Renovated Office Building with
New
For Sale
$899,000
2442 Atlantic Boulevard, Jacksonville, FL 32207
Flexible office configuration includes private rooms, meeting spaces, reception, a kitchen, and multiple entrances.
Property Size3,614 SF
Price / SF$256.86
Days on Market3
Property Features for 2442 Atlantic Boulevard
General Information
Standard status
Active
Size
3,614 SF
Property subtype
Office
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
3,614 SF
Year Built
1953
Buildings
1
Tenancy
Single
Listing Agency:
(352) 213-1995
Listed By:
Caleb Noble, MSRE
Source:
Naiglobal
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 10 at 2:44AM
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 Caleb Noble, MSRE
Investment Insights
Based on property information with market context.
This professionally renovated office building contains approximately 3,500 square feet with a practical mix of nine private offices, five conference rooms, reception, a kitchen, collaborative meeting areas, and four bathrooms. Two private entrances support the possibility of dividing the space into separate areas. The sale also includes adjacent land that can accommodate future expansion, parking, or outdoor amenities.
The property fronts Atlantic Boulevard in Jacksonville’s San Marco district, with direct access to the boulevard and proximity to Interstate 95. Downtown Jacksonville, the Southbank, and San Marco Square are minutes away. The building is currently occupied by First Coast Court Reporters, with the tenant scheduled to vacate on 10/31/27.
The property fronts Atlantic Boulevard in Jacksonville’s San Marco district, with direct access to the boulevard and proximity to Interstate 95. Downtown Jacksonville, the Southbank, and San Marco Square are minutes away. The building is currently occupied by First Coast Court Reporters, with the tenant scheduled to vacate on 10/31/27.
Key Highlights
- Approximately 3,500‑square‑foot renovated office building
- Nine private offices, five conference rooms, reception, kitchen, and four bathrooms
- Adjacent land included with the sale
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
$50,337
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
5.60%
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%
$1,006,740
$1.0M
Cap Rate 7%
$719,100
$719.1K
Cap Rate 9%
$559,300
$559.3K
Market Conditions
NOI Build-Up for 3,500 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
$84.0K $24.00/SF
− Vacancy
−$16.9K −$4.82/SF
EGI
$67.1K $19.18/SF
− OpEx
−$16.8K −$4.79/SF
NOI
$50.3K $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%
$1,006,740
Cap Rate 7%
$719,100
Cap Rate 9%
$559,300
Alternative Uses
Best Use
Office B
$719.1K
$629.2K – $839.0K
NOI $50,337 @ 7.0% cap · market cap 5.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$958.8K
$839.0K – $1.12M
NOI $67,116 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
601
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 - Flexible office configuration includes private rooms, meeting spaces, reception, a kitchen, and multiple entrances.
Where is this office building located?
The property is located at 2442 Atlantic Boulevard Jacksonville, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Approximately 3,500‑square‑foot renovated office building; Nine private offices, five conference rooms, reception, kitchen, and four bathrooms; Adjacent land included with the sale
