3833-3835 Reid Street

3833-3835 Reid St, Palatka, FL 32177

  • For Sale $1,100,000
  • Property Type Multi-Family
  • Property Size 9,630 SF
  • Units 11
  • Lot Size 3.42 Acre
  • Additional Rent Contact for pricing
  • Year Built 1971
  • Date Updated Oct 31, 2024
From downtown Palatka, head west on Reid Street (State Road 100), passing the intersection with State Road 19. Continue straight, and you'll find 3833-3835 Reid Street conveniently located on the left, just beyond Lowe's.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!

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Highlights

  • Total gross rental income of $123,000
  • 100% Occupied
  • Direct left-hand turning access
  • Zoned Commercial (C2)
  • Owner financing available
  • 3.42 Acres

Contacts

broker

Lise Murphy

Florida Network Realty

Location

Getting Around

  • Walk Score ®

    29/100 Car-Dependent
  • Bike Score ®

    40/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Palatka, FL
  • Neighborhood Palatka
  • Zip Code 32177
  • Market North Central Florida

Points of Interest

  • Palatka

    2.10 miles

  • BP

    2.45 miles

  • RaceWay

    4.42 miles

  • Shell

    4.72 miles

  • Citgo

    6.38 miles

  • Holiday Inn Express & Suites Palatka Northwest

    0.20 miles

  • Sleep Inn & Suites Palatka North

    0.24 miles

  • Hampton Inn Palatka

    2.82 miles

  • Regency Inn

    2.84 miles

  • Quality Inn & Suites Riverfront

    2.88 miles

  • Best Western Inn of Palatka

    3.81 miles

  • J&J Seafood & Chicken

    0.29 miles

  • Salsas Cocina

    0.30 miles

  • Firehouse Subs

    0.30 miles

  • Krystal

    0.37 miles

  • Sonny's BBQ

    0.38 miles

  • Caribean 450

    0.38 miles

  • Zaxby's

    0.39 miles

  • Bradley's Steak & Seafood

    0.45 miles

  • Sonic

    0.46 miles

  • Woodys BBQ

    0.83 miles

  • Robert H Jenkins, Junior, Middle School

    0.78 miles

  • Florida School of the Arts

    1.08 miles

  • Palatka High School

    1.10 miles

  • Saint Johns River College

    1.10 miles

  • Mellon Elementary School

    1.17 miles

  • James A Long Elementary School

    1.24 miles

  • Central Academy High School

    1.60 miles

  • Childrens World Day Care/Learning Center

    1.71 miles

  • Moseley Elementary School

    1.88 miles

  • Saint Monicas School

    1.92 miles

Frequently Asked Questions

How much does 3833-3835 Reid Street cost?

The space currently listed for sale at 3833-3835 Reid Street asks for $1,100,000.

What is the total square footage of 3833-3835 Reid Street?

3833-3835 Reid Street totals 9,630 square feet.

When was this property built?

3833-3835 Reid Street was built in 1971.

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Contact Listing Broker

broker

Lise Murphy

Florida Network Realty