Two-Unit Medical Office
For Sale
$1,199,000
1906 Debarry Avenue, Orange Park, FL 32073
Existing clinical improvements support healthcare practices and other business uses at this Orange Park property.
Property Size3,408 SF
Days on Market401
Property Features for 1906 Debarry Avenue
General Information
Standard status
Active
Size
3,408 SF
Property subtype
Commercial
Zoning
Professional/Office
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$7,430
Building Details
Building Size
3,408 SF
Year Built
1978
Buildings
1
Stories
1
Units
2
Listing Agency:
FORWARD REAL ESTATE INVESTMENT GROUP LLC
(904) 655-7778
Listed By:
LARRY BOYLES · License #3279114
(904) 655-7778
Source:
Modernrealtyputnam
Added: Jul 8, 2025
Changed: Aug 2
Last Checked: Aug 11 at 1:19PM
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 FORWARD REAL ESTATE INVESTMENT GROUP LLC
Investment Insights
Based on property information with market context.
Built in 1978, this medical office property at 1906 Debarry Avenue in Orange Park includes two separately configured units with existing clinical and administrative improvements. Unit 1 contains six patient rooms, three bathrooms, a kitchen and lab area, a private restroom, a doctor’s office with en-suite bath, a manager’s office, and storage closets. Unit 2 offers an EKG and patient room, X-ray room, utility room, kitchen, doctor’s office with en-suite bath, guest bathroom, lobby, waiting area, and additional storage.
The property includes parking and is positioned in Orange Park with access features described as convenient for patients. Its existing layout is suited to medical office use, while the source information also identifies potential for other business uses.
The property includes parking and is positioned in Orange Park with access features described as convenient for patients. Its existing layout is suited to medical office use, while the source information also identifies potential for other business uses.
Key Highlights
- Two‑unit medical office property in Orange Park
- Unit 1 includes 6 patient rooms and 3 bathrooms
- Unit 2 includes an EKG/patient room and X‑ray room
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
$47,726
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
3.98%
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%
$954,520
$954.5K
Cap Rate 7%
$681,800
$681.8K
Cap Rate 9%
$530,289
$530.3K
Market Conditions
NOI Build-Up for 3,408 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
$81.8K $24.00/SF
− Vacancy
−$18.2K −$5.33/SF
EGI
$63.6K $18.67/SF
− OpEx
−$15.9K −$4.67/SF
NOI
$47.7K $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%
$954,520
Cap Rate 7%
$681,800
Cap Rate 9%
$530,289
Alternative Uses
Best Use
Office B
$681.8K
$596.6K – $795.4K
NOI $47,726 @ 7.0% cap · market cap 3.98%
Second Best
Healthcare Medical
$647.8K
$566.8K – $755.8K
NOI $45,345 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$909.1K
$795.4K – $1.06M
NOI $63,634 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Well-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
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?
Medical Office Space - Existing clinical improvements support healthcare practices and other business uses at this Orange Park property.
Where is this medical office space located?
The property is located at 1906 Debarry Avenue Orange Park, FL.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Two‑unit medical office property in Orange Park; Unit 1 includes 6 patient rooms and 3 bathrooms; Unit 2 includes an EKG/patient room and X‑ray room
