Brick Office
For Sale
$2,349,000
1616 JORK Road, Jacksonville, FL 32207
Commercial Sale, Jacksonville, FL
Property Size9,900 SF
Lot Size1.53 Acres
Price / SF$226.87
Days on Market95
Property Features for 1616 JORK Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial/Residential/Office
Parking features
Parking Lot
Lot features
Corner Lot
Directions
Atlantic Blvd., 3/4 mile east of the Hart Bridge.
Subdivision
021-St Nicholas Area
Standard status
Active
APN
1299660000
Size
10,354 SF
Lot size
1.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
18286
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2006
Floors in Building
1
Building materials
Brick
Roof type
Shingle
Listing Agency:
PRICE REALTY GROUP
Listed By:
MICHAEL S PRICE
(904) 465-1724
Added: Jun 30
Changed: Aug 19
Last Checked: Oct 2 at 6:06PM
MLS# 2153007
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office complex comprises four single-story brick buildings totaling 9,900 square feet of office space on 1.53 acres. The configuration includes three 1,800-square-foot buildings and one 4,500-square-foot building, with 11 office suites measuring 30 feet by 30 feet. Most suites contain four offices, and each building includes handicap-accessible bathrooms. Improvements include LED lighting at suite exteriors and bathrooms, HVAC replacements in most suites, and replacement of most windows. Central heating and central air serve the property, with a parking lot on site.
The property fronts Atlantic Blvd at the corner of Jork Road, approximately 3/4 mile from the Hart Bridge. The site provides access to EverBank Stadium and downtown Jacksonville across the St. Johns River, while the San Marco residential and retail district is minutes west. All office suites are occupied.
The property fronts Atlantic Blvd at the corner of Jork Road, approximately 3/4 mile from the Hart Bridge. The site provides access to EverBank Stadium and downtown Jacksonville across the St. Johns River, while the San Marco residential and retail district is minutes west. All office suites are occupied.
Key Highlights
- 9,900 square feet of office space across 4 single‑story buildings
- Three 1,800‑square‑foot buildings plus one 4,500‑square‑foot building
- 11 office suites, each 30 ft. x 30 ft.
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Single-story office buildings provide multiple suites, accessible bathrooms, parking, and central HVAC.
Where is this office building located?
The property is located at 1616 JORK Road 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: 9,900 square feet of office space across 4 single‑story buildings; Three 1,800‑square‑foot buildings plus one 4,500‑square‑foot building; 11 office suites, each 30 ft. x 30 ft.
