Investment opportunity in thriving downtown Palatka. Formerly the Hotel James, this brick 3-story historical Klutho building was built in 1916 & is listed on the National Register of Historic Places, which makes it eligible for grants. First floor has 7,583 sqft, second & third floors have 7,061 each, for a total of 21,705 sqft. Property consists of two parcels, for a total of .36 +/- acres, with Downtown Riverfront zoning. Located in an opportunity zone. With redevelopment, great for restaurant, retail, & apartments/hotel. Downtown Palatka is pedestrian friendly, with walkability to the beautiful St. Johns River, marina, shopping, & restaurants. Convenient to Palatka bike trails. Centrally located in the heart of North Florida, with only an hour drive to major cities & tourist destinations. Close proximity to primary transportation routes, such as State Rd 207, Highway 17, & other highway connectors to I-95 & I-75. (Please note, hotel has not been operable for many, many years & the interior is in need of extensive work.)