Hospital-Adjacent Medical
For Sale
Contact for pricing
1715 Village Way, Orange Park, FL 32073
Hospital-adjacent medical office with an occupied specialty practice plus vacant lower-level space for lease or expansion.
Property Size5,377 SF
Price / SF$223.17
Days on Market70
Property Features for 1715 Village Way
General Information
Standard status
Active
Size
5,377 SF
Class
B
Total Parking Spaces
22
Property subtype
Office
Zoning
CPO
Occupancy
68%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$90,300
Building Details
Year Built
1992
Year Renovated
2002
Buildings
1
Stories
3
Tenancy
Single
Listing Agency:
Landmark Commercial Realty Group Inc
Listed By:
Stephen Nebrat · License #BK605752
(904) 477-1017
Source:
Crexi
Added: Jun 30
Changed: Aug 25
Last Checked: Sep 6 at 5:32PM
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 Landmark Commercial Realty Group Inc
Investment Insights
Based on property information with market context.
Hospital-adjacent medical office property featuring an established specialty practice in 3,698 square feet with NNN pricing at $24.42 per square foot and full operating expense reimbursement. The building also includes 1,679 square feet of vacant lower-level space, offering options for lease-up, practice expansion, or a specialty build-out.
Located at 1715 Village Way in Orange Park, Florida, the property sits less than one mile from HCA Florida Orange Park Hospital, supporting durable referral-driven demand.
Total building size is 5,377 square feet, providing a straightforward mix of occupied space and available lower-level area for a medical tenant looking to grow or for an investor seeking additional income opportunities.
Located at 1715 Village Way in Orange Park, Florida, the property sits less than one mile from HCA Florida Orange Park Hospital, supporting durable referral-driven demand.
Total building size is 5,377 square feet, providing a straightforward mix of occupied space and available lower-level area for a medical tenant looking to grow or for an investor seeking additional income opportunities.
Key Highlights
- Hospital‑adjacent medical office less than 1 mile from HCA Florida Orange Park Hospital
- 3,698 SF occupied specialty practice at $24.42/SF NNN with full operating expense reimbursement
- Includes 1,679 SF vacant lower‑level space for lease, expansion, or specialty build‑out
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
$75,300
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
6.28%
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%
$1,506,000
$1.5M
Cap Rate 7%
$1,075,714
$1.1M
Cap Rate 9%
$836,667
$836.7K
Market Conditions
NOI Build-Up for 5,377 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
$129.0K $24.00/SF
− Vacancy
−$28.6K −$5.33/SF
EGI
$100.4K $18.67/SF
− OpEx
−$25.1K −$4.67/SF
NOI
$75.3K $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%
$1,506,000
Cap Rate 7%
$1,075,714
Cap Rate 9%
$836,667
Alternative Uses
Best Use
Office B
$1.08M
$941.3K – $1.26M
NOI $75,300 @ 7.0% cap · market cap 6.28%
Second Best
Healthcare Medical
$1.02M
$894.3K – $1.19M
NOI $71,544 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,399 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,300
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pet/Ct Center of N Florida — 1895 Kingsley Ave # 600, Orange Park, FL 32073
- PrimeVet Animal Hospital — 920 Kingsley Ave, Orange Park, FL 32073
- Veterinary Dental Specialties & Oral Surgery — 920 Kingsley Ave, Orange Park, FL 32073
- Focused Pet Care — 920 Kingsley Ave, Orange Park, FL 32073
Frequently Asked Questions
What type of property is this?
Medical Office Space - Hospital-adjacent medical office with an occupied specialty practice plus vacant lower-level space for lease or expansion.
Where is this medical office space located?
The property is located at 1715 Village Way Orange Park, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Hospital‑adjacent medical office less than 1 mile from HCA Florida Orange Park Hospital; 3,698 SF occupied specialty practice at $24.42/SF NNN with full operating expense reimbursement; Includes 1,679 SF vacant lower‑level space for lease, expansion, or specialty build‑out
