Mixed-Use Building in Orange
For Sale
$1,350,000
653 Kingsley Avenue, Orange Park, FL 32073
Commercial building with office and warehouse space in Orange Park.
Property Size7,100 SF
Lot Size0.64 Acres
Price / SF$190.14
Days on Market1060
Property Features for 653 Kingsley Avenue
General Information
Standard status
Active
Size
7,100 SF
Lot size
0.64 Acres
Property subtype
Commercial
Building Details
Building Size
7,100 SF
Year Built
1981
Stories
1
Listing Agency:
WATSON REALTY CORP
(904) 264-9526
Listed By:
PAT LEROY · License #708516
(904) 705-8802
Source:
Giffordproperties
Added: Oct 16, 2023
Changed: Sep 8
Last Checked: Aug 17 at 4:06PM
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 WATSON REALTY CORP
Investment Insights
Based on property information with market context.
This commercial building is located in the heart of Orange Park and is zoned CG. The property features a mixed-use layout, consisting of approximately three-quarters air-conditioned office space and one-quarter warehouse space. The office space and kitchen area (break room) are equipped with central air conditioning. The lot measures 70 feet by 400 feet, providing ample parking on the side and in the rear. The warehouse area has 13-foot ceilings, while the office space has 8-foot ceilings. The warehouse includes two 10-foot roll-up doors and fluorescent lighting. The building contains two bathrooms. An air compressor in the warehouse will remain with the property. The total property size is 7100 square feet.
Key Highlights
- Zoned CG (Commercial General) in the heart of Orange Park.
- Combination of A/C office space and warehouse.
- Plenty of parking on the side and in the rear.
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
$99,428
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
7.37%
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%
$1,988,560
$2.0M
Cap Rate 7%
$1,420,400
$1.4M
Cap Rate 9%
$1,104,756
$1.1M
Market Conditions
NOI Build-Up for 7,100 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
$170.4K $24.00/SF
− Vacancy
−$37.8K −$5.33/SF
EGI
$132.6K $18.67/SF
− OpEx
−$33.1K −$4.67/SF
NOI
$99.4K $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%
$1,988,560
Cap Rate 7%
$1,420,400
Cap Rate 9%
$1,104,756
Alternative Uses
Best Use
Office B
$1.42M
$1.24M – $1.66M
NOI $99,428 @ 7.0% cap · market cap 7.37%
Second Best
Mixed Use
$1.29M
$1.13M – $1.51M
NOI $90,525 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$1.89M
$1.66M – $2.21M
NOI $132,571 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,122
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?
Mixed-use property - Commercial building with office and warehouse space in Orange Park.
Where is this mixed-use property located?
The property is located at 653 Kingsley Avenue Orange Park, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Zoned CG (Commercial General) in the heart of Orange Park.; Combination of A/C office space and warehouse.; Plenty of parking on the side and in the rear.
