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    56 Grv Ave St Augustine, FL 32084-3256
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    Property profile & analytics

    56 Grv Ave, St Augustine, FL 32084-3256

    View on Map
    • Office buildings
    • 3,146 SF
    • 0.28 lot acres
    Off-Market
    Last Sale May 17, 2022
    $1,100,000
    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.
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    4.8%
    Office buildings
    Location Intelligence

    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 type
    Office buildings
    APN
    194110 0000
    APU
    1941100000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 17, 2022 $1,100,000 56 Grove Property LLC Carolina Dreamin LLC Warranty Deed $1M · Barwick Banking Co
    May 7, 2003 $457,500 Carolina Dreamin LLC Kwiatkowski,jan Grant Deed $412k · Atlantic States Bank
    Aug 20, 2001 $225,000 Jan Kwistkowski Mehm,joseph A & Sherry L Grant Deed —
    Aug 15, 2000 $165,000 Joseph A Mehm Island Investments Of St Augus Grant Deed $124k · First Federal Bank N Florida
    — — Jan Kwiatkowski — Deed Of Trust · related $375k · First Federal Bank N Florida

    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 estimation — 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

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      22,463 SF

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    • Value Estimation
      $4,645,000
      19,866 SF

      Saint Augustine, FL 32084

      OFFICE BUILDING
      Saint Augustine, FL 32084
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    • Value Estimation by Request
      726 SF

      38 Hope St

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      8,700 SF

      200 Malaga St

      OFFICE BUILDING
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    • Value Estimation
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      4,712 SF

      74 Riberia St

      OFFICE BUILDING
      74 Riberia St, Saint Augustine, FL 32084-3562
      View Details
    • Value Estimation
      $730,000
      2,323 SF

      238 San Marco Ave

      OFFICE BUILDING
      238 San Marco Ave, Saint Augustine, FL 32084-2727
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,600 SF

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      9,600 SF office building, 100% leased, frontage on US-1.
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    • Contact for pricing
      1,080 SF

      St. Augustine Commercial Building For Sale

      Commercial building in St. Augustine with high traffic and visibility.
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      2,280 SF

      Downtown St. Augustine Commercial Property

      Prime downtown St. Augustine property with development potential and ample parking.
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    • $2,495,000
      1,600 SF

      Historic Retail Property on San Marco

      Two-story historic retail property with live/work space in St. Augustine.
      63 San Marco Ave, St Augustine, FL 32084
      View Details
    • Contact for pricing

      Office Space For Sale

      Office space available for sale, approximately 162 square feet.
      404 Riberia St, St Augustine, FL 32084
      View Details

    Similar Nearby for Lease

    • $8,398 /Mo
      2,964 SF

      Downtown St. Augustine Office Space

      Professional office space in the heart of historic St. Augustine.
      5 Palm St, St Augustine, FL 32084
      View Details
    • Contact for pricing

      Retail Space in Winn Dixie Center

      Retail space available within a Winn Dixie anchored shopping center.
      3501 N Ponce De Leon Blvd, St Augustine, FL 32084
      View Details
    • $2,750 /Mo
      1,250 SF

      Office and Warehouse Flex Space

      Combined office and warehouse space available for rent in St. Augustine.
      235 State Road 207, St Augustine, FL 32084
      View Details
    • Contact for pricing
      2,213 SF

      Retail Space in St. Augustine

      Retail property with high traffic in historic St. Augustine.
      1570-1580 Us Highway 1 S, St Augustine, FL 32084
      View Details
    • Contact for pricing
      800 SF

      St. Johns Plaza Retail Space

      Retail space available in established St. Augustine shopping center.
      1010 S Ponce De Leon Blvd, St Augustine, FL 32084
      View Details
    • Contact for pricing

      Historic Building with Turnkey Bakery

      Renovated commercial building with bakery, cafe, and coffee shop.
      47 Cordova St, St Augustine, FL 32084
      View Details
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    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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