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    Property profile & analytics

    56 Grv Ave St Augustine, FL 32084-3256

    • Office buildings
    • 3,146 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    May 17, 2022
    $1,100,000
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    4.8%
    Office buildings
    Location Intelligence
    Property ID
    US18-0309359
    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

    • Lotus Noodle Bar / Restaurant
    • Cedar Cottage / Vacation Rental / Hotel & Motel
    • Fine Timothy / Insurance Agency
    • Decesare Patricia / Insurance Agency
    • Emden Willard / Insurance Agency

    Property Details for 56 Grv Ave

    Year built
    1917
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.28 lot acres
    Property size
    3,146 SF
    Property type
    Office buildings
    APN
    194110 0000
    APU
    1941100000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $985,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $785,000
      6.5%
      $725,000
      7%
      $670,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,314,000
      Market price range: $501k - $1.31M
      AI Estimate
      $1,314,000
      Market price range: $501k - $1.31M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,020,000
      Current use
      AUTO REPAIR, GARAGE
      $820,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    St Augustine
    County
    St. Johns
    State
    Florida
    Longitude
    -81.3192
    Latitude
    29.9001
    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
    $18,754
    $0.00
    $0.00
    $964,635
    -
    $427,000
    $537,635
    $964,635

    Comparable in this City

    • Value Estimation
      $1,290,000
      3,109 SF

      Saint Augustine, FL 32084

      OFFICE BUILDING (MULTI-STORY) • 3,109 SF
      Saint Augustine, FL 32084
      View Details
    • Value Estimation
      $1,150,000
      3,363 SF

      3171 Coastal Hwy

      OFFICE BUILDING • 3,363 SF
      3171 Coastal Hwy, Saint Augustine, FL 32084-2220
      View Details
    • Value Estimation
      $1,690,000
      5,529 SF

      17 Cordova St

      OFFICE BUILDING • 5,529 SF
      17 Cordova St, Saint Augustine, FL 32084-3618
      View Details
    • Value Estimation by Request
      336 SF

      111 Avenida Menendez

      OFFICE BUILDING • 336 SF
      111 Avenida Menendez, Saint Augustine, FL 32084-4402
      View Details
    • Value Estimation
      $2,450,000
      15,393 SF

      Saint Augustine, FL 32084

      OFFICE BUILDING • 15,393 SF
      Saint Augustine, FL 32084
      View Details
    • Value Estimation by Request
      2,278 SF

      70 Dixie Hwy

      OFFICE BUILDING • 2,278 SF
      70 Dixie Hwy, Saint Augustine, FL 32084-0319
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Saint Augustine Leased Office Building

      9,600 SF office building, 100% leased, frontage on US-1.
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    • New
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      St Augustine Office Building For Sale

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    • $465,000
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      Commercial Property on W King Street

      Versatile commercial property in a rapidly developing business district.
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      St. Augustine Multifamily Income Property

      Restored 1925 property with office and vacation rental income.
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      2,080 SF

      New Flex Space Near Downtown

      New construction flex space near downtown St. Augustine.
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    Similar Nearby for Lease

    • $32 SF/Yr
      9,100 SF

      St. Augustine Office Space

      9,100 SF Office, Flexible Lease
      840 Fl-16, St. Augustine, FL 32084
      View Details
    • Contact for pricing
      20,000 SF

      St. Augustine Medical Office Pads

      Prime Medical Office Space Available
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      View Details
    • $900 /Mo
      2,156 SF

      47 Cordova St

      Restaurants
      47 Cordova St, St. Augustine, FL 32084
      View Details
    • $28 SF/Yr
      3,256 SF

      St. Augustine Retail/Office Building

      Prime St. Augustine location, 3,256 sq ft, single tenant.
      240 San Marco Ave, 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
    • $1,875 /Mo

      St. Augustine Industrial Flex Space

      Industrial flex space for lease with versatile layouts and accessibility.
      1731 Dobbs Rd, St Augustine, FL 32084
      View Details
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    56 Grv Ave
    St Augustine, FL 32084-3256
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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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