Riverside Medical Office Building For
For Sale
$899,000
1503 Oak Street, Jacksonville, FL 32204
Established medical office in Riverside's 5-Points district.
Property Size2,694 SF
Price / SF$333.70
Days on Market418
Property Features for 1503 Oak Street
General Information
Standard status
Active
Size
2,694 SF
Property subtype
Commercial
Zoning
Commercial/Residential/Office
Taxes and HOA fees
Annual Taxes
$8,117
Building Details
Building Size
2,694 SF
Year Built
1959
Stories
1
Listing Agency:
BELLE EPOQUE REALTY SERVICES LLC
(904) 382-7695
Listed By:
THOMAS LOVE · License #3118560
Source:
Giffordproperties
Added: Jul 2, 2025
Changed: Aug 23
Last Checked: Aug 22 at 7:07AM
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 BELLE EPOQUE REALTY SERVICES LLC
Investment Insights
Based on property information with market context.
This is an exceptional 2,694 square foot established medical office building located in the heart of Riverside's bustling 5-Points district. This turnkey opportunity features proven commercial use with flexible zoning, making it ideal for healthcare practitioners or professional services. The thoughtfully designed interior includes a welcoming reception area, a private office with an attached full bathroom, six versatile exam rooms or offices, a large dedicated storage room, an electrical or utility room, and two additional ADA compliant bathrooms ensuring accessibility compliance. The property offers the rare advantage of a dedicated 5-car parking lot, which is exceptionally valuable in this high-demand walkable neighborhood. Situated at the coveted 5-Points intersection, tenants and clients enjoy easy access to diverse dining, shopping, and entertainment options while maintaining convenient connectivity to downtown Jacksonville and major transportation corridors. This established location is in the high-demand Riverside area.
Key Highlights
- Turnkey medical office building in the heart of Riverside's 5‑Points district.
- Rare dedicated 5‑car parking lot in a high‑demand, walkable neighborhood.
- Flexible zoning suitable for healthcare or professional services.
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
$43,643
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
4.85%
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%
$872,860
$872.9K
Cap Rate 7%
$623,471
$623.5K
Cap Rate 9%
$484,922
$484.9K
Market Conditions
NOI Build-Up for 2,694 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
$80.8K $30.00/SF
− Vacancy
−$8.1K −$3.00/SF
EGI
$72.7K $27.00/SF
− OpEx
−$29.1K −$10.80/SF
NOI
$43.6K $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%
$872,860
Cap Rate 7%
$623,471
Cap Rate 9%
$484,922
Alternative Uses
Best Use
Healthcare Medical
$623.5K
$545.5K – $727.4K
NOI $43,643 @ 7.0% cap · market cap 4.85%
Second Best
Office B
$553.5K
$484.3K – $645.8K
NOI $38,745 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$738.0K
$645.8K – $861.0K
NOI $51,660 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,499
Businesses Nearby
Balanced
Demand for This Use
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?
Medical Office Space - Established medical office in Riverside's 5-Points district.
Where is this medical office space located?
The property is located at 1503 Oak Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Turnkey medical office building in the heart of Riverside's 5‑Points district.; Rare dedicated 5‑car parking lot in a high‑demand, walkable neighborhood.; Flexible zoning suitable for healthcare or professional services.
