Renovated Office
New
For Sale
$2,200,000
1712 - 1736 University Boulevard South, Jacksonville, FL 32216
Two office buildings offer flexible layouts for professional and medical occupiers, with parking that includes a rear overflow area.
Property Size10,026 SF
Price / SF$219.43
Days on Market2
Property Features for 1712 - 1736 University Boulevard South
General Information
Standard status
Active
Size
10,026 SF
Class
C
Property subtype
Office - General Office
Additional Details
Road Access
Yes
Office Units
4
Building Details
Building Size
10,026 SF
Year Built
1958
Year Renovated
2024
Buildings
2
Units
4
Tenancy
Multi
Listing Agency:
Kinkade Commercial Real Estate
Listed By:
Amanda Kinkade
(904) 635-6376
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 1 at 9:00PM
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 Kinkade Commercial Real Estate
Investment Insights
Based on property information with market context.
The property comprises two office buildings with four spaces totaling approximately 10,026 SF. The layout accommodates professional and medical uses, with two existing long-term tenants and two vacant spaces. Constructed in 1958, the buildings have received significant updates during the past five years, including a new roof, exterior façade improvements, fresh exterior paint, new signage, and new HVAC units.
The site fronts University Boulevard South between Beach Boulevard and Atlantic Boulevard. Memorial Hospital and Brooks Rehabilitation Hospital are less than two miles away, while Downtown Jacksonville is less than five miles from the property. On-site parking includes an overflow lot at the rear, supporting tenant and visitor access.
The site fronts University Boulevard South between Beach Boulevard and Atlantic Boulevard. Memorial Hospital and Brooks Rehabilitation Hospital are less than two miles away, while Downtown Jacksonville is less than five miles from the property. On-site parking includes an overflow lot at the rear, supporting tenant and visitor access.
Key Highlights
- Two office buildings with four spaces totaling 10,026 +/- SF
- Two existing long‑term tenants and two vacancies
- Renovations over the past five years include a new roof, façade work, paint, signage, and HVAC units
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
$144,194
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
6.55%
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%
$2,883,880
$2.9M
Cap Rate 7%
$2,059,914
$2.1M
Cap Rate 9%
$1,602,156
$1.6M
Market Conditions
NOI Build-Up for 10,026 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
$240.6K $24.00/SF
− Vacancy
−$48.4K −$4.82/SF
EGI
$192.3K $19.18/SF
− OpEx
−$48.1K −$4.79/SF
NOI
$144.2K $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%
$2,883,880
Cap Rate 7%
$2,059,914
Cap Rate 9%
$1,602,156
Alternative Uses
Best Use
Office B
$2.06M
$1.80M – $2.40M
NOI $144,194 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.75M
$2.40M – $3.20M
NOI $192,259 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,916
Businesses Nearby
Explore this area
Business Placement
Demographics for 32216, FL
42,847
Population
19,796
Households
2.2
Avg Household Size
37
Median Age
32%
College-Educated
92%
High-School Grad
12.7 sq mi
ZIP Area
3,374
Density / Sq Mi
$63,253
Median Household Income
$44,078
Median Earnings
$1,311
Median Rent
$244,800
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 - Two office buildings offer flexible layouts for professional and medical occupiers, with parking that includes a rear overflow area.
Where is this office building located?
The property is located at 1712 - 1736 University Boulevard South Jacksonville, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Two office buildings with four spaces totaling 10,026 +/- SF; Two existing long‑term tenants and two vacancies; Renovations over the past five years include a new roof, façade work, paint, signage, and HVAC units
