Professional Office Building with
For Sale
Contact for pricing
2618 Herschel St, Jacksonville, FL 32204
Built in 2010 with climate-controlled 2.5-bay garage, fully sprinklered system, and 13-space concrete parking lot.
Property Size5,755 SF
Lot Size0.41 Acres
Price / SF$443.09
Days on Market199
Property Features for 2618 Herschel St
General Information
Standard status
Active
Size
5,755 SF
Total Parking Spaces
13
Lot size
0.41 Acres
Property subtype
OFFICE
Zoning
CRO
Additional Details
Sprinkler System
Yes
Building Details
Year Built
2010
Listing Agency:
Colliers | Jacksonville
(904) 358-1206
Listed By:
Chuck Diebel · License #BK564728
(904) 591-1448
Source:
Moodyscre
Added: Feb 26
Changed: Aug 14
Last Checked: Sep 13 at 9:05AM
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 Colliers | Jacksonville
Investment Insights
Based on property information with market context.
Built in 2010, this professional office building offers 5,030± SF of office space plus an additional 725 SF of storage or archive space on the third floor. The property is fully sprinklered and stated to meet current code. A 570± SF climate-controlled, 2.5-bay car garage was constructed in 2017, providing dedicated onsite space. Parking includes a 13-space concrete lot, with adjacent on-street parking available for added flexibility.
The building is zoned CRO and is located at 2618 Herschel St, Jacksonville, FL 32204.
The building is zoned CRO and is located at 2618 Herschel St, Jacksonville, FL 32204.
Key Highlights
- 5,030± SF professional office building plus 725± SF storage/archive space on the third floor
- Built in 2010 and fully sprinklered to meet current code
- 0.41± AC site with a 13‑space concrete parking lot and adjacent on‑street parking
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
$82,768
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
3.25%
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%
$1,655,360
$1.7M
Cap Rate 7%
$1,182,400
$1.2M
Cap Rate 9%
$919,644
$919.6K
Market Conditions
NOI Build-Up for 5,755 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
$138.1K $24.00/SF
− Vacancy
−$27.8K −$4.82/SF
EGI
$110.4K $19.18/SF
− OpEx
−$27.6K −$4.79/SF
NOI
$82.8K $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%
$1,655,360
Cap Rate 7%
$1,182,400
Cap Rate 9%
$919,644
Alternative Uses
Best Use
Office B
$1.18M
$1.03M – $1.38M
NOI $82,768 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,358 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
2,519
Businesses Nearby
Explore this area
Business Placement
Demographics for 32204, FL
8,673
Population
5,342
Households
1.6
Avg Household Size
39
Median Age
41%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
3,212
Density / Sq Mi
$54,462
Median Household Income
$47,872
Median Earnings
$1,132
Median Rent
$342,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Office building - Built in 2010 with climate-controlled 2.5-bay garage, fully sprinklered system, and 13-space concrete parking lot.
Where is this office building located?
The property is located at 2618 Herschel St Jacksonville, FL.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 5,030± SF professional office building plus 725± SF storage/archive space on the third floor; Built in 2010 and fully sprinklered to meet current code; 0.41± AC site with a 13‑space concrete parking lot and adjacent on‑street parking
