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    Property profile & analytics

    847 Park Ave Orange Park, FL 32073

    • Medical offices
    • 4,327 SF
    • 0.73 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Last Sale
    Apr 10, 2024
    $800,000
    Value Estimations
    $800,000
    Cap Rate Potential
    7.2%
    Medical offices
    Location Intelligence
    Property ID
    US18-5251937
    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

    • William Raleigh Thompson Jr / Health Care Facility / Family Practice Physician
    • Park Medical Center / Doctor
    • Thompson Jr W Raleigh MD / Family Practice Physician

    Property Details for 847 Park Ave

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.73 lot acres
    Property size
    4,327 SF
    Zone code
    CG
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    41-04-26-018594-000-00
    APU
    41042601859400000

    Description

    This exceptional 4,327 square foot commercial property, located on US-17 (Park Ave), offers flexible and customizable space ideal for various businesses. Three suites are available, with a minimum divisible space of 1,000 square feet and a maximum contiguous space of 4,327 square feet. The building boasts 115 feet of road frontage on a busy thoroughfare experiencing over 61,000 vehicles daily, ensuring excellent visibility and accessibility. Features include drive-in/drive-out access, ample disabled parking, and secure building access. The interior layout is adaptable, accommodating diverse needs with options for reception areas, open spaces, private rooms, and multiple restrooms. This property presents a unique opportunity to establish a strong presence in a high-traffic location. The entire building is currently vacant, providing a blank canvas for your business. The prominent location and high visibility make this an ideal space for businesses seeking maximum exposure. Don't miss this chance to secure a prime commercial space in a thriving area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $800,000
      ML approach
      $800,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $960,000
      6.5%
      $885,000
      7%
      $820,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $842,000
      Market price range: $713k - $1.56M
      AI Estimate
      $508,000
      Market price range: $290k - $872k

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

    Location Insight

    • Map
    • Local Demand
    City
    Orange Park
    County
    Clay
    State
    Florida
    Longitude
    -81.7007
    Latitude
    30.1797
    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
    $11,439
    $371,500
    $271,931
    $643,431
    -
    $371,500
    $271,931
    $643,431

    Comparable in this City

    • Value Estimation
      $320,000
      6,145 SF

      280 Corporate Way

      MEDICAL BUILDING • 6,145 SF
      280 Corporate Way, Orange Park, FL 32073-2893
      View Details
    • Value Estimation
      $290,000
      2,873 SF

      2153 Kingsley Ave

      MEDICAL BUILDING • 2,873 SF
      2153 Kingsley Ave, Orange Park, FL 32073-5113
      View Details
    • Value Estimation
      $245,000
      5,915 SF

      1996 Kingsley Ave

      MEDICAL BUILDING • 5,915 SF
      1996 Kingsley Ave, Orange Park, FL 32073-4442
      View Details
    • Value Estimation
      $255,000
      1,402 SF

      2140 Kingsley Ave Ste, Unit 11

      MEDICAL BUILDING • 1,402 SF
      2140 Kingsley Ave Ste, Orange Park, FL 32073-5129
      View Details
    • Value Estimation
      $260,000
      3,499 SF

      2140 Kingsley Ave Ste, Unit 3

      MEDICAL BUILDING • 3,499 SF
      2140 Kingsley Ave Ste, Orange Park, FL 32073-5129
      View Details
    • Value Estimation
      $620,000
      4,778 SF

      1409 Kingsley Ave Ste, Unit 8

      MEDICAL BUILDING • 4,778 SF
      1409 Kingsley Ave Ste, Orange Park, FL 32073-4553
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,579 SF

      Kingsley Ave Medical Office Building

      Prime Orange Park Office Space - Vacant
      1409 Kingsley Ave, Orange Park, FL 32073
      View Details
    • $1,500,000
      3,408 SF

      Orange Park Medical Facility

      Exceptional medical facility in Orange Park, Florida, with two units.
      1906 Debarry Ave, Orange Park, FL 32073
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    • $1,795,000
      1,767 SF

      Versatile Commercial Portfolio in Orange Park

      Three parcels with a leased building and expansion potential.
      1005 Park Ave, Orange Park, FL 32073
      View Details
    • $915,000
      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
      View Details
    • $925,000

      Orange Park Office Building Investment

      Four-unit office building, high occupancy.
      2301 Park Ave, Orange Park, FL 32073
      View Details
    • Contact for pricing
      52,544 SF

      Office Buildings Investment Opportunity

      52,544 SF office buildings, 90% leased, well-maintained property.
      1540 Kingsley Ave, Orange Park, FL 32073
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      20,620 SF

      Kingsley Ave Office Space for Lease

      Prime Orange Park Office, 1,000 sq ft available
      1279 Kingsley Ave, Orange Park, FL 32073
      View Details
    • Contact for pricing
      21,904 SF

      Prime Medical Office Space in Orange Park, FL

      1,055-2,400 SF Medical Office Suites Available
      1871 Wells Rd, Orange Park, FL 32073
      View Details
    • $15 SF/Yr
      900 SF

      Orange Park Medical Office Space

      900 sq ft, Single Tenant, Prime Location
      1329 Kingsley Ave, Orange Park, FL 32073
      View Details
    • $15 SF/Yr
      4,327 SF

      US-17 Retail/Office Space for Lease

      Prime Retail & Office Suites Available
      847 Park Ave, Orange Park, FL 32073
      View Details
    • $18 SF/Yr
      4,579 SF

      Orange Park Medical Office Space

      Prime Medical Office: 1,875-4,579 SF Available
      1409 Kingsley Ave, Orange Park, FL 32073
      View Details
    • $23 SF/Yr
      62,568 SF

      Orange Park Medical Office Building

      Class-A Medical Office Space Available
      1825 Kingsley Ave, Orange Park, FL 32073
      View Details
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    847 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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