Commercial Land in Growing
For Sale
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2604 NEW BERLIN Road, Jacksonville, FL 32226
One-acre commercial land parcel in a rapidly growing area.
Property Size1,208 SF
Lot Size1.00 Acre
Price / SF$239.24
Days on Market703
Property Features for 2604 NEW BERLIN Road
General Information
Standard status
Active
Size
1,208 SF
Lot size
1.00 Acre
Property subtype
Land, Office, Retail
Zoning
CRO
Investment Type
Redevelopment
Building Details
Year Built
1956
Buildings
1
Stories
1
Listing Agency:
BELLE EPOQUE REALTY SERVICES LLC
(904) 382-7695
Listed By:
Thomas Love · License #3118560
Source:
Crexi
Added: Sep 26, 2024
Changed: Aug 25
Last Checked: Aug 28 at 12:09PM
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 BELLE EPOQUE REALTY SERVICES LLC
Investment Insights
Based on property information with market context.
Located in a rapidly growing area of Jacksonville, the property at 2604 New Berlin Road presents an opportunity for investors. The parcel, recently rezoned CO, spans approximately one acre. It is suitable for commercial or office development. The property benefits from high visibility and traffic exposure, positioning it to meet the needs of businesses.
Key Highlights
- Prime location in a rapidly growing area of Jacksonville.
- Recently rezoned CO parcel suitable for commercial or office development.
- Approximately one acre in size.
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
$17,373
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
6.01%
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%
$347,460
$347.5K
Cap Rate 7%
$248,186
$248.2K
Cap Rate 9%
$193,033
$193.0K
Market Conditions
NOI Build-Up for 1,208 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
$29.0K $24.00/SF
− Vacancy
−$5.8K −$4.82/SF
EGI
$23.2K $19.18/SF
− OpEx
−$5.8K −$4.79/SF
NOI
$17.4K $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%
$347,460
Cap Rate 7%
$248,186
Cap Rate 9%
$193,033
Alternative Uses
Best Use
Office B
$248.2K
$217.2K – $289.6K
NOI $17,373 @ 7.0% cap · market cap 6.01%
Second Best
Retail
$195.0K
$170.7K – $227.6K
NOI $13,653 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$330.9K
$289.6K – $386.1K
NOI $23,165 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
Business Placement
Demographics for 32226, FL
20,306
Population
7,707
Households
2.6
Avg Household Size
39
Median Age
36%
College-Educated
93%
High-School Grad
85.7 sq mi
ZIP Area
237
Density / Sq Mi
$109,375
Median Household Income
$53,400
Median Earnings
$2,062
Median Rent
$340,500
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?
Commercial land - One-acre commercial land parcel in a rapidly growing area.
Where is this commercial land located?
The property is located at 2604 NEW BERLIN Road Jacksonville, FL.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Prime location in a rapidly growing area of Jacksonville.; Recently rezoned CO parcel suitable for commercial or office development.; Approximately one acre in size.
