Private Office Units in Blackstone
For Sale
$1,093,275
233 E Bay St Unit 901, Jacksonville, FL 32202
Turnkey professional suites include utilities for streamlined occupancy and day-to-day operations.
Property Size4,859 SF
Price / SF$225
Days on Market115
Property Features for 233 E Bay St Unit 901
General Information
Standard status
Active
Size
4,859 SF
Property subtype
Commercial
Building Details
Year Built
1974
Listing Agency:
COLDWELL BANKER PREMIER PROPERTIES
(904) 537-6443
Listed By:
ERIC MAIMO · License #3254822
Source:
Myfirstcoasthomesearch
Added: May 8
Changed: Aug 29
Last Checked: Aug 30 at 6:11PM
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 COLDWELL BANKER PREMIER PROPERTIES
Investment Insights
Based on property information with market context.
The Blackstone Building offers private office suites within a 4,859-square-foot professional property completed in 1974. Individual offices are configured as dedicated workspaces for professional use, providing occupants with a defined setting for daily business activities.
Located at 233 E Bay St Unit 901 in Downtown Jacksonville, the property places office users in a central urban setting. Utilities are included as part of the lease arrangement, creating a simplified occupancy structure for businesses seeking furnished operational convenience without separately managing utility accounts.
Located at 233 E Bay St Unit 901 in Downtown Jacksonville, the property places office users in a central urban setting. Utilities are included as part of the lease arrangement, creating a simplified occupancy structure for businesses seeking furnished operational convenience without separately managing utility accounts.
Key Highlights
- 4,859‑square‑foot office property
- Private office suites for professional users
- Utilities included in the lease arrangement
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
$69,882
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
6.39%
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%
$1,397,640
$1.4M
Cap Rate 7%
$998,314
$998.3K
Cap Rate 9%
$776,467
$776.5K
Market Conditions
NOI Build-Up for 4,859 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
$116.6K $24.00/SF
− Vacancy
−$23.4K −$4.82/SF
EGI
$93.2K $19.18/SF
− OpEx
−$23.3K −$4.79/SF
NOI
$69.9K $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%
$1,397,640
Cap Rate 7%
$998,314
Cap Rate 9%
$776,467
Alternative Uses
Best Use
Office B
$998.3K
$873.5K – $1.16M
NOI $69,882 @ 7.0% cap · market cap 6.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,176 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,563
Businesses Nearby
Explore this area
Business Placement
Demographics for 32202, FL
6,544
Population
2,789
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
78%
High-School Grad
2.0 sq mi
ZIP Area
3,272
Density / Sq Mi
$40,070
Median Household Income
$30,938
Median Earnings
$1,024
Median Rent
$229,100
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 units - Turnkey professional suites include utilities for streamlined occupancy and day-to-day operations.
Where is this office units located?
The property is located at 233 E Bay St Unit 901 Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,093,275.
What are key features of this property?
This property features: 4,859‑square‑foot office property; Private office suites for professional users; Utilities included in the lease arrangement
