4 Acre Commercial Opportunity strategically located just east of the signalized intersection of SR 19 and SR 100 aka Reid Street also known as State Road 100 in Palatka, Florida. This property is located directly across the highway from the proposed ''Wawa'' convenience store (6, 119 SF Building) with fuel service (8 Pump Islands) and a LongHorn Restaurant, located on a 5 acre tract at the southeast corner of SR 19 and SR 100 aka Reid Street. Seller is open to build to suit, land lease, or joint venture to develop a portion or entire 4 acre site, which also has rear access from Phillips Dairy Road, connecting west to SR 19. This area is the prime commercial corridor in Palatka and is the location for several national retailers and restaurant chains including Lowes, Home Depot, Tractor Supply, Harbor Freight, Holiday Inn Express, Zaxby's, Krystal, Sonic, and Sonny's BBQ as well as a community shopping center with a Publix Anchor tenant all located within a mile and a half radius of the site. State Road 100 is also the main traffic corridor for commuters and distributors from Gainesville and Ocala to St. Augustine and Jacksonville as well as the surrounding areas with traffic counts ranging from over 18, 000 to 22, 000 VPD. Putnam County is seeing an influx of new residents from St. Augustine and the surrounding areas and is also the future location of "Bass Pro Shops", who has acquired over 5, 000 acres in the southeastern portion of the County along the St. Johns River. As previously stated, the subject site consists of three (3) contiguous parcels, containing a total of four (4) Acres, more or less, with an existing use for used automotive sales. The total property has an estimated total of 420 feet of frontage on State Road 100 also known as Reid Street with four (4) paved existing FDOT entry/exits. The total site also has an estimated total of 325 feet of frontage on the rear boundary or Phillips Dairy Road with direct access to State Road 19. As a result, access as well as visibility is considered excellent. The site can accommodate a variety of highest and best use, multi-tenant commercial scenarios possible based on its mixed-use commercial (C2 & C3) and light industrial zoning. The property is improved with two small commercial buildings as well as an older single-family residence, which are all interim uses of the property to be razed for future development.
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,520,000 | $1,520,000 | $1,520,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 7.000% | 7.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.903% | 7.128% | 7.167% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $10,369 | $10,113 | $13,662 |
Total Monthly Payment | $10,494 | $10,238 | $13,787 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.