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    Cutoff Dobbs Rd St. Augustine, FL 32086

    Sponsored
    For Sale
    $1,600,000

    Frisco medical/executive office space available.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    Heritage Park 300 offers exceptional office space in the thriving East Frisco submarket. This Class B building, completed in 2023, boasts 12,138 square feet with multiple tenancy options. Currently, 6,529 square feet of contiguous space is available, divisible down to 1,180 square feet. Units are in shell condition, allowing for substantial tenant improvements. Each suite features private restrooms, waiting areas, and HVAC systems, eliminating shared common spaces, lobbies, or elevators. Ample surface parking and 24-hour access are provided. The building enjoys a visually appealing design and high-quality construction, situated on the southwest corner of Eldorado Parkway and Independence Parkway. This prime location benefits from exceptional access and visibility, with building signage available. The area boasts over 100,000 residents within a 3-mile radius, exhibiting an average household income of $150,000. Its proximity to major medical facilities (Methodist McKinney, Texas Health Frisco, Medical City Frisco, Baylor Scott & White - Frisco & Centennial, Scottish Rite) and corporate giants (Toyota North American HQ, JP Morgan Chase, Dallas Cowboys HQ - The Star) makes it an ideal location. The property also benefits from its close proximity to the Shops at Legacy and Grandcape mixed-use development. Convenient access to DFW and Love Field airports within 30 minutes completes this compelling offering. Limited available space makes this a rare opportunity. Ceiling heights are 11 feet.

    Property Features for Cutoff Dobbs Rd

    General Information

    Property type
    Land
    Lot Size
    147,233 SF

    HighLights

    • 12,138 SF Class B medical/professional office building, newly constructed in 2023.
    • Multiple suites available, ranging from 1,180 SF to a maximum contiguous 6,529 SF (currently vacant).
    • Located in the East Frisco submarket at the southwest corner of Eldorado Parkway and Independence Parkway.
    • Building features 11' ceilings, private restrooms, waiting areas, HVAC systems, surface parking, and 24‑hour access.
    • Excellent location near major residential areas, hospitals (Methodist McKinney, Texas Health Frisco, Medical City Frisco, Baylor Scott & White), and corporate campuses (Toyota, JP Morgan Chase, Dallas Cowboys HQ).
    • Close proximity to DFW and Love Field airports.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    St. Augustine
    County
    St. Johns
    State
    Florida
    Longitude
    -81.3391623
    Latitude
    29.8640616

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    FAQs

    What type of property is this?
    Land - Frisco medical/executive office space available.
    Where is this land located?
    The property is located at Cutoff Dobbs Rd St. Augustine, FL.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: 12,138 SF Class B medical/professional office building, newly constructed in 2023.; Multiple suites available, ranging from 1,180 SF to a maximum contiguous 6,529 SF (currently vacant).; Located in the East Frisco submarket at the southwest corner of Eldorado Parkway and Independence Parkway.
    (904) 302-6943
    Request Owner's contact information
    Cutoff Dobbs Rd St. Augustine, FL 32086
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    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
    Cutoff Dobbs Rd St. Augustine, FL 32086
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