Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    172 San Marco Ave Saint Augustine, FL 32084-2732

    • Turn key restaurants
    • 3,100 SF
    • 0.39 lot acres
    OFF-MARKET
    Last Sale
    May 24, 2021
    $890,000
    Value Estimations
    $965,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0323231
    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.

    Current Use by Public Records

    • Cortesse's Bistro and Flamingo Room Piano Bar / Mediterranean Restaurant / Piano Bar

    Property Details for 172 San Marco Ave

    Year built
    1920
    Construction
    WOOD
    Lot size
    0.39 lot acres
    Property size
    3,100 SF
    Zone code
    CL2
    Property type
    Turn key restaurants
    APN
    189630 0000
    APU
    1896300000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $935,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,446,000
      Market price range: $857k - $2.10M
      AI Estimate
      $1,446,000
      Market price range: $857k - $2.10M

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

    Location Insight

    • Map
    • Local Demand
    City
    Saint Augustine
    County
    St. Johns
    State
    Florida
    Longitude
    -81.3205
    Latitude
    29.9088
    CBSA code
    27260
    CBSA name
    JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $16,928
    $0.00
    $0.00
    $965,353
    -
    $513,600
    $451,753
    $965,353

    Comparable in this City

    • Value Estimation by Request
      6,781 SF

      102 San Marco Ave

      RESTAURANT • 6,781 SF
      102 San Marco Ave, Saint Augustine, FL 32084-3261
      View Details
    • Value Estimation by Request
      3,825 SF

      118 Avenida Menendez

      RESTAURANT • 3,825 SF
      118 Avenida Menendez, Saint Augustine, FL 32084-4403
      View Details
    • Value Estimation by Request
      3,040 SF

      25 Cuna St

      RESTAURANT • 3,040 SF
      25 Cuna St, Saint Augustine, FL 32084-3603
      View Details
    • Value Estimation by Request
      1,563 SF

      25 Granada St

      RESTAURANT • 1,563 SF
      25 Granada St, Saint Augustine, FL 32084-4387
      View Details
    • Value Estimation by Request
      6,991 SF

      Saint Augustine, FL 32084

      RESTAURANT • 6,991 SF
      Saint Augustine, FL 32084
      View Details
    • Value Estimation by Request
      2,151 SF

      140 San Marco Ave

      RESTAURANT • 2,151 SF
      140 San Marco Ave, Saint Augustine, FL 32084-3265
      View Details

    Similar Nearby for Sale

    • $3,447,000
      3,200 SF

      Starbucks Leased Investment Opportunity

      Starbucks NNN lease with renewal options in St. Augustine.
      1681 Us Highway 1 S, St Augustine, FL 32084
      View Details
    • $1,350,000
      0.29 Acres

      Adaptable Commercial Space in St. Augustine

      Unique 5,746 SF property suitable for various business ventures.
      3 Davis St, St Augustine, FL 32084
      View Details
    • $749,000

      West Augustine Commercial Property

      Historic property in trendy West Augustine district with income potential.
      40 S Dixie Hwy, St Augustine, FL 32084
      View Details
    • $1,950,000
      2,156 SF

      47 Cordova St

      Individual retail properties • 2,156 SF
      47 Cordova St, St. Augustine, FL 32084
      View Details
    • $3,447,000
      0.85 Acres

      St. Augustine Starbucks Investment

      High-yield, Net Lease Starbucks.
      1685 Us Highway 1, St. Augustine, FL 32084
      View Details
    • $1,290,000

      Downtown St. Augustine Mixed-Use

      Prime waterfront location, two units, boat slips.
      601 Ponce De Leon Blvd, St. Augustine, FL 32084
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      1,000 SF

      Historic Commercial Space in St. Augustine

      Charming 1920s commercial space in St. Augustine's Lincolnville district.
      97 M L King Ave, St Augustine, FL 32084
      View Details
    • $900 /Mo
      2,156 SF

      47 Cordova St

      Restaurants
      47 Cordova St, St. Augustine, FL 32084
      View Details
    • Contact for pricing

      45 Village Crossing Ct

      Land
      45 Village Crossing Ct, St. Augustine, FL 32084
      View Details
    • $300 /Mo
      9,000 SF

      Historic San Marco Commercial Space

      Uptown St. Augustine gem: lease now!
      239 San Marco Ave, St. Augustine, FL 32084
      View Details
    • $10 SF/Yr
      8,320 SF

      St. Augustine Flex Space - 8,320 SF

      Prime St. Augustine flex space, 1.33 acres.
      840 King St, St. Augustine, FL 32084
      View Details
    • Contact for pricing
      12,876 SF

      St. Augustine Retail Strip Center

      Prime St. Augustine location, renovated shopping center.
      1590 Us Highway 1, St. Augustine, FL 32084
      View Details
    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.
    172 San Marco Ave
    Saint Augustine, FL 32084-2732
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.