Remodeled Coworking
For Sale
$1,200,000
Pending
701 Market St Unit 111, St Augustine, FL 32095
Remodeled coworking property with an existing tenant and lease escalations in place.
Property Size3,255 SF
Days on Market64
Property Features for 701 Market St Unit 111
General Information
Standard status
Pending
Size
3,255 SF
Property subtype
Commercial
Additional Details
Cap Rate
8%
Building Details
Year Built
2007
Listing Agency:
EXIT MAGNOLIA POINT REALTY
Listed By:
DOUGLAS SENECAL · License #3539193
(478) 390-3531
Source:
Myfirstcoasthomesearch
Added: Aug 5
Changed: Oct 1
Last Checked: Oct 7 at 12:25PM
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 EXIT MAGNOLIA POINT REALTY
Investment Insights
Based on property information with market context.
This coworking property at 701 MARKET Street Unit 111 was built in 2007 and has undergone a full remodel. An existing tenant occupies the space, with lease escalations in place. The property is positioned as an operating coworking asset with an 8 Cap ROI stated in the available information.
Key Highlights
- Full remodel completed
- Existing tenant in place
- Lease escalations included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,583
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$911,660
$911.7K
Cap Rate 7%
$651,186
$651.2K
Cap Rate 9%
$506,478
$506.5K
Market Conditions
NOI Build-Up for 3,255 SF
Gross rent
$78.1K $24.00/SF
− Vacancy
−$17.3K −$5.33/SF
EGI
$60.8K $18.67/SF
− OpEx
−$15.2K −$4.67/SF
NOI
$45.6K $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 Rate 5%
$911,660
Cap Rate 7%
$651,186
Cap Rate 9%
$506,478
Alternative Uses
Best Use
Office B
$651.2K
$569.8K – $759.7K
NOI $45,583 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$868.2K
$759.7K – $1.01M
NOI $60,777 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 32095, FL
16,607
Population
6,997
Households
2.4
Avg Household Size
42
Median Age
53%
College-Educated
96%
High-School Grad
57.4 sq mi
ZIP Area
289
Density / Sq Mi
$124,556
Median Household Income
$51,986
Median Earnings
$1,576
Median Rent
$485,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Coworking space - Remodeled coworking property with an existing tenant and lease escalations in place.
Where is this coworking space located?
The property is located at 701 Market St Unit 111 St Augustine, 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: Full remodel completed; Existing tenant in place; Lease escalations included
