Adjacent Office Units on
For Sale
$690,000
91 BRANSCOMB Road, Green Cove Springs, FL 32043
Commercial Sale, Green Cove Springs, FL
Property Size2,491 SF
Lot Size0.42 Acres
Price / SF$276
Days on Market127
Property Features for 91 BRANSCOMB Road
General Information
Property type
Residential
Property subtype
Office
Zoning description
Professional/Office
Parking features
Assigned, Parking Lot, Off Street
Directions
Take the First Coast Expressway south to Henley Rd and turn off to travel south on Henley Rd. Take a left on Branscomb Rd and then immediately turn left into Lake Asbury Office Park. Units 9 & 10 are halfway down on the left.
Subdivision
163-Lake Asbury Area
Standard status
Active
APN
21052501009401610
Size
2,491 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2185
HOA Fee
$2,800 Annually
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Multi Units, Electric, Heat Pump
Water source
Public
Water front features
Lagoon
Water front
1
Building Details
Year built
2006
Floors in Building
1
Number of units
2
Flooring type
Carpet
Building materials
Frame, Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS ST JOHNS · Keller Williams Realty
(904) 867-7694
Listed By:
MELISSA CARSON HERMAN · License #3418096
(904) 535-4430
Added: May 18
Changed: Sep 12
Last Checked: Sep 21 at 10:06PM
MLS# 2145992
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Units 9 and 10 are included together, creating a 2,491-square-foot office property with two adjoining suites and separate entrances. The layout includes six offices, two large conference rooms, a lobby, administrative area, bathroom, IT/electrical room, kitchen/breakroom, HVAC closet, and storage. One office is currently used for storage. The suites could be divided into separate offices by adding another bathroom.
Built in 2006, the building features frame and stucco construction, carpeted flooring, electric heat-pump systems, a shingle roof, public water, public sewer, and cable availability. The property sits on 0.42 acres along a lagoon and includes assigned, off-street parking in a parking lot. Its position near Henley Road provides visibility within the Blanding Boulevard and Henley Road corridors, with access to surrounding Clay County communities and the First Coast Expressway.
Built in 2006, the building features frame and stucco construction, carpeted flooring, electric heat-pump systems, a shingle roof, public water, public sewer, and cable availability. The property sits on 0.42 acres along a lagoon and includes assigned, off-street parking in a parking lot. Its position near Henley Road provides visibility within the Blanding Boulevard and Henley Road corridors, with access to surrounding Clay County communities and the First Coast Expressway.
Key Highlights
- Units 9 and 10 convey together as two adjoining office suites
- 2,491 SF layout with 6 offices, 2 large conference rooms, lobby, admin area, and kitchen/breakroom
- Separate suite entrances support potential division into two offices with an additional bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,884
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$697,680
$697.7K
Cap Rate 7%
$498,343
$498.3K
Cap Rate 9%
$387,600
$387.6K
Market Conditions
NOI Build-Up for 2,491 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.8K $24.00/SF
− Vacancy
−$13.3K −$5.33/SF
EGI
$46.5K $18.67/SF
− OpEx
−$11.6K −$4.67/SF
NOI
$34.9K $14.00/SF
Area
Clay County, FL
Vacancy
22.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$697,680
Cap Rate 7%
$498,343
Cap Rate 9%
$387,600
Alternative Uses
Best Use
Office B
$498.3K
$436.1K – $581.4K
NOI $34,884 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$664.5K
$581.4K – $775.2K
NOI $46,512 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 32043, FL
30,369
Population
13,331
Households
2.3
Avg Household Size
41
Median Age
31%
College-Educated
92%
High-School Grad
229.3 sq mi
ZIP Area
132
Density / Sq Mi
$80,698
Median Household Income
$46,310
Median Earnings
$1,370
Median Rent
$292,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two connected suites offer a flexible professional-office layout with shared support areas and parking.
Where is this office units located?
The property is located at 91 BRANSCOMB Road Green Cove Springs, FL.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Units 9 and 10 convey together as two adjoining office suites; 2,491 SF layout with 6 offices, 2 large conference rooms, lobby, admin area, and kitchen/breakroom; Separate suite entrances support potential division into two offices with an additional bathroom
