Absolute NNN Wells Fargo
New
For Sale
$4,000,000
4328 Blanding Blvd, Jacksonville, FL 32210
The Jacksonville property includes an Absolute NNN structure and dates to 1962.
Property Size13,193 SF
Days on Market2
Property Features for 4328 Blanding Blvd
General Information
Standard status
Active
Size
13,193 SF
Class
C
Property subtype
Office - Government Office
Building Details
Building Size
13,193 SF
Year Built
1962
Units
15
Listing Agency:
Exclusive Realty
Listed By:
Steve Sagmani · License #6502426558
(248) 833-6601
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 2 at 1:45PM
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 Exclusive Realty
Investment Insights
Based on property information with market context.
This Absolute NNN property is associated with Wells Fargo and is located at 4328 Blanding Blvd in Jacksonville, Florida. The asset was built in 1962, providing a long-established physical presence within the Jacksonville market.
Jacksonville is a major Northeast Florida commercial center supported by financial services, healthcare, logistics, manufacturing, aviation, technology, military, education, and tourism. Regional transportation infrastructure includes Jacksonville International Airport, Interstate 95, Interstate 10, rail networks, and JAXPORT. The metropolitan area also includes beaches, parks, waterfront amenities, universities, hospitals, shopping centers, museums, entertainment venues, and professional sports facilities.
The property is positioned within a city of approximately 1.0 million residents and a seven-county regional market of roughly 1.7 million people. The address, established construction date, identified Wells Fargo tenancy, and Absolute NNN structure define the available property profile.
Jacksonville is a major Northeast Florida commercial center supported by financial services, healthcare, logistics, manufacturing, aviation, technology, military, education, and tourism. Regional transportation infrastructure includes Jacksonville International Airport, Interstate 95, Interstate 10, rail networks, and JAXPORT. The metropolitan area also includes beaches, parks, waterfront amenities, universities, hospitals, shopping centers, museums, entertainment venues, and professional sports facilities.
The property is positioned within a city of approximately 1.0 million residents and a seven-county regional market of roughly 1.7 million people. The address, established construction date, identified Wells Fargo tenancy, and Absolute NNN structure define the available property profile.
Key Highlights
- Absolute NNN property associated with Wells Fargo
- Located at 4328 Blanding Blvd, Jacksonville, FL 32210
- Built in 1962
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
$184,755
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
4.62%
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%
$3,695,100
$3.7M
Cap Rate 7%
$2,639,357
$2.6M
Cap Rate 9%
$2,052,833
$2.1M
Market Conditions
NOI Build-Up for 13,193 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
$316.6K $24.00/SF
− Vacancy
−$70.3K −$5.33/SF
EGI
$246.3K $18.67/SF
− OpEx
−$61.6K −$4.67/SF
NOI
$184.8K $14.00/SF
Area
ZIP 32210
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%
$3,695,100
Cap Rate 7%
$2,639,357
Cap Rate 9%
$2,052,833
Alternative Uses
Best Use
Office B
$2.64M
$2.31M – $3.08M
NOI $184,755 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.61M
$3.16M – $4.22M
NOI $252,989 @ 7.0% cap · market cap 6.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Explore this area
Business Placement
Demographics for 32210, FL
66,415
Population
29,198
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
88%
High-School Grad
21.9 sq mi
ZIP Area
3,033
Density / Sq Mi
$58,215
Median Household Income
$36,997
Median Earnings
$1,205
Median Rent
$205,300
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?
NNN property - The Jacksonville property includes an Absolute NNN structure and dates to 1962.
Where is this nnn property located?
The property is located at 4328 Blanding Blvd Jacksonville, FL.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Absolute NNN property associated with Wells Fargo; Located at 4328 Blanding Blvd, Jacksonville, FL 32210; Built in 1962
