6,600 SF Flex Space
For Sale
Contact for pricing
151 College Dr, Orange Park, FL
6,600 SF flex space building for sale, divisible to 2,200 SF.
Property Size6,600 SF
Lot Size4.66 Acres
Price / SF$128.64
Days on Market637
Property Features for 151 College Dr
General Information
Standard status
Active
Size
6,600 SF
Lot size
4.66 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Prime Realty
(904) 352-1400
Listed By:
Conrad Boylan · License #3382471
(904) 515-2590
Source:
Moodyscre
Added: Dec 16, 2024
Changed: Aug 14
Last Checked: Sep 14 at 10:32AM
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 Prime Realty
Investment Insights
Based on property information with market context.
This is a 6,600 square foot flex space building nearing completion. The property offers the ability to be divided into 2,200 square foot bays. It presents an opportunity for investors or owner users.
Key Highlights
- 6,600 square foot building nearing completion
- Ability to divide into 2,200 square foot bays
- Suitable for investors
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
$56,619
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
6.67%
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%
$1,132,380
$1.1M
Cap Rate 7%
$808,843
$808.8K
Cap Rate 9%
$629,100
$629.1K
Market Conditions
NOI Build-Up for 6,600 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
$70.5K $10.68/SF
− Vacancy
−$3.9K −$0.59/SF
EGI
$66.6K $10.09/SF
− OpEx
−$10.0K −$1.51/SF
NOI
$56.6K $8.58/SF
Area
Clay County, FL
Vacancy
5.50%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
15.00%
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%
$1,132,380
Cap Rate 7%
$808,843
Cap Rate 9%
$629,100
Alternative Uses
Best Use
Warehouse
$808.8K
$707.7K – $943.7K
NOI $56,619 @ 7.0% cap · market cap 6.67%
Second Best
Industrial
$666.1K
$582.9K – $777.1K
NOI $46,628 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,235 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
484
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - 6,600 SF flex space building for sale, divisible to 2,200 SF.
Where is this flex space located?
The property is located at 151 College Dr Orange Park, FL.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 6,600 square foot building nearing completion; Ability to divide into 2,200 square foot bays; Suitable for investors
