102 Phillips Dairy Rd - Restaurant FOR SALE


Palatka, FL 32177
$425,000 USD
352-464-2664
102 Phillips Dairy Rd, Palatka, FL for Sale
$425,000 USD
Restaurant - FOR SALE
1/92
null | Request Cap Rate

102 Phillips Dairy Rd
Palatka, FL 32177


HIGHLIGHTS

  • Diversified Economic Base | Palatka & Putnam County Supported by Manufacturing, Healthcare, Education, Government, Utilities & Retail
  • Owner-User Advantage | Existing Second-Generation Restaurant Buildout Reduces Time & Capital Needed for Food-Service Conversion
  • Established SR 19 Retail Corridor | Surrounded by Walmart, Publix, Home Depot, Lowe’s, Marshalls, Five Below & Planet Fitness
  • $20M SJR State Investment | New Student Housing Expands the College’s Palatka Campus & Strengthens its Institutional Presence
  • $83M Georgia-Pacific Investment | New 400,000 SF Warehouse Expands Storage, Shipping & Logistics at its Palatka Operations
  • $240M+ CertainTeed Expansion | Doubled Production Capacity & Created 110 New Jobs at its Palatka Manufacturing Facility

OVERVIEW

Remodeled, turnkey second-generation restaurant located along Palatka’s State Road 19 commercial corridor within the Jacksonville–Kingsland–Palatka, FL-GA Combined Statistical Area (CSA). The property is positioned ±500 feet from one of the area’s busiest signalized intersections, where 2025 FDOT data indicate AADT traffic volumes up to 20,500 vehicles per day. The corner site offers ±136 feet of frontage along SR 19, providing strong visibility and exposure along an established commercial corridor. The ±1,574-square-foot building is configured for restaurant operations with two dining areas, a host/service area, private dining or flex space, office/storage, dedicated takeout room, commercial kitchen, and two restrooms with durable, washable tile finishes throughout. The commercial kitchen includes a 9-foot hood with Ansul fire-suppression system, stainless-steel wall panels, gas range/oven, stainless-steel three-compartment sink, and dedicated handwashing sink. An adjoining takeout room with service window supports both dine-in and off-premise sales, providing operational flexibility and multiple potential revenue channels. The property benefits from public water, public sewer, and natural gas service, with hot water supplied by two tankless gas water heaters. A grease storage tank provides an ancillary revenue stream through biodiesel collection. The rear of the site previously accommodated outdoor seating for ±45 patrons and offers flexibility for renewed outdoor dining or potential parking expansion. Prior plans for parking expansion are available. A separate block storage building provides additional utility and includes a washer and dryer with hot-water capability. C-1 General Commercial zoning provides flexibility beyond restaurant use, allowing a broad range of retail, service, office, and other commercial uses, subject to applicable City requirements and approvals. The property previously accommodated a multi-use configuration, with a hair salon and barber shop operating alongside the restaurant, demonstrating the building’s adaptability for complementary business uses and potential owner-user or investor configurations. The asset’s physical improvements and flexible use profile are complemented by its position within the Northeast Florida regional economy. The Jacksonville–Kingsland–Palatka CSA encompasses ±1.93 million residents based on U.S. Census Bureau 2025 population estimates, reflecting continued population growth since 2020. This expanding regional population base supports continued residential, commercial, and service-sector investment throughout Northeast Florida. As the county seat of Putnam County, Palatka serves as an employment and service center for the surrounding market, with a diversified economic base spanning government, education, healthcare, manufacturing, utilities, and retail. Major Palatka and Putnam County employers include the Putnam County School District, Georgia-Pacific’s Palatka operations, Putnam County government, the St. Johns River Water Management District, HCA Florida Putnam Hospital, St. Johns River State College, Seminole Electric Cooperative, and major retailers. Together, these institutional and private-sector employers provide an established customer base, supporting demand for restaurant, retail, and service-oriented uses that this asset is positioned to accommodate.

FOR SALE DETAILS

PRICE

$425,000 USD

PRICE/SF

$272 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Turnkey Second-Generation Restaurant | SR 19

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Bar, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

C-1

APN/PARCEL ID

02-10-26-0000-0220-0000

ASK ABOUT THIS PROPERTY

Richard FernleyCentury 21 J.W. Morton Real Estate, Inc.More Info
352-464-2664

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Richard FernleyCentury 21 J.W. Morton Real Estate, Inc.More Info
352-464-2664

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.