Built-Out School and
For Sale
Contact for pricing
2804 Saint Johns Bluff Road South Suite 103, Jacksonville, FL 32246
Fully built-out property currently operating as a college prep school for grades 4 through 12.
Property Size5,200 SF
Price / SF$224.81
Days on Market65
Property Features for 2804 Saint Johns Bluff Road South Suite 103
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Special Purpose
Lease Type
NNN
Listing Agency:
Pine Street / RPS
(904) 398-1044
Listed By:
Jack Robison · License #SL3480686
Source:
Crexi
Added: Jun 10
Changed: Aug 8
Last Checked: Aug 12 at 1:57PM
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 Pine Street / RPS
Investment Insights
Based on property information with market context.
This school property is fully built out for school use and is currently operating as a college prep school serving grades 4 through 12. The offering is priced without the playground located at the rear of the property, with the option to include it.
The layout supports ongoing operations as a school, and the property description also notes it could be used as office space.
As presented, the building is ready for an education-style tenant, with the key differentiator being whether the rear playground area is included with the sale.
The layout supports ongoing operations as a school, and the property description also notes it could be used as office space.
As presented, the building is ready for an education-style tenant, with the key differentiator being whether the rear playground area is included with the sale.
Key Highlights
- Fully built‑out school property currently operating as a college prep school for grades 4–12
- Can be used for school or office purposes based on the current built‑out layout
- Listed price is $1,169,000, priced without the playground at the rear of the property
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
$74,786
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
6.40%
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%
$1,495,720
$1.5M
Cap Rate 7%
$1,068,371
$1.1M
Cap Rate 9%
$830,956
$831.0K
Market Conditions
NOI Build-Up for 5,200 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
$124.8K $24.00/SF
− Vacancy
−$25.1K −$4.82/SF
EGI
$99.7K $19.18/SF
− OpEx
−$24.9K −$4.79/SF
NOI
$74.8K $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%
$1,495,720
Cap Rate 7%
$1,068,371
Cap Rate 9%
$830,956
Alternative Uses
Best Use
Office B
$1.07M
$934.8K – $1.25M
NOI $74,786 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.25M – $1.66M
NOI $99,715 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Explore this area
Business Placement
Demographics for 32246, FL
58,105
Population
26,083
Households
2.2
Avg Household Size
36
Median Age
39%
College-Educated
93%
High-School Grad
19.1 sq mi
ZIP Area
3,042
Density / Sq Mi
$78,506
Median Household Income
$46,446
Median Earnings
$1,697
Median Rent
$281,800
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?
School - Fully built-out property currently operating as a college prep school for grades 4 through 12.
Where is this school located?
The property is located at 2804 Saint Johns Bluff Road South Suite 103 Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,169,000.
What are key features of this property?
This property features: Fully built‑out school property currently operating as a college prep school for grades 4–12; Can be used for school or office purposes based on the current built‑out layout; Listed price is $1,169,000, priced without the playground at the rear of the property
