Renovated Flex
For Sale
$899,900
130 N Volusia Street, St Augustine, FL 32084
Commercial Intensive zoning and active retail approval support a range of business operations.
Property Size4,000 SF
Price / SF$224.98
Days on Market233
Property Features for 130 N Volusia Street
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Zoning
CI
Lease Term
[]
Warehouse & Industrial
Warehouse Space
4,000 SF
Conditioned Warehouse
Yes
Amenities
Reception Area
Conference Area
Building Details
Year Built
2006
Listing Agency:
One Sotheby's Int (A1A Beach)
(904) 806-3063
Listed By:
Frank O'Rourke
(904) 806-3063
Source:
Onesothebysrealty
Added: Jan 8
Changed: Aug 28
Last Checked: Aug 29 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 One Sotheby's Int (A1A Beach)
Investment Insights
Based on property information with market context.
This flex property combines a finished commercial interior with practical office and storage components. The 4,000-square-foot space is climate controlled and features volume ceilings, a polished reception area, private office, conference room, and multiple storage rooms. Interior finishes and building systems were completed within the last two years, with permits in place and work brought up to code.
The property is located at 130 N Volusia Street in St. Augustine, less than two miles from Historic Downtown St. Augustine. Commercial Intensive (CI) zoning is in place, along with active retail approval. A file of approved uses and uses by variance is available for evaluation.
The property is located at 130 N Volusia Street in St. Augustine, less than two miles from Historic Downtown St. Augustine. Commercial Intensive (CI) zoning is in place, along with active retail approval. A file of approved uses and uses by variance is available for evaluation.
Key Highlights
- 4,000 square feet of climate‑controlled commercial space
- Commercial Intensive (CI) zoning with active retail approval
- Interior finishes and building systems completed within the last two years
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
$56,016
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
6.22%
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%
$1,120,320
$1.1M
Cap Rate 7%
$800,229
$800.2K
Cap Rate 9%
$622,400
$622.4K
Market Conditions
NOI Build-Up for 4,000 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
$96.0K $24.00/SF
− Vacancy
−$21.3K −$5.33/SF
EGI
$74.7K $18.67/SF
− OpEx
−$18.7K −$4.67/SF
NOI
$56.0K $14.00/SF
Area
St. Johns 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%
$1,120,320
Cap Rate 7%
$800,229
Cap Rate 9%
$622,400
Alternative Uses
Best Use
Office B
$800.2K
$700.2K – $933.6K
NOI $56,016 @ 7.0% cap · market cap 6.22%
Second Best
Warehouse
$490.2K
$428.9K – $571.9K
NOI $34,315 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$1.07M
$933.6K – $1.24M
NOI $74,688 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32084, FL
34,526
Population
17,839
Households
1.9
Avg Household Size
45
Median Age
32%
College-Educated
91%
High-School Grad
45.1 sq mi
ZIP Area
766
Density / Sq Mi
$72,965
Median Household Income
$38,611
Median Earnings
$1,534
Median Rent
$295,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial Intensive zoning and active retail approval support a range of business operations.
Where is this flex space located?
The property is located at 130 N Volusia Street St Augustine, FL.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 4,000 square feet of climate‑controlled commercial space; Commercial Intensive (CI) zoning with active retail approval; Interior finishes and building systems completed within the last two years
