CCG-1 Office
For Sale
$625,000
2968 Rainbow Rd, Jacksonville, FL 32217
Existing office property with CCG-1 zoning and a Jacksonville address.
Property Size2,443 SF
Price / SF$255.83
Days on Market333
Property Features for 2968 Rainbow Rd
General Information
Standard status
Active
Size
2,443 SF
Property subtype
Office
Zoning
CCG-1
Taxes and HOA fees
Annual Taxes
$5,611
Amenities
3
Building Details
Year Built
1954
Listing Agency:
(602) 702-4288
Listed By:
Coldwell Banker Commercial Premier Properties
(602) 702-4288
Source:
Xome
Added: Oct 3, 2025
Changed: Aug 29
Last Checked: Aug 30 at 3:17PM
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 Coldwell Banker Commercial Premier Properties
Investment Insights
Based on property information with market context.
This office building contains 2,443 square feet and was constructed in 1954. The property carries CCG-1 zoning and is located at 2968 Rainbow Rd in Jacksonville, Florida.
Key Highlights
- 2,443 SF office building
- Constructed in 1954
- CCG‑1 zoning
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
$35,135
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
5.62%
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%
$702,700
$702.7K
Cap Rate 7%
$501,929
$501.9K
Cap Rate 9%
$390,389
$390.4K
Market Conditions
NOI Build-Up for 2,443 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
$58.6K $24.00/SF
− Vacancy
−$11.8K −$4.82/SF
EGI
$46.8K $19.18/SF
− OpEx
−$11.7K −$4.79/SF
NOI
$35.1K $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%
$702,700
Cap Rate 7%
$501,929
Cap Rate 9%
$390,389
Alternative Uses
Best Use
Office B
$501.9K
$439.2K – $585.6K
NOI $35,135 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$669.2K
$585.6K – $780.8K
NOI $46,847 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,625
Businesses Nearby
Explore this area
Business Placement
Demographics for 32217, FL
20,543
Population
9,632
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
94%
High-School Grad
5.4 sq mi
ZIP Area
3,804
Density / Sq Mi
$69,742
Median Household Income
$44,147
Median Earnings
$1,190
Median Rent
$291,300
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 - Existing office property with CCG-1 zoning and a Jacksonville address.
Where is this office building located?
The property is located at 2968 Rainbow Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,443 SF office building; Constructed in 1954; CCG‑1 zoning
