Updated Office Condo with
For Sale
$330,000
10175 Fortune Pkwy Unit 1004, Jacksonville, FL 32256
Flexible office layout with reception, private offices, kitchen, restroom, and adjacent overflow parking.
Property Size1,062 SF
Price / SF$310.73
Days on Market309
Property Features for 10175 Fortune Pkwy Unit 1004
General Information
Standard status
Active
Size
1,062 SF
Property subtype
Commercial
Additional Details
Office Units
1
Building Details
Year Built
2006
Listing Agency:
PROPERTY THEATER LLC
Listed By:
RICHARD B SKINNER · License #3274395
(904) 373-8778
Source:
Myfirstcoasthomesearch
Added: Nov 22, 2025
Changed: Sep 21
Last Checked: Sep 26 at 7:38AM
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 PROPERTY THEATER LLC
Investment Insights
Based on property information with market context.
This updated office condo offers 1,062 square feet within a 2006 office property. The interior includes a reception area, four private offices, a kitchen, restroom, and attic, providing a practical arrangement for professional occupancy. The existing layout remains in place, and the space is currently configured for spa use while also supporting conversion to a professional office setting.
The unit is located at 10175 Fortune Pkwy, Unit 1004, in Jacksonville, Florida 32256, next to an overflow parking area. Ownership includes association-managed common interests, with the condominium association described as well funded and professionally managed.
The unit is located at 10175 Fortune Pkwy, Unit 1004, in Jacksonville, Florida 32256, next to an overflow parking area. Ownership includes association-managed common interests, with the condominium association described as well funded and professionally managed.
Key Highlights
- 1,062‑square‑foot office condo in a 2006 office property
- Reception area, four private offices, kitchen, restroom, and attic
- Currently configured for spa use with potential professional office conversion
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
$14,872
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
4.51%
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%
$297,440
$297.4K
Cap Rate 7%
$212,457
$212.5K
Cap Rate 9%
$165,244
$165.2K
Market Conditions
NOI Build-Up for 1,062 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
$25.5K $24.00/SF
− Vacancy
−$5.7K −$5.33/SF
EGI
$19.8K $18.67/SF
− OpEx
−$5.0K −$4.67/SF
NOI
$14.9K $14.00/SF
Area
ZIP 32256
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%
$297,440
Cap Rate 7%
$212,457
Cap Rate 9%
$165,244
Alternative Uses
Best Use
Office B
$212.5K
$185.9K – $247.9K
NOI $14,872 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$283.3K
$247.9K – $330.5K
NOI $19,830 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
805
Businesses Nearby
Explore this area
Business Placement
Demographics for 32256, FL
53,611
Population
27,735
Households
1.9
Avg Household Size
37
Median Age
53%
College-Educated
97%
High-School Grad
61.4 sq mi
ZIP Area
873
Density / Sq Mi
$73,203
Median Household Income
$47,360
Median Earnings
$1,586
Median Rent
$360,200
Median Home Value
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Market
Vacancy Rate% for Office in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Office units - Flexible office layout with reception, private offices, kitchen, restroom, and adjacent overflow parking.
Where is this office units located?
The property is located at 10175 Fortune Pkwy Unit 1004 Jacksonville, FL.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 1,062‑square‑foot office condo in a 2006 office property; Reception area, four private offices, kitchen, restroom, and attic; Currently configured for spa use with potential professional office conversion
