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$ 390,000
Est. payment | /mo
0.46 Acres Lot
$ 390,000
Est. payment | /mo
0.46 Acres Lot
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 251837
HOA Y/N No
Lot Size 0.460 Acres
Acres 0.46
Property Sub-Type Industrial
Property Description
27 Unit Self Storage Complex. Corporate owner is jettisoning smaller properties that do not fit their business model, making this an excellent opportunity for a local investor looking to manage a well-positioned, income-producing property. Acquired as part of a portfolio, this commercial property is ready for the next owner to take advantage of its solid rental income and expansion potential. Located in the heart of Palatka, FL, this property offers 4,000 sq ft of storage space with 18 of 27 units currently rented, generating a solid income stream. With room for growth and a strong rental history, this property is perfect for a hands-on investor who can leverage its existing cash flow and fill the remaining units. Property Features: *Lot Size: .46 acre *Building Size: 4,000 sq ft ( 2-2,000 sq foot buildings) *Construction: Concrete and Metal Roof *Zoning: City of Palatka C-2 Commercial, General, Light *Future land use: Residential High Density. *Storage Units: 27 total units, 12 currently rented, offering immediate rental income. *Parking: Space for tenants and outside storage customers. *Visibility: High-traffic area with excellent street frontage on Oak Street, ensuring maximum exposure for your business. *Pro-Forma Potential: With full occupancy of storage units, income could significantly increase, making this a great investment opportunity with strong returns. Real Path to great cap rates. Minimal Expenses with half vacancy ready for capable investors to fill it up and maximize unit pricing. Location Highlights: Centrally located in Palatka, FL, close to local dining, shopping, and recreational amenities. Easy access US Highway 17, ensuring high visibility and convenient access for tenants and customers. Pro forma Unit Breakdown and Current Monthly Rates: 5x6: $39 x 4 units = $156/month 5x10: $62 x 4 units = $248/month 10x10: $91 x 5 units = $455/month 10x10: $99 x 7 units = $693/month 10x20: $179 x 1 unit = $179/month 12x20: $179 x 1 unit = $179/month 20x20: $199 x 5 units = $995/month LOT: $500 a month Total Monthly Income:3,405?per month Annual Income: $40,860?per year Annual expenses: $6,135. Pro Forma Cap Rate 8.9% Contact us today to schedule a tour or for more details on how this property can become a valuable addition to your investment portfolio!
Location
State FL
County Putnam
Area 21 - Putnam County
Location Details Business District,City Limits,Industrial Park
Interior
Interior Features Inside Storage, Security System
Exterior
Roof Type Corrugated Metal
Building
Story 1
Foundation Concrete
Level or Stories 1
Structure Type Concrete
Listed by Great Expectations Realty
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CC Underwood
Owner