Modernized Two-Story Office
For Sale
$5,000,000
3390 Kori Road, Jacksonville, FL 32257
Renovated office building offering a range of turnkey suites with ample on-site parking and convenient highway access.
Property Size34,938 SF
Price / SF$312.50
Days on Market71
Property Features for 3390 Kori Road
General Information
Standard status
Active
Size
34,938 SF
Class
A
Property subtype
Multi Tenant Office
Additional Details
Highway Access
Yes
Building Details
Building Size
34,938 SF
Year Built
1980
Year Renovated
2020
Stories
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Premier Properties
(904) 537-6443
Listed By:
Eric Maimo · License #SL3254822
(904) 537-6443
Source:
Thebrokerlist
Added: Jun 3
Changed: Aug 12
Last Checked: Aug 12 at 3:13AM
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 Premier Properties
Investment Insights
Based on property information with market context.
This two-story office building was comprehensively renovated in 2020 and is presented as a modernized, turnkey property with a variety of suite configurations. Available office suites range from smaller spaces to a larger suite, including options with private offices, as well as training rooms designed for knowledge sharing. The property also includes co-working space for organizations seeking a more collaborative environment. The renovation scope includes modern amenities and technology integrated throughout the office areas, supporting use by teams that require both private workspaces and shared meeting or training settings.
The building is located at 3390 Kori Road near the San Jose corridor. Access is described as convenient to Highway 295, providing a direct route to Downtown Jacksonville in approximately 23 minutes. The surrounding area includes access to The Avenues, a shopping destination with major retailers such as Belk and Dillard’s. Ample free parking is available on-site, supporting day-to-day operations and visitor traffic.
Designed to accommodate a range of business types, the property fits professional and service uses such as call centers, marketing centers, government offices, event venues, and other office-based firms. The mix of suite sizes supports both smaller teams and a larger owner-occupant opportunity, while the on-site parking and highway connectivity provide practical convenience for employees and clients.
The building is located at 3390 Kori Road near the San Jose corridor. Access is described as convenient to Highway 295, providing a direct route to Downtown Jacksonville in approximately 23 minutes. The surrounding area includes access to The Avenues, a shopping destination with major retailers such as Belk and Dillard’s. Ample free parking is available on-site, supporting day-to-day operations and visitor traffic.
Designed to accommodate a range of business types, the property fits professional and service uses such as call centers, marketing centers, government offices, event venues, and other office-based firms. The mix of suite sizes supports both smaller teams and a larger owner-occupant opportunity, while the on-site parking and highway connectivity provide practical convenience for employees and clients.
Key Highlights
- Renovated two‑story office building built in 1980 with a comprehensive renovation completed in 2020
- Available suite sizes range from 390 to 16,000 SF, including private offices and training rooms
- Includes a 16,000 SF suite suitable for an owner occupant, plus smaller suites for companies of one to four
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
$230,112
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
4.60%
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%
$4,602,240
$4.6M
Cap Rate 7%
$3,287,314
$3.3M
Cap Rate 9%
$2,556,800
$2.6M
Market Conditions
NOI Build-Up for 16,000 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
$384.0K $24.00/SF
− Vacancy
−$77.2K −$4.82/SF
EGI
$306.8K $19.18/SF
− OpEx
−$76.7K −$4.79/SF
NOI
$230.1K $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%
$4,602,240
Cap Rate 7%
$3,287,314
Cap Rate 9%
$2,556,800
Alternative Uses
Best Use
Office B
$3.29M
$2.88M – $3.84M
NOI $230,112 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.38M
$3.84M – $5.11M
NOI $306,816 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,463
Businesses Nearby
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?
Office building - Renovated office building offering a range of turnkey suites with ample on-site parking and convenient highway access.
Where is this office building located?
The property is located at 3390 Kori Road Jacksonville, FL.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Renovated two‑story office building built in 1980 with a comprehensive renovation completed in 2020; Available suite sizes range from 390 to 16,000 SF, including private offices and training rooms; Includes a 16,000 SF suite suitable for an owner occupant, plus smaller suites for companies of one to four
