Adjoining Office Suites with Two
For Sale
$690,000
10-91 Branscomb Rd, Green Cove Springs, FL 32043
Two adjoining office suites on a lagoon setting, designed for professional use with multiple conference and office rooms.
Property Size2,491 SF
Price / SF$276
Days on Market127
Property Features for 10-91 Branscomb Rd
General Information
Standard status
Active
Size
2,491 SF
Taxes and HOA fees
Annual Taxes
$2,185
Listing Agency:
KELLER WILLIAMS ST JOHNS
(904) 867-7694
Listed By:
MELISSA CARSON HERMAN · License #3418096
(904) 535-4430
Source:
Exprealty
Added: May 18
Changed: Sep 10
Last Checked: Sep 21 at 8:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS ST JOHNS
Investment Insights
Based on property information with market context.
Units 9 and 10 are included in the sale and currently function as well-finished, well-maintained office suites that adjoin and offer two separate doors. The layout provides a total of six offices, including one office used for storage, along with two large conference rooms. Additional interior features include a lobby area, an admin area, a bathroom, an IT/electrical room, a kitchen/breakroom, and an HVAC closet with storage. The configuration can also be reworked to operate as two separate suites by adding an additional bathroom.
The property is situated on a lagoon, with visibility from Henley Rd. The broader area is described as part of the growing Blanding Blvd and Henley Rd corridors in Clay County, with nearby access to Orange Park, Jacksonville, Oakleaf Plantation, and Green Cove Springs, as well as connectivity to the First Coast Expressway.
With its mix of private offices, conference space, and dedicated support rooms, the space is suited for a variety of professional uses, including a medical clinic, law firm, or other office-based business. The two-entry setup and the ability to separate the plan further make it practical for organizations that value flexible access and defined internal areas.
The property is situated on a lagoon, with visibility from Henley Rd. The broader area is described as part of the growing Blanding Blvd and Henley Rd corridors in Clay County, with nearby access to Orange Park, Jacksonville, Oakleaf Plantation, and Green Cove Springs, as well as connectivity to the First Coast Expressway.
With its mix of private offices, conference space, and dedicated support rooms, the space is suited for a variety of professional uses, including a medical clinic, law firm, or other office-based business. The two-entry setup and the ability to separate the plan further make it practical for organizations that value flexible access and defined internal areas.
Key Highlights
- Sale includes both units 9 and 10, two adjoining office suites with two separate doors
- Combined layout features 6 offices total (1 currently used for storage) plus a lobby area and admin area
- Two large conference rooms, along with a kitchen/breakroom, bathroom, and IT/electrical room
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
Location Intelligence
Trade Area within ½ mile
138
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Two adjoining office suites on a lagoon setting, designed for professional use with multiple conference and office rooms.
Where is this office units located?
The property is located at 10-91 Branscomb Rd 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: Sale includes both units 9 and 10, two adjoining office suites with two separate doors; Combined layout features 6 offices total (1 currently used for storage) plus a lobby area and admin area; Two large conference rooms, along with a kitchen/breakroom, bathroom, and IT/electrical room
