Brick Mixed-Use
New
For Sale
$295,000
1244 PARK Ave, Orange Park, FL 32073
Office and retail improvements include private rooms, a lobby, kitchen, courtyard, storage, and parking.
Property Size1,678 SF
Days on Market3
Property Features for 1244 PARK Ave
General Information
Standard status
Active
Size
1,678 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,931
Amenities
fenced outdoor courtyard
oversized storage shed
Building Details
Building Size
1,678 SF
Year Built
1965
Construction
brick and block
Listed By:
DONALD COPES JR
Source:
Elliman
Added: Sep 5
Last Checked: Sep 7 at 8:20AM
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 DONALD COPES JR
Investment Insights
Based on property information with market context.
This mixed-use property combines office and retail functionality within a solid brick-and-block building constructed in 1965. The interior includes a spacious lobby, several private office areas, and a kitchen with a refrigerator. Exterior improvements include a fenced courtyard, an oversized storage shed, and on-site parking.
The property fronts Park Avenue, also designated as Hwy 17, with approximately 100 feet of frontage. Its position in a high-traffic area of Orange Park provides direct exposure along the corridor. Existing office infrastructure and the combination of customer-facing and administrative spaces support a range of commercial configurations.
The property fronts Park Avenue, also designated as Hwy 17, with approximately 100 feet of frontage. Its position in a high-traffic area of Orange Park provides direct exposure along the corridor. Existing office infrastructure and the combination of customer-facing and administrative spaces support a range of commercial configurations.
Key Highlights
- Approximately 100 feet of frontage on Park Avenue (Hwy 17)
- Solid brick‑and‑block building constructed in 1965
- Spacious lobby with multiple private office areas
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
$23,499
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
7.97%
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%
$469,980
$470.0K
Cap Rate 7%
$335,700
$335.7K
Cap Rate 9%
$261,100
$261.1K
Market Conditions
NOI Build-Up for 1,678 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
$40.3K $24.00/SF
− Vacancy
−$8.9K −$5.33/SF
EGI
$31.3K $18.67/SF
− OpEx
−$7.8K −$4.67/SF
NOI
$23.5K $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%
$469,980
Cap Rate 7%
$335,700
Cap Rate 9%
$261,100
Alternative Uses
Best Use
Office B
$335.7K
$293.7K – $391.7K
NOI $23,499 @ 7.0% cap · market cap 7.97%
Second Best
Mixed Use
$305.6K
$267.4K – $356.6K
NOI $21,395 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$447.6K
$391.7K – $522.2K
NOI $31,332 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office and retail improvements include private rooms, a lobby, kitchen, courtyard, storage, and parking.
Where is this mixed-use property located?
The property is located at 1244 PARK Ave Orange Park, FL.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Approximately 100 feet of frontage on Park Avenue (Hwy 17); Solid brick‑and‑block building constructed in 1965; Spacious lobby with multiple private office areas
