Three-Property Office
For Sale
Contact for pricing
1055 Scotland Road, Havana, FL 32333
Florida portfolio combining leased land, industrial space, and an office building across three properties.
Property Size4,504 SF
Lot Size0.32 Acres
Price / SF$115.38
Days on Market80
Property Features for 1055 Scotland Road
General Information
Standard status
Active
Size
4,504 SF
Lot size
0.32 Acres
Property subtype
Office
Building Details
Buildings
1
Stories
1
Building Size
4,504 SF
Tenancy
Multi
Listing Agency:
Ciminelli Real Estate Services - Tampa
Listed By:
Ciminelli Real Estate Services · License #CQ1011388
Source:
Crexi
Added: Jun 11
Changed: Aug 29
Last Checked: Aug 29 at 3:37PM
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 Ciminelli Real Estate Services - Tampa
Investment Insights
Based on property information with market context.
This Florida portfolio includes three distinct commercial assets. In Havana, 111 acres of commercial/agricultural land are improved with four buildings totaling approximately 18,400 sf. Jacksonville contributes a 4,504 sf industrial building on 0.32 acres, while the Marianna asset is a 2,118 sf office building on approximately 1 acre.
The properties are located in Havana, Jacksonville, and Marianna, Florida. The portfolio is leased to local and national tenants and is associated with a cap rate close to 10%. The Havana property is identified at 1055 Scotland Road, Havana, FL 32333.
The properties are located in Havana, Jacksonville, and Marianna, Florida. The portfolio is leased to local and national tenants and is associated with a cap rate close to 10%. The Havana property is identified at 1055 Scotland Road, Havana, FL 32333.
Key Highlights
- 111 acres of commercial/agricultural land in Havana, FL
- Four buildings totaling approximately 18,400 sf on the Havana property
- 4,504 sf industrial building on 0.32 acres in Jacksonville, FL
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
$124,807
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
5.88%
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%
$2,496,140
$2.5M
Cap Rate 7%
$1,782,957
$1.8M
Cap Rate 9%
$1,386,744
$1.4M
Market Conditions
NOI Build-Up for 18,400 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
$187.7K $10.20/SF
− Vacancy
−$9.4K −$0.51/SF
EGI
$178.3K $9.69/SF
− OpEx
−$53.5K −$2.91/SF
NOI
$124.8K $6.78/SF
Area
Gadsden County, FL
Vacancy
5.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$2,496,140
Cap Rate 7%
$1,782,957
Cap Rate 9%
$1,386,744
Alternative Uses
Best Use
Office B
$3.23M
$2.83M – $3.77M
NOI $226,044 @ 7.0% cap · market cap 10.65%
Second Best
Industrial
$1.78M
$1.56M – $2.08M
NOI $124,807 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$4.51M
$3.95M – $5.26M
NOI $315,762 @ 7.0% cap · market cap 14.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Explore this area
Business Placement
Demographics for 32333, FL
11,499
Population
5,162
Households
2.2
Avg Household Size
50
Median Age
33%
College-Educated
88%
High-School Grad
105.6 sq mi
ZIP Area
109
Density / Sq Mi
$56,968
Median Household Income
$39,092
Median Earnings
$917
Median Rent
$211,000
Median Home Value
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 building - Florida portfolio combining leased land, industrial space, and an office building across three properties.
Where is this office building located?
The property is located at 1055 Scotland Road Havana, FL.
What is the asking price?
The asking price for this property is $2,123,000.
What are key features of this property?
This property features: 111 acres of commercial/agricultural land in Havana, FL; Four buildings totaling approximately 18,400 sf on the Havana property; 4,504 sf industrial building on 0.32 acres in Jacksonville, FL
