Multi-Unit Office
For Sale
$1,500,000
3890 Dunn Avenue, Jacksonville, FL 32218
Multi-tenant building with four units and full occupancy, positioned for office or medical operations at 3890 Dunn Avenue.
Property Size4,560 SF
Price / SF$328.95
Days on Market98
Property Features for 3890 Dunn Avenue
General Information
Standard status
Active
Size
4,560 SF
Class
B
Property subtype
Office
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Building Size
4,560 SF
Listed By:
Amanda Hardy
(904) 258-4524
Source:
Svrcommercial
Added: Jun 1
Changed: Sep 4
Last Checked: Sep 5 at 4:14AM
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 Amanda Hardy
Investment Insights
Based on property information with market context.
This for-sale multi-unit office building contains four separate units within a total 4,560 SF property. The offering is currently 100% occupied, with the existing configuration supporting office and medical use.
Located at 3890 Dunn Avenue in Jacksonville, FL 32218, the property is presented as a turnkey option for buyers seeking an income-producing office asset with established tenancy. The public remarks describe the site as being in a sought-after area.
For prospective tenants, the four-unit layout can align well with professional needs that support either office or medical operations, depending on individual space requirements. For buyers, the key operational feature is the fully leased status, with the property positioned to support continued occupancy under its current unit-based arrangement. Please note that further details on unit mix, interior condition, and any specific tenant terms are not included in the provided information.
Located at 3890 Dunn Avenue in Jacksonville, FL 32218, the property is presented as a turnkey option for buyers seeking an income-producing office asset with established tenancy. The public remarks describe the site as being in a sought-after area.
For prospective tenants, the four-unit layout can align well with professional needs that support either office or medical operations, depending on individual space requirements. For buyers, the key operational feature is the fully leased status, with the property positioned to support continued occupancy under its current unit-based arrangement. Please note that further details on unit mix, interior condition, and any specific tenant terms are not included in the provided information.
Key Highlights
- 4,560 SF multi‑tenant building built in 2007
- 4 total units and currently 100% occupied
- Address: 3890 Dunn Avenue in Jacksonville, FL
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
$63,858
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
4.26%
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%
$1,277,160
$1.3M
Cap Rate 7%
$912,257
$912.3K
Cap Rate 9%
$709,533
$709.5K
Market Conditions
NOI Build-Up for 4,560 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
$109.4K $24.00/SF
− Vacancy
−$24.3K −$5.33/SF
EGI
$85.1K $18.67/SF
− OpEx
−$21.3K −$4.67/SF
NOI
$63.9K $14.00/SF
Area
ZIP 32218
Vacancy
22.20%
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%
$1,277,160
Cap Rate 7%
$912,257
Cap Rate 9%
$709,533
Alternative Uses
Best Use
Office B
$912.3K
$798.2K – $1.06M
NOI $63,858 @ 7.0% cap · market cap 4.26%
Second Best
Healthcare Medical
$908.0K
$794.5K – $1.06M
NOI $63,563 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,144 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 32218, FL
67,040
Population
27,895
Households
2.4
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
96.7 sq mi
ZIP Area
693
Density / Sq Mi
$68,363
Median Household Income
$37,322
Median Earnings
$1,416
Median Rent
$260,300
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 units - Multi-tenant building with four units and full occupancy, positioned for office or medical operations at 3890 Dunn Avenue.
Where is this office units located?
The property is located at 3890 Dunn Avenue Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 4,560 SF multi‑tenant building built in 2007; 4 total units and currently 100% occupied; Address: 3890 Dunn Avenue in Jacksonville, FL
