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    1217 Park Ave Orange Park, FL 32073
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    Property profile & analytics

    1217 Park Ave, Orange Park, FL 32073

    View on Map
    • Commercial real estate
    • 1.30 lot acres
    Off-Market
    Property ID
    US18-0460386
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Admiral Apartments / Apartment Building
    • Jacksonville's Rev. James, Officiant / Wedding Service

    Property Details for 1217 Park Ave

    Year built
    1963
    Lot size
    1.30 lot acres
    Property type
    Commercial real estate

    Description

    Admiral Apartments presents a compelling investment opportunity in the desirable Orange Park, Florida market. This stabilized, Class B multifamily property boasts 30 units spread across two, two-story buildings situated on a 1.3-acre lot. Built in 1963 and extensively renovated in 2016 and 2020, the property enjoys a prime location on Park Avenue (US Hwy 17), a main thoroughfare offering excellent visibility and exposure. Its suburban infill location provides a high barrier to entry for competitors. The property benefits from its proximity to the water and convenient access to area employment centers. Currently operating at 100% occupancy, this asset offers immediate cash flow and significant potential for future growth. The permitted zoning is multifamily, allowing for continued use as an apartment building. A video tour is available for viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Orange Park
    County
    Clay
    State
    Florida
    Longitude
    -81.7008978
    Latitude
    30.1746624

    Comparable in this City

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      Updated Condo with River Views

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      Orange Park Office Investment Opportunity

      Fully occupied office building with long-term leases in Orange Park.
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    Similar Nearby for Sale

    • $600,000
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      Multi-Unit Property in Orange Park

      Multi-unit property with long-term tenants in Orange Park, Florida.
      218 Loring Ave, Orange Park, FL 32073
      View Details
    • $475,000
      3,686 SF

      Orange Park Multifamily Opportunity

      Multifamily property in Orange Park with income potential.
      482 Bentwood Ln, Orange Park, FL 32073
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    • $485,000
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      Orange Park Quad Multifamily Property

      Fully occupied quad in a desirable Orange Park location.
      471 Lombard St, Orange Park, FL 32073
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    • Contact for pricing

      Orange Park Multifamily Property

      Multifamily property in Orange Park, Florida, with suburban infill location.
      220 Stowe Ave, Orange Park, FL 32073
      View Details
    • Contact for pricing
      Pending

      Updated Condo with River Views

      Updated condo with river views, modern amenities, and convenient parking.
      2201 Astor St, Orange Park, FL 32073
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    • $899,000
      5,092 SF

      Orange Park Office Investment Opportunity

      Fully occupied office building with long-term leases in Orange Park.
      2301 Park Ave, Orange Park, FL 32073
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    Similar Nearby for Lease

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      17,563 SF

      Single Story Office Building

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      Commercial Land Ground Lease Available

      0.65 acres with 2,460 SF building available for ground lease.
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      Retail Space Near Orange Park Mall

      Strip center space for rent near Orange Park Mall.
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      Retail Space in Orange Park

      Retail space available in a shopping center with ample parking.
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      6,000 SF

      Retail Space on Blanding Blvd

      High-visibility retail space in a high-traffic area on Blanding Blvd.
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    1217 Park Ave
    Orange Park, FL 32073
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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
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