St. Augustine Office For
344 PASEO REYES Drive 703 St Augustine, FL 32095
For Sale
Contact for pricing
Commercial office in Palencia Commons, St. Augustine, suitable for professional/medical.
Property Size1,125 SF
Price / SF$333.33
Days on Market251
Property Features for 344 PASEO REYES Drive 703
General Information
Standard status
Active
Size
1,125 SF
Property subtype
Office, Mixed Use, Industrial
Building Details
Year Built
2008
Listing Agency:
EXP REALTY LLC
Listed By:
MICHELLE MURRAY · License #3407576
Source:
Crexi
Added: Nov 18, 2025
Changed: Jul 10
Last Checked: Jul 24 at 6:13PM
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 EXP REALTY LLC
Investment Insights
Based on property information with market context.
This commercial office unit is located in Palencia Commons of St. Augustine. The corner unit features five private offices and a lobby/reception area. The property is suitable for professional or medical use. The building features Spanish-style architecture. The location within the Palencia community provides visibility, access, and traffic. The property size is 1125 square feet.
Key Highlights
- Prime location in the highly desirable Palencia Commons of St. Augustine.
- Well‑maintained corner unit with excellent visibility and easy access.
- Five individual private offices, ideal for professional or medical use.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.0k | $24.00 |
| − Vacancy | −$6.0k | −$5.33 |
| EGI | $21.0k | $18.67 |
| − OpEx | −$5.3k | −$4.67 |
| NOI | $15.8k | $14.00 |
1,125 SF · lease $24.00/SF/yr · vacancy 22.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$225.1K
$196.9K – $262.6K
NOI $15,755 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$300.1K
$262.6K – $350.1K
NOI $21,006 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Commercial office in Palencia Commons, St. Augustine, suitable for professional/medical.
Where is this office units located?
The property is located at 344 PASEO REYES Drive 703 St Augustine, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Prime location in the highly desirable Palencia Commons of St. Augustine.; Well‑maintained corner unit with excellent visibility and easy access.; Five individual private offices, ideal for professional or medical use.
