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3833-3835 Reid St, Palatka, FL 32177

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For Sale

$1,100,000

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Over 50 Years Old
    Age

Explore this Property

Introducing A Unique Investment Opportunity In The Rapidly Expanding Commercial Corridor Near State Road 100 And State Road 19 A Prime 3.42-acre Property That Offers A Blend Of Multifamily Residential Income And Commercial Development Potential. Key Highlights: Current Use & Income: This Property Includes 3 Single-family Homes And 4 Duplexes,Generating $123,000 In Gross Rental Income From 11 Fully-occupied Units. 8.53% Cap Rate. Zoning Flexibility: Zoned Commercial (c2),This Property Is Ideal For A Wide Range Of Business Uses,Including A Medical Facility,Hotel,Or Other High-demand Commercial Ventures. Benefit From Existing Rental Income While Planning For Future Development.,Development Potential: With 20,000 Cars Passing The Property Daily And Direct Left-hand Turning Access,This Location Offers Outstanding Exposure For Commercial Enterprises. The Nearby Intersection Is Already Home To Major Retailers And Restaurants Like Lowe s,Home Depot,Holiday Inn Express,Zaxby s,And The Brand New Wawa And Longhorn Steakhouse. Financing Options: Seller Financing Is Available,Making It Easier To Seize This Lucrative Opportunity. Buyer Is Only Required To Obtain Liability Insurance,Not Property Insurance A Significant Cost Savings. Solid Construction: All Structures Are Built With Durable Block Construction. Whether You're Looking To Develop A Commercial Property,Petition For A Zoning Change To Add Additional Units,Or Simply Collect Rent While Finalizing Your Plans,This Property Offers Unlimited Potential In A Highly Desirable And Fast-growing Area. Don t Miss Out On This Rare Chance To Invest In A Property With Income Generation,Future Development Potential,And A Prime Location! Sale Includes Both Parcels: 02-10-26-0000-0430-0000 And 02-10-26-0000-0390-0000
MLS# 244653

Courtesy Of Berkshire Hathaway HomeServices Florida Network Realty

(904) 999-6230

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other

Map and Directions

Directions to 3833-3835 Reid St, Palatka, FL 32177

Home seller CENTURY 21 Triton Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Triton Realty

(386) 698-2100
Learn More About Us

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Copyright © 2024 St. Augustine & St. John's County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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