Tenant-Occupied Office
For Sale
$600,000
102-859 Park Ave, Orange Park, FL 32073
Versatile, tenant-occupied office space near US-17, configured for private offices, conference rooms, and reception areas.
Property Size3,072 SF
Price / SF$195.31
Days on Market115
Property Features for 102-859 Park Ave
General Information
Standard status
Active
Size
3,072 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,180
Listing Agency:
COLDWELL BANKER VANGUARD REALTY
(904) 269-7117
Listed By:
GARRETT SHANE STEWART
(904) 518-8806
Source:
Exprealty
Added: May 18
Changed: Aug 20
Last Checked: Sep 8 at 12:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COLDWELL BANKER VANGUARD REALTY
Investment Insights
Based on property information with market context.
This spacious commercial unit offers versatile office space with private offices, conference rooms, reception areas, and collaborative workspaces. The property is currently tenant-occupied and presented as a strong option for investors seeking immediate income and for future owner-users looking for a flexible layout.
Located in Orange Park in a highly visible and convenient area just off US-17, the unit provides easy access to major roadways and is surrounded by retail, dining, and other business centers.
With more than 3,000 square feet of flexible work areas, the space is well-suited for professional office, medical office, legal, or general business uses.
Located in Orange Park in a highly visible and convenient area just off US-17, the unit provides easy access to major roadways and is surrounded by retail, dining, and other business centers.
With more than 3,000 square feet of flexible work areas, the space is well-suited for professional office, medical office, legal, or general business uses.
Key Highlights
- Over 3,000 SF of versatile commercial office space in a highly visible location just off US‑17
- Tenant‑occupied, offering immediate income potential for investors
- Flexible layout supports professional, medical, legal, or general business use
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,020
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$860,400
$860.4K
Cap Rate 7%
$614,571
$614.6K
Cap Rate 9%
$478,000
$478.0K
Market Conditions
NOI Build-Up for 3,072 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$73.7K $24.00/SF
− Vacancy
−$16.4K −$5.33/SF
EGI
$57.4K $18.67/SF
− OpEx
−$14.3K −$4.67/SF
NOI
$43.0K $14.00/SF
Area
Clay County, FL
Vacancy
22.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$860,400
Cap Rate 7%
$614,571
Cap Rate 9%
$478,000
Alternative Uses
Best Use
Office B
$614.6K
$537.8K – $717.0K
NOI $43,020 @ 7.0% cap · market cap 7.17%
Second Best
Healthcare Medical
$583.9K
$510.9K – $681.3K
NOI $40,875 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$819.4K
$717.0K – $956.0K
NOI $57,360 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
551
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32073, FL
43,527
Population
17,301
Households
2.5
Avg Household Size
41
Median Age
27%
College-Educated
92%
High-School Grad
16.8 sq mi
ZIP Area
2,591
Density / Sq Mi
$76,139
Median Household Income
$40,947
Median Earnings
$1,392
Median Rent
$258,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Versatile, tenant-occupied office space near US-17, configured for private offices, conference rooms, and reception areas.
Where is this medical office space located?
The property is located at 102-859 Park Ave Orange Park, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Over 3,000 SF of versatile commercial office space in a highly visible location just off US‑17; Tenant‑occupied, offering immediate income potential for investors; Flexible layout supports professional, medical, legal, or general business use
