Office Condo with 11
For Sale
$759,000
12276 San Jose Boulevard #301, Jacksonville, FL 32223
Commercially zoned space includes ADA restrooms and a full kitchen.
Property Size3,200 SF
Price / SF$237.19
Days on Market94
Property Features for 12276 San Jose Boulevard #301
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$9,597
Amenities
ADA Restrooms
full kitchen
conference room
Building Details
Building Size
3,200 SF
Year Built
2002
Stories
2
Units
1
Listing Agency:
WATSON REALTY CORP
(904) 813-4430
Listed By:
PATTI MOHR · License #0698610
(904) 813-4430
Source:
Bluekeypro
Added: May 11
Changed: Aug 11
Last Checked: Aug 11 at 6:37AM
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 WATSON REALTY CORP
Investment Insights
Based on property information with market context.
This 3,200-square-foot office condominium offers a two-level layout with 11 offices, a conference or storage area upstairs, ADA restrooms, and a full kitchen. A finished entry area provides a defined arrival point for visitors and staff. Built in 2002, the property is zoned Commercial and occupies Suite 301 at 12276 San Jose Boulevard in Jacksonville. The stated use potential includes medical, dental, legal, and accounting practices, making the configuration adaptable for several professional office applications. The combination of private rooms and flexible upper-level space provides a practical arrangement for an owner-user or office-based practice.
Key Highlights
- 3,200‑square‑foot office condominium in Jacksonville
- 11 offices arranged within a two‑level layout
- Second‑level area designated for conference or storage use
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
$51,840
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
6.83%
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%
$1,036,800
$1.0M
Cap Rate 7%
$740,571
$740.6K
Cap Rate 9%
$576,000
$576.0K
Market Conditions
NOI Build-Up for 3,200 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
$96.0K $30.00/SF
− Vacancy
−$9.6K −$3.00/SF
EGI
$86.4K $27.00/SF
− OpEx
−$34.6K −$10.80/SF
NOI
$51.8K $16.20/SF
Area
Jacksonville, FL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,036,800
Cap Rate 7%
$740,571
Cap Rate 9%
$576,000
Alternative Uses
Best Use
Healthcare Medical
$740.6K
$648.0K – $864.0K
NOI $51,840 @ 7.0% cap · market cap 6.83%
Second Best
Office B
$657.5K
$575.3K – $767.0K
NOI $46,022 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$876.6K
$767.0K – $1.02M
NOI $61,363 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,058
Businesses Nearby
Explore this area
Business Placement
Demographics for 32223, FL
25,600
Population
10,639
Households
2.4
Avg Household Size
47
Median Age
40%
College-Educated
95%
High-School Grad
11.5 sq mi
ZIP Area
2,226
Density / Sq Mi
$91,599
Median Household Income
$50,736
Median Earnings
$1,500
Median Rent
$377,500
Median Home Value
Market
Vacancy Rate% for Office in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercially zoned space includes ADA restrooms and a full kitchen.
Where is this office units located?
The property is located at 12276 San Jose Boulevard #301 Jacksonville, FL.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: 3,200‑square‑foot office condominium in Jacksonville; 11 offices arranged within a two‑level layout; Second‑level area designated for conference or storage use
