Two-Unit Medical Office
For Sale
$475,000
Pending
1555 KINGSLEY Avenue, Orange Park, FL 32073
SINGLE_FAMILY - Orange Park, FL
Property Size2,280 SF
Lot Size0.26 Acres
Days on Market47
Property Features for 1555 KINGSLEY Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning description
Commercial/Residential/Office
Parking features
Assigned
Lot features
Zero Lot Line
Directions
From the intersection of US Hwy 17 (Park Ave) & Kingsley Ave: West on Kingsley to Bellair. Business campus is on the Northeast corner of Kingsley and Bellair. Enter Kingsley Crossing from Bellair or from Kingsley. Proceed to Building 600.
Subdivision
132-Bellair/Grove Park
Standard status
Pending
APN
41042602026200125
Size
2,280 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7289
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
1
Number of units
2
Flooring type
Carpet
Building materials
Brick Veneer
Roof type
Shingle
Listing Agency:
LA ROSA REALTY NORTH FLORIDA, LLC.
(904) 231-8989
Listed By:
MALLIKARJUNA KAMAVARAM
(469) 579-8586
Added: Jul 17
Changed: Aug 18
Last Checked: Sep 1 at 3:06AM
MLS# 2155907
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,280-square-foot medical office property contains two office units that are being sold together and currently leased together to a medical practice. The existing lease runs through July 2027, and the tenant has expressed interest in extending the arrangement. Built in 2002, the property features brick veneer construction, carpeted interiors, central air, assigned parking, a shingle roof, and public water and sewer service. The roof was replaced in 2025, and new HVAC systems were installed in both units in 2026.
The property is located at 1555 Kingsley Avenue in Orange Park, Florida, near Orange Park Medical Center. Cable service is available, supporting the existing office configuration and its medical-office use.
The property is located at 1555 Kingsley Avenue in Orange Park, Florida, near Orange Park Medical Center. Cable service is available, supporting the existing office configuration and its medical-office use.
Key Highlights
- 2,280 SF medical office property with two units sold and leased together
- Existing medical‑practice lease extends through 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
Property Profile
Current Use
Lease Details
2
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,444
Businesses Nearby
Under-served
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 - Combined office units are leased to a medical practice through July 2027, with assigned parking and public utilities.
Where is this medical office space located?
The property is located at 1555 KINGSLEY Avenue 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: 2,280 SF medical office property with two units sold and leased together; Existing medical‑practice lease extends through July 2027; New roof installed in 2025
