Medical Office with NN+
For Sale
Contact for pricing
3007 Hartley Rd, Jacksonville, FL 32257
Specialized oral and facial surgery facility positioned near major retailers, medical users, and national restaurant operators.
Property Size3,772 SF
Price / SF$357.84
Days on Market206
Property Features for 3007 Hartley Rd
General Information
Standard status
Active
Size
3,772 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Building Details
Tenancy
Single
Listing Agency:
RIPCO Real Estate | Tampa
(904) 378-6228
Listed By:
Joe Simpson · License #SL-3210827
(904) 378-6228
Source:
Moodyscre
Added: Feb 6
Changed: Aug 31
Last Checked: Aug 31 at 12:43AM
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 RIPCO Real Estate | Tampa
Investment Insights
Based on property information with market context.
This 3,772-square-foot medical office property is leased on a NN+ structure with 6.5 years remaining in the initial term and one 5-year extension option. The lease provides a 2% annual increase followed by 3% annual increases through the balance of the initial term and option period. The landlord retains responsibility for roof, structural, and parking lot replacement.
North Florida Oral & Facial Surgery occupies the facility, which includes specialized surgical equipment and a customized medical build-out. The property is located at 3007 Hartley Rd in Jacksonville, approximately 0.2 miles from the Interstate 295 on-ramp via San Jose Boulevard. Surrounding commercial users include Publix, Whole Foods, multiple medical practices, and national credit restaurant chains. The nearby interchange reports aggregate AADT of 195,000, while the 1-mile daytime population is 11,153.
North Florida Oral & Facial Surgery occupies the facility, which includes specialized surgical equipment and a customized medical build-out. The property is located at 3007 Hartley Rd in Jacksonville, approximately 0.2 miles from the Interstate 295 on-ramp via San Jose Boulevard. Surrounding commercial users include Publix, Whole Foods, multiple medical practices, and national credit restaurant chains. The nearby interchange reports aggregate AADT of 195,000, while the 1-mile daytime population is 11,153.
Key Highlights
- 3,772‑square‑foot medical office property
- 6.5 years remain on a NN+ lease with one 5‑year extension option
- Annual lease increases include 2% followed by 3% increases through the initial and option terms
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
$61,106
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
4.53%
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%
$1,222,120
$1.2M
Cap Rate 7%
$872,943
$872.9K
Cap Rate 9%
$678,956
$679.0K
Market Conditions
NOI Build-Up for 3,772 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
$113.2K $30.00/SF
− Vacancy
−$11.3K −$3.00/SF
EGI
$101.8K $27.00/SF
− OpEx
−$40.7K −$10.80/SF
NOI
$61.1K $16.20/SF
Area
Jacksonville, FL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,222,120
Cap Rate 7%
$872,943
Cap Rate 9%
$678,956
Alternative Uses
Best Use
Healthcare Medical
$872.9K
$763.8K – $1.02M
NOI $61,106 @ 7.0% cap · market cap 4.53%
Second Best
Office B
$775.0K
$678.1K – $904.2K
NOI $54,249 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$1.03M
$904.2K – $1.21M
NOI $72,332 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32257, FL
41,439
Population
18,465
Households
2.2
Avg Household Size
40
Median Age
36%
College-Educated
93%
High-School Grad
12.3 sq mi
ZIP Area
3,369
Density / Sq Mi
$75,180
Median Household Income
$45,772
Median Earnings
$1,441
Median Rent
$305,000
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?
Medical Office Space - Specialized oral and facial surgery facility positioned near major retailers, medical users, and national restaurant operators.
Where is this medical office space located?
The property is located at 3007 Hartley Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,349,760.
What are key features of this property?
This property features: 3,772‑square‑foot medical office property; 6.5 years remain on a NN+ lease with one 5‑year extension option; Annual lease increases include 2% followed by 3% increases through the initial and option terms
