Historic Brick Office
New
For Sale
$1,079,000
2258 RIVERSIDE Ave, Jacksonville, FL 32204
Two-story professional office property with hardwood floors, private rear parking, and a detached carriage house.
Property Size3,078 SF
Days on Market6
Property Features for 2258 RIVERSIDE Ave
General Information
Standard status
Active
Size
3,078 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,997
Building Details
Building Size
3,078 SF
Year Built
1925
Buildings
2
Stories
2
Construction
brick
Listing Agency:
(954) 303-7722
Listed By:
THOMAS ADAM
Source:
Elliman
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 18 at 8:11AM
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 THOMAS ADAM
Investment Insights
Based on property information with market context.
Built in 1925, this two-story brick office property offers a professional setting with hardwood floors, substantial natural light, and classic architectural elements. The interior includes private offices, conference and meeting areas, reception spaces, and additional work areas. A separate carriage house expands the property's functional flexibility; architectural and structural drawings contemplate approximately 480 square feet of living space with a kitchen, full bath, and loft-style bedroom. Any conversion, residential use, or live/work configuration requires independent review of zoning, permitting, plans, and feasibility.
The property occupies Riverside Avenue in Jacksonville, near Riverside/Avondale, Downtown Jacksonville, medical facilities, restaurants, retail, and professional services. A paved parking area behind the building provides off-street parking, while multiple access points and monument signage support daily operations and property identification. Walk Score is 91, Bike Score is 56, and Transit Score is 38.
The property occupies Riverside Avenue in Jacksonville, near Riverside/Avondale, Downtown Jacksonville, medical facilities, restaurants, retail, and professional services. A paved parking area behind the building provides off-street parking, while multiple access points and monument signage support daily operations and property identification. Walk Score is 91, Bike Score is 56, and Transit Score is 38.
Key Highlights
- 1925‑built, two‑story brick office property on Riverside Avenue
- Interior includes private offices, conference areas, reception spaces, hardwood floors, and abundant natural light
- Approximately 480 SF carriage house conversion concept with kitchen, full bath, and loft‑style bedroom
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
$44,268
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
4.10%
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%
$885,360
$885.4K
Cap Rate 7%
$632,400
$632.4K
Cap Rate 9%
$491,867
$491.9K
Market Conditions
NOI Build-Up for 3,078 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
$73.9K $24.00/SF
− Vacancy
−$14.8K −$4.82/SF
EGI
$59.0K $19.18/SF
− OpEx
−$14.8K −$4.79/SF
NOI
$44.3K $14.38/SF
Area
Jacksonville, FL
Vacancy
20.10%
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%
$885,360
Cap Rate 7%
$632,400
Cap Rate 9%
$491,867
Alternative Uses
Best Use
Office B
$632.4K
$553.4K – $737.8K
NOI $44,268 @ 7.0% cap · market cap 4.10%
Second Best
Mixed Use
$580.4K
$507.9K – $677.2K
NOI $40,630 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$843.2K
$737.8K – $983.7K
NOI $59,024 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,968
Businesses Nearby
Explore this area
Business Placement
Demographics for 32204, FL
8,673
Population
5,342
Households
1.6
Avg Household Size
39
Median Age
41%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
3,212
Density / Sq Mi
$54,462
Median Household Income
$47,872
Median Earnings
$1,132
Median Rent
$342,700
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 building - Two-story professional office property with hardwood floors, private rear parking, and a detached carriage house.
Where is this office building located?
The property is located at 2258 RIVERSIDE Ave Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,079,000.
What are key features of this property?
This property features: 1925‑built, two‑story brick office property on Riverside Avenue; Interior includes private offices, conference areas, reception spaces, hardwood floors, and abundant natural light; Approximately 480 SF carriage house conversion concept with kitchen, full bath, and loft‑style bedroom
