Office Building with Generous
New
For Sale
$1,300,000
2820 Spring Glen Rd, Jacksonville, FL 32207
CCG-2 zoning supports office, retail, automotive, and service-related uses.
Property Size5,571 SF
Lot Size0.93 Acres
Price / SF$233.35
Days on Market2
Property Features for 2820 Spring Glen Rd
General Information
Standard status
Active
Size
5,571 SF
Total Parking Spaces
52
Lot size
0.93 Acres
Zoning
CCG-2
Additional Details
Highway Access
Yes
Office Units
16
Amenities
conference room
kitchen/breakroom
Building Details
Year Built
1960
Listing Agency:
RYAN REAL ESTATE
Listed By:
NICOLE RYAN · License #3323105
(904) 210-5989
Source:
Onewinningteam
Added: Sep 11
Last Checked: Sep 11 at 2:29PM
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 RYAN REAL ESTATE
Investment Insights
Based on property information with market context.
This 1960 office property combines professional workspace with substantial on-site parking and an approximately .93-acre site. The building contains 16 offices, 5 restrooms, a conference room, and a kitchen/breakroom, along with 52 parking spaces. The site also provides land for storage, equipment, or future expansion, as described in the property information.
CCG-2 zoning allows commercial retail sales, new or used automobile sales, service stations, truck stops, automated car washes, professional offices, and business offices. The property is located at 2820 Spring Glen Rd in Jacksonville, with access to I-95, Atlantic Blvd, Arlington Expressway, Beach Blvd, and Southside Blvd.
CCG-2 zoning allows commercial retail sales, new or used automobile sales, service stations, truck stops, automated car washes, professional offices, and business offices. The property is located at 2820 Spring Glen Rd in Jacksonville, with access to I-95, Atlantic Blvd, Arlington Expressway, Beach Blvd, and Southside Blvd.
Key Highlights
- 16‑office building with 5 restrooms
- 52 parking spaces on a .93‑acre site
- Conference room and kitchen/breakroom included
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
$80,122
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
6.16%
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%
$1,602,440
$1.6M
Cap Rate 7%
$1,144,600
$1.1M
Cap Rate 9%
$890,244
$890.2K
Market Conditions
NOI Build-Up for 5,571 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
$133.7K $24.00/SF
− Vacancy
−$26.9K −$4.82/SF
EGI
$106.8K $19.18/SF
− OpEx
−$26.7K −$4.79/SF
NOI
$80.1K $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%
$1,602,440
Cap Rate 7%
$1,144,600
Cap Rate 9%
$890,244
Alternative Uses
Best Use
Office B
$1.14M
$1.00M – $1.34M
NOI $80,122 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $106,829 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
16
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,336
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - CCG-2 zoning supports office, retail, automotive, and service-related uses.
Where is this office building located?
The property is located at 2820 Spring Glen Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 16‑office building with 5 restrooms; 52 parking spaces on a .93‑acre site; Conference room and kitchen/breakroom included
