Freestanding Office
For Sale
$385,000
2800 N 1st St Saint, Saint Augustine, FL 32084
For-sale office building at 2800 N 1st St, suited for small professional teams and office tenants.
Property Size1,081 SF
Days on Market49
Property Features for 2800 N 1st St Saint
General Information
Standard status
Active
Size
1,081 SF
Class
C
Property subtype
Office
Building Details
Building Size
1,081 SF
Year Built
1973
Listing Agency:
Prime Realty
(904) 534-1523
Listed By:
Brent Dennis · License #3382471
(904) 534-1523
Source:
Primerealtyinc
Added: Jun 25
Changed: Aug 11
Last Checked: Aug 12 at 4:41AM
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 Prime Realty
Investment Insights
Based on property information with market context.
This for-sale commercial property is an office building offered as office space in a straightforward, tenant-ready format for professional use. The offering is categorized under office buildings and office spaces, making it appropriate for organizations seeking dedicated indoor working space rather than a specialized retail or industrial layout.
The property is located at 2800 N 1st St in Saint Augustine, Florida. The address provides direct access for office operations and supports straightforward tenant coordination for showings, pickups, and deliveries tied to everyday business needs.
Prospective tenants, buyers, and brokers can evaluate the property for office-based requirements where a conventional office environment matters. As an office-focused asset, it may be a fit for professional services, administrative functions, and other workplace uses that benefit from an office building setting. Interested parties should review the current space details and finish levels during due diligence to confirm suitability for their specific operational needs and branding requirements.
The property is located at 2800 N 1st St in Saint Augustine, Florida. The address provides direct access for office operations and supports straightforward tenant coordination for showings, pickups, and deliveries tied to everyday business needs.
Prospective tenants, buyers, and brokers can evaluate the property for office-based requirements where a conventional office environment matters. As an office-focused asset, it may be a fit for professional services, administrative functions, and other workplace uses that benefit from an office building setting. Interested parties should review the current space details and finish levels during due diligence to confirm suitability for their specific operational needs and branding requirements.
Key Highlights
- Office building built in 1973
- Commercial office location at 2800 N 1st St
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
$15,138
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
3.93%
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%
$302,760
$302.8K
Cap Rate 7%
$216,257
$216.3K
Cap Rate 9%
$168,200
$168.2K
Market Conditions
NOI Build-Up for 1,081 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
$25.9K $24.00/SF
− Vacancy
−$5.8K −$5.33/SF
EGI
$20.2K $18.67/SF
− OpEx
−$5.0K −$4.67/SF
NOI
$15.1K $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%
$302,760
Cap Rate 7%
$216,257
Cap Rate 9%
$168,200
Alternative Uses
Best Use
Office B
$216.3K
$189.2K – $252.3K
NOI $15,138 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$288.3K
$252.3K – $336.4K
NOI $20,184 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Explore this area
Business Placement
Demographics for 32084, FL
34,526
Population
17,839
Households
1.9
Avg Household Size
45
Median Age
32%
College-Educated
91%
High-School Grad
45.1 sq mi
ZIP Area
766
Density / Sq Mi
$72,965
Median Household Income
$38,611
Median Earnings
$1,534
Median Rent
$295,000
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?
Office building - For-sale office building at 2800 N 1st St, suited for small professional teams and office tenants.
Where is this office building located?
The property is located at 2800 N 1st St Saint Saint Augustine, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Office building built in 1973; Commercial office location at 2800 N 1st St
