Tenant-Occupied Medical Office
For Sale
$600,000
859 PARK Avenue, Orange Park, FL 32073
Commercial Sale, Orange Park, FL
Property Size3,072 SF
Lot Size0.10 Acres
Price / SF$195.31
Days on Market97
Property Features for 859 PARK Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning description
Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking features
Parking Lot
Lot features
Cleared
Directions
Use the right 2 lanes to take the exit toward US-17 S,Use the left 3 lanes to take the ramp to US-17 S,Use any lane to turn left onto US-17 S,Keep left to continue on US-17 S/Park Ave, turn left Destination will be on the left.
Subdivision
133-North Orange Park
Standard status
Active
APN
41042601859500000
Size
3,072 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5181
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1988
Floors in Building
1
Number of units
1
Building materials
Stucco
Listing Agency:
COLDWELL BANKER VANGUARD REALTY · Coldwell Banker Real Estate
(904) 269-7117
Listed By:
GARRETT SHANE STEWART
(904) 518-8806
Added: May 18
Changed: Aug 19
Last Checked: Aug 22 at 5:06PM
MLS# 2146114
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.
Tenant-occupied medical office space totaling 3,072 square feet on a 0.1-acre lot at 859 Park Avenue in Orange Park, FL. The building features stucco construction and was built in 1988, with central heating and central air conditioning. The layout is described as flexible and designed to support professional and medical uses, including private offices, conference rooms, reception areas, and collaborative workspaces, along with multiple bathrooms (Bathroom 1, Bathroom 2, and Bathroom 3).
The unit is located just off US-17 in a highly visible, convenient area. On-site parking is provided via a parking lot. Public water and public sewer services are available.
As presented, the property can serve as an income-producing investment with the option for future owner-use, with the existing interior configuration aimed at office operations and client-facing services.
The unit is located just off US-17 in a highly visible, convenient area. On-site parking is provided via a parking lot. Public water and public sewer services are available.
As presented, the property can serve as an income-producing investment with the option for future owner-use, with the existing interior configuration aimed at office operations and client-facing services.
Key Highlights
- 3,072 SF tenant‑occupied medical office space
- 0.1‑acre lot with parking lot on site
- Located just off US‑17 in a highly visible area
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
$43,020
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
7.17%
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%
$860,400
$860.4K
Cap Rate 7%
$614,571
$614.6K
Cap Rate 9%
$478,000
$478.0K
Market Conditions
NOI Build-Up for 3,072 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
$73.7K $24.00/SF
− Vacancy
−$16.4K −$5.33/SF
EGI
$57.4K $18.67/SF
− OpEx
−$14.3K −$4.67/SF
NOI
$43.0K $14.00/SF
Area
Clay 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%
$860,400
Cap Rate 7%
$614,571
Cap Rate 9%
$478,000
Alternative Uses
Best Use
Office B
$614.6K
$537.8K – $717.0K
NOI $43,020 @ 7.0% cap · market cap 7.17%
Second Best
Healthcare Medical
$583.9K
$510.9K – $681.3K
NOI $40,875 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$819.4K
$717.0K – $956.0K
NOI $57,360 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
617
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32073, FL
43,527
Population
17,301
Households
2.5
Avg Household Size
41
Median Age
27%
College-Educated
92%
High-School Grad
16.8 sq mi
ZIP Area
2,591
Density / Sq Mi
$76,139
Median Household Income
$40,947
Median Earnings
$1,392
Median Rent
$258,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Tenant-occupied medical office space with central heating and central air, plus on-site parking lot access just off US-17.
Where is this medical office space located?
The property is located at 859 PARK Avenue Orange Park, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,072 SF tenant‑occupied medical office space; 0.1‑acre lot with parking lot on site; Located just off US‑17 in a highly visible area
