Single-Story Office
For Sale
$2,349,000
1616 Jork Rd, Jacksonville, FL 32207
Brick office buildings offer accessible suites, updated systems, and full occupancy.
Property Size9,900 SF
Price / SF$226.87
Days on Market114
Property Features for 1616 Jork Rd
General Information
Standard status
Active
Size
9,900 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Road Access
Yes
Office Units
11
Amenities
handicap accessible bathrooms
Building Details
Year Built
2006
Buildings
4
Stories
1
Building Size
9,900 SF
Construction
brick
Tenancy
Multi
Listing Agency:
PRICE REALTY GROUP
(904) 465-1724
Listed By:
MICHAEL S PRICE
Source:
Florida-georgia-realty
Added: May 9
Changed: Aug 28
Last Checked: Aug 30 at 5:56PM
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 PRICE REALTY GROUP
Investment Insights
Based on property information with market context.
This office complex at 1616 Jork Rd. comprises four single-story brick buildings with a combined 11 office suites. The reported configuration includes three buildings of 1,800 square feet each and one building measuring 4,500 square feet. Suites are approximately 30 feet by 30 feet, with most containing four individual offices. All bathrooms are handicap accessible.
Property improvements include LED lighting at suite exteriors and in bathrooms, HVAC replacements in most suites, and replacement of most windows. The site fronts Atlantic Boulevard at the corner of Jork Road, approximately 3/4 mile from the Hart Bridge. EverBank Stadium and downtown Jacksonville are accessible across the St. Johns River, while the San Marco residential and retail district is minutes west. All office suites are occupied.
Property improvements include LED lighting at suite exteriors and in bathrooms, HVAC replacements in most suites, and replacement of most windows. The site fronts Atlantic Boulevard at the corner of Jork Road, approximately 3/4 mile from the Hart Bridge. EverBank Stadium and downtown Jacksonville are accessible across the St. Johns River, while the San Marco residential and retail district is minutes west. All office suites are occupied.
Key Highlights
- Four single‑story brick office buildings with 11 suites
- Three buildings measure 1,800 square feet each; one measures 4,500 square feet
- Most suites include four offices within an approximately 30‑foot‑by‑30‑foot layout
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
$148,911
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
6.34%
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%
$2,978,220
$3.0M
Cap Rate 7%
$2,127,300
$2.1M
Cap Rate 9%
$1,654,567
$1.7M
Market Conditions
NOI Build-Up for 10,354 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
$248.5K $24.00/SF
− Vacancy
−$49.9K −$4.82/SF
EGI
$198.5K $19.18/SF
− OpEx
−$49.6K −$4.79/SF
NOI
$148.9K $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%
$2,978,220
Cap Rate 7%
$2,127,300
Cap Rate 9%
$1,654,567
Alternative Uses
Best Use
Office B
$2.13M
$1.86M – $2.48M
NOI $148,911 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.48M – $3.31M
NOI $198,548 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 32207, FL
36,207
Population
18,866
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
11.4 sq mi
ZIP Area
3,176
Density / Sq Mi
$60,875
Median Household Income
$45,478
Median Earnings
$1,139
Median Rent
$254,800
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 - Brick office buildings offer accessible suites, updated systems, and full occupancy.
Where is this office building located?
The property is located at 1616 Jork Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $2,349,000.
What are key features of this property?
This property features: Four single‑story brick office buildings with 11 suites; Three buildings measure 1,800 square feet each; one measures 4,500 square feet; Most suites include four offices within an approximately 30‑foot‑by‑30‑foot layout
