Move-in Ready Medical Office
For Sale
$379,000
4131 UNIVERSITY Blvd S 5, Jacksonville, FL 32216
Medical office building with multiple exam rooms, seven restrooms, and updated HVAC systems for immediate occupancy.
Property Size1,840 SF
Days on Market50
Property Features for 4131 UNIVERSITY Blvd S 5
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,143
Amenities
large waiting room
multiple private offices
exam rooms with sinks
seven restrooms
Building Details
Building Size
1,840 SF
Year Built
1974
Buildings
1
Listing Agency:
NEXTHOME ENDLESS SUMMER
Listed By:
Andrew Bell · License #3618738,PersonLicenseNumber
(904) 294-3739
Source:
Elliman
Added: Jul 28
Changed: Sep 10
Last Checked: Sep 14 at 6:26AM
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 NEXTHOME ENDLESS SUMMER
Investment Insights
Based on property information with market context.
Move-in ready medical office building featuring a large waiting room, seven restrooms, and multiple private offices. All exam rooms include sinks, supporting day-to-day patient care workflows. The interior has been newly renovated, and the property is described as deliverable furnished. Recent building improvements include a new roof, floors, windows, and interior paint.
The HVAC systems are stated to be in working order, with two HVACs reported as two years old and all three HVAC units included. The building can be divided to accommodate multiple tenants, providing flexibility for medical practices or suites.
Located just off University Blvd S, the property is described as visible to 40,000+ vehicles per day. The office park is described as about five minutes from large healthcare providers including Memorial Hospital, Brooks Rehabilitation, and the dense medical corridor on Jacksonville’s South Bank.
The HVAC systems are stated to be in working order, with two HVACs reported as two years old and all three HVAC units included. The building can be divided to accommodate multiple tenants, providing flexibility for medical practices or suites.
Located just off University Blvd S, the property is described as visible to 40,000+ vehicles per day. The office park is described as about five minutes from large healthcare providers including Memorial Hospital, Brooks Rehabilitation, and the dense medical corridor on Jacksonville’s South Bank.
Key Highlights
- 7 restrooms plus large waiting room and multiple private offices
- All exam rooms include sinks
- New roof, floors, windows, and interior paint
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
$29,808
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
7.86%
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%
$596,160
$596.2K
Cap Rate 7%
$425,829
$425.8K
Cap Rate 9%
$331,200
$331.2K
Market Conditions
NOI Build-Up for 1,840 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
$55.2K $30.00/SF
− Vacancy
−$5.5K −$3.00/SF
EGI
$49.7K $27.00/SF
− OpEx
−$19.9K −$10.80/SF
NOI
$29.8K $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%
$596,160
Cap Rate 7%
$425,829
Cap Rate 9%
$331,200
Alternative Uses
Best Use
Healthcare Medical
$425.8K
$372.6K – $496.8K
NOI $29,808 @ 7.0% cap · market cap 7.86%
Second Best
Office B
$378.0K
$330.8K – $441.1K
NOI $26,463 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$504.1K
$441.1K – $588.1K
NOI $35,284 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,422
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32216, FL
42,847
Population
19,796
Households
2.2
Avg Household Size
37
Median Age
32%
College-Educated
92%
High-School Grad
12.7 sq mi
ZIP Area
3,374
Density / Sq Mi
$63,253
Median Household Income
$44,078
Median Earnings
$1,311
Median Rent
$244,800
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 - Medical office building with multiple exam rooms, seven restrooms, and updated HVAC systems for immediate occupancy.
Where is this medical office space located?
The property is located at 4131 UNIVERSITY Blvd S 5 Jacksonville, FL.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 7 restrooms plus large waiting room and multiple private offices; All exam rooms include sinks; New roof, floors, windows, and interior paint
