Historic Downtown & Opportunity Zone Investment

Highlights:

• Qualified Opportunity Zone Investment
• 23,194 Square Feet | Price of $62.52 Per Square Foot
• 2.26 Acres of Land | $641,593 Per Acre
• Over 25,000 Residential Population within 5 Miles
• Average Household Income: $50,000 within 5 Miles
• Many Nearby Major National / Regional / Local Retailers
• Located on U.S. Highway 17 with 25,000 AADT
• Excellent Visibility and Access
• Surrounded by Stable Residential Communities

Description:

This property presents two investment opportunities. The first is a potential to lease to a multitude of tenants by utilizing the existing buildings and improvements which contain approximately 23,194 square feet of enclosed rentable space. The second investment opportunity is to market for redevelopment or to redevelop the property into two out parcels.

The property contains 2.26 acres of land, more or less, and is located in an area known as the Historic Downtown of Palatka, Florida, in the Greater Jacksonville, Florida MSA. The property is within the City of Palatka Downtown Business District. Situated on U.S. Highway 17, which is the major east west traffic artery connecting US Highway 19 to the west and providing a direct connection to Interstate Highway 95 to the east, there are over 25,000 vehicles per day passing this property. The property is also located at the “hard corner” of at a signalized intersection of U.S. Highway 17 with State Highway 20 that connects several communities and many residential projects to the south. The property further benefits from multiple curb cuts, points of ingress/egress and with excellent visibility from all points of perspectives.

This property is being offered at an “AS IS” price of $1,450,000.00 based upon current zoning and existing entitlements.

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