($227.36/SF) 8.70% Cap Rate
Executive Summary
Own a beautifully restored piece of Palatka history. Built in 1923, this 2,573 sq. ft. commercial building blends historic charm with modern functionality, making it ideal for office or retail use. Original brick accents, soaring ceilings, and transom windows create a bright, inviting space. Recent upgrades include a new roof, new HVAC systems and ductwork, all new electrical, plumbing, drywall, paint, flooring, LED lighting, two ADA-compliant restrooms, and Cat6E data cabling throughout. All improvements were completed by licensed contractors and fully permitted. Additional features include a dedicated server room with its own A/C, five private rear parking spaces, and a private rear entrance. Located on St. Johns Avenue in the heart of downtown Palatka, this high-visibility property offers the opportunity to be part of the city's exciting revitalization, just blocks from the Putnam County Courthouse and the St. Johns River.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
2,573 SF
Building Class
C
Year Built
1923
Price
$585,000
Price Per SF
$227.36
Cap Rate
8.70%
NOI
$50,895
Tenancy
Single
Building Height
1 Story
Building FAR
0.41
Lot Size
0.15 AC
Opportunity Zone
Yes
Zoning
DB - Downtown Business District
Parking
5 Spaces (1.94 Spaces per 1,000 SF Leased)
Frontage
30’ on St. Johns Ave.
Amenities
- Tenant Controlled HVAC
- Air Conditioning
Fairly walkable
50/100
Very drivable
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 42-10-27-6850-0380-0014 | Total Assessment | $283,994 (2025) |
| Land Assessment | $38,090 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $245,904 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
42-10-27-6850-0380-0014
Land Assessment
$38,090 (2025)
Improvements Assessment
$245,904 (2025)
Total Assessment
$283,994 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Contact the Sale Advisor
621 St Johns Ave