Corner Medical Office
344 PASEO REYES Drive St Augustine, FL 32095
For Sale
$375,000
Pending
COMMERCIAL - St. Augustine, FL
Property Size1,125 SF
Days on Market251
Property Features for 344 PASEO REYES Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
1
Rooms
Bathroom 1
Parking features
Assigned, Parking Lot
Standard status
Pending
APN
0724240703
Size
1,125 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5080
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2008
Floors in Building
1
Flooring type
Carpet, Tile
Roof type
Tile
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
MICHELLE MURRAY
(786) 338-0738
Added: Nov 18, 2025
Changed: Jul 14
Last Checked: Jul 27 at 10:06AM
MLS# 2119322
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained corner office unit is located within Palencia Commons and features five individual private offices plus a lobby/reception area. The layout is designed to support professional operations, and the property is described as well-suited for medical use as well.
The building is presented with Spanish-style architecture, and the unit benefits from the corner positioning. Public remarks also note excellent visibility, easy access, and steady traffic within the Palencia community.
For a buyer seeking a compact office configuration with dedicated private rooms and a reception space, this suite offers a straightforward internal setup in a community commercial setting.
The building is presented with Spanish-style architecture, and the unit benefits from the corner positioning. Public remarks also note excellent visibility, easy access, and steady traffic within the Palencia community.
For a buyer seeking a compact office configuration with dedicated private rooms and a reception space, this suite offers a straightforward internal setup in a community commercial setting.
Key Highlights
- Corner commercial office unit in Palencia Commons, St. Augustine
- Includes lobby/reception area plus five individual private offices
- Well‑maintained Spanish‑style architecture at the building
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
Healthcare Medical
$213.8K
$187.1K – $249.5K
NOI $14,969 @ 7.0% cap · market cap 3.99%
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 - Well-maintained corner office unit with five private offices and a lobby/reception area in Palencia Commons.
Where is this office units located?
The property is located at 344 PASEO REYES Drive 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: Corner commercial office unit in Palencia Commons, St. Augustine; Includes lobby/reception area plus five individual private offices; Well‑maintained Spanish‑style architecture at the building
