Renovated Professional Office
For Sale
$675,000
1301 Plantation Island Drive S 303a, St Augustine, FL 32080
Multi-room office layout with conference, reception, lobby, and break areas.
Property Size2,025 SF
Price / SF$333.33
Days on Market32
Property Features for 1301 Plantation Island Drive S 303a
General Information
Standard status
Active
Size
2,025 SF
Building Details
Year Built
2005
Listing Agency:
COLDWELL BANKER COMMERCIAL PREMIER PROPERTIES
(904) 537-6443
Listed By:
Eric Maimo · License #3254822
Source:
Livewelltampabay
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 29 at 2:57PM
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 COMMERCIAL PREMIER PROPERTIES
Investment Insights
Based on property information with market context.
This professional office unit provides 2,025 square feet within a 2005-built property that has been recently renovated. Its interior arrangement includes multiple private offices along with a conference room, reception area, lobby, and break room, creating a defined workplace setting for business operations.
The property is located at 1301 Plantation Island Drive S in St. Augustine, Florida, on Plantation Island. The combination of office rooms and shared support areas accommodates businesses seeking a dedicated office environment, including companies with satellite-office requirements as identified in the property information.
The property is located at 1301 Plantation Island Drive S in St. Augustine, Florida, on Plantation Island. The combination of office rooms and shared support areas accommodates businesses seeking a dedicated office environment, including companies with satellite-office requirements as identified in the property information.
Key Highlights
- 2,025 SF professional office unit
- Recently renovated interior
- Multiple private offices
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
$28,358
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
4.20%
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%
$567,160
$567.2K
Cap Rate 7%
$405,114
$405.1K
Cap Rate 9%
$315,089
$315.1K
Market Conditions
NOI Build-Up for 2,025 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
$48.6K $24.00/SF
− Vacancy
−$10.8K −$5.33/SF
EGI
$37.8K $18.67/SF
− OpEx
−$9.5K −$4.67/SF
NOI
$28.4K $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%
$567,160
Cap Rate 7%
$405,114
Cap Rate 9%
$315,089
Alternative Uses
Best Use
Office B
$405.1K
$354.5K – $472.6K
NOI $28,358 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$540.2K
$472.6K – $630.2K
NOI $37,811 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Explore this area
Business Placement
Demographics for 32080, FL
21,889
Population
16,658
Households
1.3
Avg Household Size
57
Median Age
50%
College-Educated
96%
High-School Grad
15.7 sq mi
ZIP Area
1,394
Density / Sq Mi
$91,201
Median Household Income
$49,302
Median Earnings
$1,631
Median Rent
$497,500
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?
Office units - Multi-room office layout with conference, reception, lobby, and break areas.
Where is this office units located?
The property is located at 1301 Plantation Island Drive S 303a St Augustine, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,025 SF professional office unit; Recently renovated interior; Multiple private offices
