Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    155 Palencia Village Dr St Augustine, FL 32095

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail center with flexible floorplans, ideal for diverse businesses.

    Type:Retail, Office, Restaurant
    Added:
    Aug 24, 2024
    Days on Market:
    601
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 155 Palencia Village Dr

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office, Restaurant

    Building Details

    Year Built
    2007

    Spaces For Lease

    at 155 Palencia Village Dr Contact us

    Suite 101 $37 /Mo

    Size
    1,521 SF
    Type
    Retail, Office, Restaurant
    Contact us

    We can help!

    Listing Contact
    Kayla Deguzman

    Listing agent Kayla Deguzman License #FL

    Listing office Cantrell & Morgan

    Listing date Aug 24, 2024

    Source Crexi

    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 Cantrell & Morgan

    Overview

    Starbucks-Anchored Retail Center For Lease

    Mercado Walk is a Starbucks-anchored retail center located at the main entrance of the Palencia Community. It is currently undergoing renovations and offers a variety of flexible floorplans to suit diverse business needs. Available space includes a 2nd generation medical space, suitable for healthcare providers. The property is located in Saint Johns County, one of the fastest-growing and most affluent areas in Florida. The county has one of the highest per capita and median household incomes in the state.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Starbucks Cafe & Coffee Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    St Augustine
    County
    St. Johns
    State
    Florida
    Longitude
    -81.3921711
    Latitude
    30.0138894

    Nearby Similar for Lease

    • Contact for pricing

      Retail Space in St Augustine

      1,500 SF retail space available for lease in St. Augustine.
      9155 County Road 13 N, St Augustine, FL 32092
      View Details
    • Contact for pricing

      Medical Office Space For Lease

      Well-designed medical suite near Flagler Hospital, move-in ready.
      252 SOUTHPARK CIRCLE, St Augustine, FL 32086-0000
      View Details
    • Contact for pricing

      New Commercial Space on US1

      New construction commercial space for lease in St. Augustine, FL.
      5900 US HIGHWAY 1 S, St. Augustine, FL 32086
      View Details
    • Contact for pricing

      St Augustine Medical/Office Space

      Office space in Southpark Medical Complex, St Augustine, FL.
      150 Southpark Boulevard, St Augustine, FL 32086
      View Details
    • Contact for pricing

      Historic Commercial Space in St. Augustine

      Charming 1920s commercial space in St. Augustine's Lincolnville district.
      97 M L KING Avenue, St. Augustine, FL 32084
      View Details
    • $23,750/mo

      Prime Location in St. Augustine Shores

      Exceptional neighborhood accessibility in a growing residential community.
      481 Shores Blvd., St Augustine, FL 32086
      View Details
    • Contact for pricing

      St Augustine Office Space Available

      Renovated office space in ideal location, 1,025 sq. ft.
      5098 B A1a, St Augustine, FL 32080
      View Details
    • Contact for pricing

      St. Augustine Professional Office Condo

      Professional office condo for lease in World Golf Village.
      135 LAND GRANT Street, St. Augustine, FL 32092
      View Details
    • $22/mo

      St. Augustine Medical/Office Space

      2600 SF medical/office space for lease near Flagler Hospital.
      165 SOUTHPARK BOULEVARD, ST AUGUSTINE, FL 32086
      View Details
    • Contact for pricing

      St. Augustine Retail Opportunity

      Retail space with upstairs apartment near Flagler College.
      308 S Ponce De Leon Blvd, St Augustine, FL 32080
      View Details
    • $31/mo

      Retail Space in St. Augustine

      Retail space available in a busy St. Augustine shopping center.
      170 Village Commons Dr, St. Augustine, FL
      View Details
    • Contact for pricing

      St. Augustine New Construction Office

      New office building in high-income area, flexible suite sizes.
      481 A Shores Blvd., St Augustine, FL 32086
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail center with flexible floorplans, ideal for diverse businesses.
    Where is this retail space located?
    The property is located at 155 Palencia Village Dr St Augustine, FL.
    What are key features of this property?
    This property features: Located in Saint Johns County, one of the fastest‑growing and most affluent areas in Florida.; Anchored by Starbucks at the entrance to the Palencia Community.; 2nd generation medical space available, ideal for healthcare providers.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kayla Deguzman
    Real Estate License ID: FL
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!