Flex Space with
For Sale
$1,900,000
170 Cumberland Park Dr, St Augustine, FL 32095
Industrial property with office component, paved yard, and flexible PUD-authorized commercial uses.
Property Size5,280 SF
Lot Size2.20 Acres
Price / SF$359.85
Days on Market359
Property Features for 170 Cumberland Park Dr
General Information
Standard status
Active
Size
5,280 SF
Total Parking Spaces
14
Lot size
2.20 Acres
Property subtype
Commercial
Zoning
Cumberland Industrial Park PUD
Additional Details
Office Build-Out
1,680 SF
Building Details
Year Built
1997
Building Size
5,280 SF
Construction
Butler style
Tenancy
Single
Listing Agency:
MOMENTUM REALTY
(904) 463-1131
Listed By:
KIRK KILLEBREW
Source:
Myfirstcoasthomesearch
Added: Sep 5, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:39AM
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 MOMENTUM REALTY
Investment Insights
Based on property information with market context.
This flex property at 170 Cumberland Park Dr includes a 5,280-square-foot building on 2.195 acres of developable land. The facility contains 1,680 square feet of office space, three half baths, a 16-foot eave height, and a Butler-style warehouse configuration. An asphalt-paved drive and yard serve the building, with 14 parking spaces on site. Constructed in 1997, the property combines enclosed industrial space with office functionality.
Located within Cumberland Industrial Park PUD, the site permits wholesale, storage, light manufacturing, printing, bulk storage, outdoor storage, vocational or trade schools, clinics tied to industrial activity, miscellaneous industrial uses, radio and television facilities, and essential public services. Self-storage, vehicle and equipment sales, building-supply sales, and service establishments serving commerce and industry may be allowed by exception. Development requires approval within the PUD. The current lease has more than four years remaining.
Located within Cumberland Industrial Park PUD, the site permits wholesale, storage, light manufacturing, printing, bulk storage, outdoor storage, vocational or trade schools, clinics tied to industrial activity, miscellaneous industrial uses, radio and television facilities, and essential public services. Self-storage, vehicle and equipment sales, building-supply sales, and service establishments serving commerce and industry may be allowed by exception. Development requires approval within the PUD. The current lease has more than four years remaining.
Key Highlights
- 5,280‑square‑foot building on 2.195 acres of developable land
- 1,680 square feet of office space with 3 half baths
- Butler‑style warehouse with 16‑foot eave height
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
$73,941
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
3.89%
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%
$1,478,820
$1.5M
Cap Rate 7%
$1,056,300
$1.1M
Cap Rate 9%
$821,567
$821.6K
Market Conditions
NOI Build-Up for 5,280 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
$126.7K $24.00/SF
− Vacancy
−$28.1K −$5.33/SF
EGI
$98.6K $18.67/SF
− OpEx
−$24.6K −$4.67/SF
NOI
$73.9K $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%
$1,478,820
Cap Rate 7%
$1,056,300
Cap Rate 9%
$821,567
Alternative Uses
Best Use
Office B
$1.06M
$924.3K – $1.23M
NOI $73,941 @ 7.0% cap · market cap 3.89%
Second Best
Warehouse
$647.1K
$566.2K – $754.9K
NOI $45,296 @ 7.0% cap · market cap 2.38%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,588 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32095, FL
16,607
Population
6,997
Households
2.4
Avg Household Size
42
Median Age
53%
College-Educated
96%
High-School Grad
57.4 sq mi
ZIP Area
289
Density / Sq Mi
$124,556
Median Household Income
$51,986
Median Earnings
$1,576
Median Rent
$485,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial property with office component, paved yard, and flexible PUD-authorized commercial uses.
Where is this flex space located?
The property is located at 170 Cumberland Park Dr St Augustine, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 5,280‑square‑foot building on 2.195 acres of developable land; 1,680 square feet of office space with 3 half baths; Butler‑style warehouse with 16‑foot eave height
