Tenant-Occupied Office
For Sale
$600,000
859 Park Ave Unit 102, Orange Park, FL 32073
Flexible commercial workspace near US-17 with private offices, conference areas, reception, and collaborative areas.
Property Size3,072 SF
Price / SF$195.31
Days on Market173
Property Features for 859 Park Ave Unit 102
General Information
Standard status
Active
Size
3,072 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1988
Listing Agency:
COLDWELL BANKER VANGUARD REALTY
(904) 518-8806
Listed By:
GARRETT SHANE STEWART
Source:
Jacksonvilleflhomeguide
Added: Mar 10
Changed: Aug 28
Last Checked: Aug 29 at 10:28AM
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 COLDWELL BANKER VANGUARD REALTY
Investment Insights
Based on property information with market context.
This tenant-occupied office unit contains 3,072 square feet within a flexible commercial layout. The interior includes private offices, conference rooms, reception space, and areas designed for collaborative work. The configuration supports professional, medical, legal, and general business operations as described in the property information.
The unit is located at 859 Park Ave Unit 102 in Orange Park, just off US-17. Its setting provides access to major roadways, retail, dining, and surrounding business centers. The property was built in 1988.
The unit is located at 859 Park Ave Unit 102 in Orange Park, just off US-17. Its setting provides access to major roadways, retail, dining, and surrounding business centers. The property was built in 1988.
Key Highlights
- 3,072‑square‑foot office unit
- Currently tenant‑occupied
- Located just off US‑17
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
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
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Frequently Asked Questions
What type of property is this?
Office units - Flexible commercial workspace near US-17 with private offices, conference areas, reception, and collaborative areas.
Where is this office units located?
The property is located at 859 Park Ave Unit 102 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‑square‑foot office unit; Currently tenant‑occupied; Located just off US‑17
