Brick Office
For Sale
$2,349,000
1616 JORK Road, Jacksonville, FL 32207
COMMERCIAL - Jacksonville, FL
Property Size10,354 SF
Lot Size1.53 Acres
Price / SF$226.87
Days on Market47
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
(904) 465-1724
Listed By:
MICHAEL S PRICE
(904) 465-1724
Added: Jun 30
Changed: Aug 4
Last Checked: Aug 15 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 property consists of four single-story brick buildings containing 11 suites. The configuration includes three 1,800-square-foot buildings and one 4,500-square-foot building, with most suites arranged around four offices. Handicap-accessible bathrooms serve the complex, while improvements include LED lighting at suite exteriors and bathrooms, HVAC replacements in most suites, and replacement of most windows. Central heating and air conditioning support the buildings, with a shingle roof and on-site parking lot.
The property occupies 1.53 acres at the corner of Jork Road and Atlantic Boulevard, approximately 3/4 mile from the Hart Bridge. Its Jacksonville setting provides access to EverBank Stadium, downtown Jacksonville, and the San Marco residential and retail district. All office suites are occupied, and the property was built in 2006.
The property occupies 1.53 acres at the corner of Jork Road and Atlantic Boulevard, approximately 3/4 mile from the Hart Bridge. Its Jacksonville setting provides access to EverBank Stadium, downtown Jacksonville, and the San Marco residential and retail district. All office suites are occupied, and the property was built in 2006.
Key Highlights
- Four single‑story brick office buildings with 11 suites
- Three 1,800‑square‑foot buildings plus one 4,500‑square‑foot building
- Most suites include 4 offices
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
Location Intelligence
Trade Area within ½ mile
589
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 - Four single-story buildings provide 11 suites with central HVAC and handicap-accessible bathrooms.
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: Four single‑story brick office buildings with 11 suites; Three 1,800‑square‑foot buildings plus one 4,500‑square‑foot building; Most suites include 4 offices
