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    1941 Citrona Dr Fernandina Beach, FL 32034-4414

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    1941 Citrona Dr Fernandina Beach, FL 32034-4414

    View on Map
    • Office buildings
    • 4,810 SF
    • 0.56 lot acres
    Off-Market
    Last Sale Jan 6, 2025
    $950,000
    Property ID
    US18-5770841
    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
    $950,000
    Show details
    Cap Rate Potential
    7.8%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Office buildings

    Property Details for 1941 Citrona Dr

    Year built
    2000
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.56 lot acres
    Property size
    4,810 SF
    Zone code
    MU-1
    Property type
    Office buildings
    APN
    00-00-31-124G-000E-0000
    APU
    000031124G000E0000

    Description

    This exceptional Class A office building, constructed in 2000 and renovated in 2019, offers 1,852 square feet of versatile space in Fernandina Beach, Florida. Located on Citrona Dr in Nassau County, this single-tenant property boasts a tranquil setting with beautiful lake views. The building features five private offices ranging from 120 to 219 square feet, complemented by shared amenities including a modern conference room, a well-equipped kitchenette, restrooms, and a reception area. With nineteen total parking spaces, ample parking is readily available. The building is a one-story structure and does not include elevators. Ideal for a variety of professional services, including legal, medical, or personal services businesses, this turnkey space provides immediate occupancy. Pricing is tailored to the specific number of offices and shared spaces utilized, along with agreed-upon utility expenses. The property's 32034 zip code and convenient location make it an attractive option for businesses seeking a prestigious and functional workspace. Inquire today for detailed pricing and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $925,000
      ML approach
      $975,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,200,000
      6.5%
      $1,105,000
      7%
      $1,025,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $851,000
      Market price range: $701k - $1.54M
      AI Estimate
      $668,000
      Market price range: $514k - $1.25M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,130,000
      Current use
      COMMERCIAL (GENERAL)
      $1,470,000
      Change: +30% Conversion: Easy
      RETAIL STORES
      $1,100,000
      Change: -3% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Fernandina Beach
    County
    Nassau
    State
    Florida
    Longitude
    -81.4492
    Latitude
    30.643
    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
    $11,302
    $163,583
    $522,207
    $685,790
    -
    $163,583
    $522,207
    $685,790

    Comparable in this City

    • Value Estimation
      $3,635,000
      27,549 SF

      1901 Is Walk Way

      OFFICE BUILDING • 27,549 SF
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      View Details
    • Value Estimation by Request
      1,338 SF

      3163 Bailey Rd

      OFFICE BUILDING • 1,338 SF
      3163 Bailey Rd, Fernandina Beach, FL 32034-9221
      View Details
    • Value Estimation
      $1,785,000
      9,304 SF

      4812 1st Coast Hwy

      OFFICE BUILDING • 9,304 SF
      4812 1st Coast Hwy, Fernandina Beach, FL 32034-5413
      View Details
    • Value Estimation by Request
      1,713 SF

      2245 Sadler Rd

      OFFICE BUILDING • 1,713 SF
      2245 Sadler Rd, Fernandina Beach, FL 32034-4584
      View Details
    • Value Estimation
      $1,445,000
      7,451 SF

      2380 Sadler Rd

      OFFICE BUILDING • 7,451 SF
      2380 Sadler Rd, Fernandina Beach, FL 32034-0415
      View Details
    • Value Estimation by Request
      1,767 SF

      608 8th St

      OFFICE BUILDING • 1,767 SF
      608 8th St, Fernandina Beach, FL 32034-3764
      View Details

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    Similar Nearby for Lease

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      High-End Office/Retail Space Available

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      View Details
    • Contact for pricing
      5,200 SF

      Fernandina Beach Office Space

      Office space available for lease in Fernandina Beach, Florida.
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      View Details
    • $29 SF/Yr
      15,000 SF

      Prime Fernandina Beach Office Space

      Executive & Medical Suites Available
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      Retail Space on Amelia Island

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      Retail Suite in Amelia Concourse

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      View Details
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    Fernandina Beach, FL 32034-4414
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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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