2021-Built Apartment
For Sale
$3,200,000
806 Oak St, Green Cove Springs, FL 32043
Seventeen-unit multifamily property with varied floor plans and approved future garage development.
Property Size18,437 SF
Price / SF$173.56
Days on Market86
Property Features for 806 Oak St
General Information
Standard status
Active
Size
18,437 SF
Units
Unit Mix
4 x 3BR/2BA, 9 x 2BR+office/2BA, 4 x 2BR/1BA
Multifamily Units
17
Additional Details
Highway Access
Yes
Building Details
Year Built
2021
Listing Agency:
NORTH FLORIDA REALTY ADVISORS
Listed By:
STANLEY H BISHOP · License #3131038
(904) 237-2933
Source:
Onewinningteam
Added: Jul 21
Changed: Oct 10
Last Checked: Oct 7 at 1:38PM
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 NORTH FLORIDA REALTY ADVISORS
Investment Insights
Based on property information with market context.
Located at 806 Oak St in Green Cove Springs, this apartment property was completed in 2021 and contains 17 units. The unit mix includes four three-bedroom, two-bath apartments; nine two-bedroom, two-bath apartments with an office; and four two-bedroom, one-bath apartments. Foam insulation in the attic supports the building’s energy-efficiency design.
The site is approved for eight single-car garages, providing an additional development component. An appraisal is on file. Regional growth includes more than 10,000 approved homes within a 2-mile radius, while an outbeltway expressway extension is nearby. The property is positioned in Green Cove Springs, a riverfront community with warm mineral springs, parks, and access to the St. Johns River.
The site is approved for eight single-car garages, providing an additional development component. An appraisal is on file. Regional growth includes more than 10,000 approved homes within a 2-mile radius, while an outbeltway expressway extension is nearby. The property is positioned in Green Cove Springs, a riverfront community with warm mineral springs, parks, and access to the St. Johns River.
Key Highlights
- 17 total apartment units completed in 2021
- Unit mix includes four 3BR/2BA, nine 2BR plus office/2BA, and four 2BR/1BA apartments
- Site approved for eight single‑car garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,103
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,882,060
$2.9M
Cap Rate 7%
$2,058,614
$2.1M
Cap Rate 9%
$1,601,144
$1.6M
Market Conditions
NOI Build-Up for 18,437 SF
Gross rent
$289.8K $15.72/SF
− Vacancy
−$27.8K −$1.51/SF
EGI
$262.0K $14.21/SF
− OpEx
−$117.9K −$6.39/SF
NOI
$144.1K $7.82/SF
Area
Clay County, FL
Vacancy
9.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,882,060
Cap Rate 7%
$2,058,614
Cap Rate 9%
$1,601,144
Alternative Uses
Best Use
Apartment 5plus
$2.06M
$1.80M – $2.40M
NOI $144,103 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.92M
$4.30M – $5.74M
NOI $344,256 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
17
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 32043, FL
30,369
Population
13,331
Households
2.3
Avg Household Size
41
Median Age
31%
College-Educated
92%
High-School Grad
229.3 sq mi
ZIP Area
132
Density / Sq Mi
$80,698
Median Household Income
$46,310
Median Earnings
$1,370
Median Rent
$292,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Seventeen-unit multifamily property with varied floor plans and approved future garage development.
Where is this apartment building located?
The property is located at 806 Oak St Green Cove Springs, FL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 17 total apartment units completed in 2021; Unit mix includes four 3BR/2BA, nine 2BR plus office/2BA, and four 2BR/1BA apartments; Site approved for eight single‑car garages
