3835 Reid St
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3835 Reid St
9 Unit Apartment Building $1,564,200 CAD ($173,800 CAD/Unit) 8.53% Cap Rate Palatka, FL 32177
Executive Summary
This investment opportunity includes the existing property and improvements located 3833 and 3835 Reid Street in Palatka, Florida. This site is improved with 3 single family homes and 4 duplexes for a total of 11 income producing units situated on 3.42 acres of commercial land with direct left-hand turning access. This site is currently being used as an income producing multifamily development and is zoned for commercial (C2) use. The future commercial possibilities are endless for this prime piece of property located in the rapidly expanding commercial district near the signalized intersection of State Road 100 and State Road 19 (proposed site for the new WAWA store and Longhorn Steakhouse). This intersection currently has excellent exposure at 20,000 cars per day. Total gross rental income of $110K is being generated for all 11 units. All structures being sold "as-is" condition. Nearby businesses include Lowe's, Home Depot, Holiday Inn Express, Dollar General, Sonny's BBQ, and Zaxby's. Seller will consider financing with strong down payment and terms to be determined. This is a great opportunity to capitalize on interim income while you make plans and financing arrangements for a more profitable development in the future!
Property Facts
| Price | $1,564,200 CAD | Building Class | C |
| Price Per Unit | $173,800 CAD | Lot Size | 3.42 AC |
| Sale Type | Investment | Building Size | 14,790 SF |
| Cap Rate | 8.53% | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1954 |
| Property Subtype | Apartment | Parking Ratio | 0.81/1,000 SF |
| Apartment Style | Garden |
| Price | $1,564,200 CAD |
| Price Per Unit | $173,800 CAD |
| Sale Type | Investment |
| Cap Rate | 8.53% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.42 AC |
| Building Size | 14,790 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1954 |
| Parking Ratio | 0.81/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | - | - |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $644,172 CAD | |
| Land Assessment | $419,037 CAD | Total Assessment | $1,063,209 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$419,037 CAD
Improvements Assessment
$644,172 CAD
Total Assessment
$1,063,209 CAD
zoning
| Zoning Code | C-2 (Mixed-Use Commercial) |
| C-2 (Mixed-Use Commercial) |
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3835 Reid St
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