Two-Unit Medical Office
For Sale
$475,000
Pending
1555 KINGSLEY Ave 604/5, Orange Park, FL 32073
Two office units are leased together to a medical practice under a lease ending July 2027.
Property Size2,280 SF
Days on Market49
Property Features for 1555 KINGSLEY Ave 604/5
General Information
Standard status
Pending
Size
2,280 SF
Property subtype
Commercial
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$7,289
Building Details
Building Size
2,280 SF
Year Built
2002
Units
2
Tenancy
Single
Listing Agency:
LA ROSA REALTY NORTH FLORIDA, LLC.
Listed By:
MALLIKARJUNA KAMAVARAM
(469) 579-8586
Source:
Elliman
Added: Jul 19
Changed: Sep 5
Last Checked: Sep 4 at 1:14PM
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 LA ROSA REALTY NORTH FLORIDA, LLC.
Investment Insights
Based on property information with market context.
This medical office property includes two office units being offered together and currently occupied by a medical practice. The units are leased as a combined property, with the existing lease scheduled to end in July 2027. The tenant has expressed interest in extending the tenancy.
Property improvements include a roof installed in 2025, HVAC systems replaced in both units in 2026, and a water heater replaced in 2024. Built in 2002, the property is located at 1555 Kingsley Ave 604/5 in Orange Park, Florida, near Orange Park Medical Center. Walk Score is 27 and Bike Score is 39.
Property improvements include a roof installed in 2025, HVAC systems replaced in both units in 2026, and a water heater replaced in 2024. Built in 2002, the property is located at 1555 Kingsley Ave 604/5 in Orange Park, Florida, near Orange Park Medical Center. Walk Score is 27 and Bike Score is 39.
Key Highlights
- Two medical office units sold and leased together
- Existing medical‑practice lease expires in July 2027
- New roof installed in 2025
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
$31,929
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
6.72%
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%
$638,580
$638.6K
Cap Rate 7%
$456,129
$456.1K
Cap Rate 9%
$354,767
$354.8K
Market Conditions
NOI Build-Up for 2,280 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
$54.7K $24.00/SF
− Vacancy
−$12.1K −$5.33/SF
EGI
$42.6K $18.67/SF
− OpEx
−$10.6K −$4.67/SF
NOI
$31.9K $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%
$638,580
Cap Rate 7%
$456,129
Cap Rate 9%
$354,767
Alternative Uses
Best Use
Office B
$456.1K
$399.1K – $532.2K
NOI $31,929 @ 7.0% cap · market cap 6.72%
Second Best
Healthcare Medical
$433.4K
$379.2K – $505.6K
NOI $30,337 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$608.2K
$532.2K – $709.5K
NOI $42,572 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,308
Businesses Nearby
Balanced
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two office units are leased together to a medical practice under a lease ending July 2027.
Where is this medical office space located?
The property is located at 1555 KINGSLEY Ave 604/5 Orange Park, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two medical office units sold and leased together; Existing medical‑practice lease expires in July 2027; New roof installed in 2025
