Multi-Tenant Office
For Sale
$1,395,000
4540 Southside Blvd Bldg 500, Jacksonville, FL 32216
Four separately parceled office condominiums offer a single-story configuration with access to Jacksonville’s Southside business corridor.
Property Size4,739 SF
Days on Market10
Property Features for 4540 Southside Blvd Bldg 500
General Information
Standard status
Active
Size
4,739 SF
Property subtype
Office
Occupancy
40%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
1
Office Units
4
Building Details
Building Size
4,739 SF
Year Built
1996
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
(904) 404-4455
Listed By:
Daniel Burkhardt, SIOR, CCIM, MSRE
Source:
Naihallmark
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 30 at 3:06PM
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 Daniel Burkhardt, SIOR, CCIM, MSRE
Investment Insights
Based on property information with market context.
This offering comprises Units 501–504 within a single-story, multi-tenant office condominium building at Southside Professional Center. Each unit is established as a separate parcel, creating a four-unit configuration in a property built in 1996. Current occupancy is 40%, and the asset is positioned for both investment and owner-user consideration.
The property has frontage on Southside Boulevard and sits less than one mile from J. Turner Butler Boulevard and I-95, with additional access to I-295. Its location provides connectivity to Jacksonville’s Beaches and Downtown, as well as nearby employment and entertainment destinations including the University of North Florida, Deerwood North, Tapestry Park, and St. Johns Town Center.
The surrounding five-mile trade area includes 228,000 residents and average annual household income exceeding $100,000. The property is located in Jacksonville, Florida, within the Southside submarket.
The property has frontage on Southside Boulevard and sits less than one mile from J. Turner Butler Boulevard and I-95, with additional access to I-295. Its location provides connectivity to Jacksonville’s Beaches and Downtown, as well as nearby employment and entertainment destinations including the University of North Florida, Deerwood North, Tapestry Park, and St. Johns Town Center.
The surrounding five-mile trade area includes 228,000 residents and average annual household income exceeding $100,000. The property is located in Jacksonville, Florida, within the Southside submarket.
Key Highlights
- Units 501–504 are configured as four separate parcels
- Single‑story office condominium building built in 1996
- Current occupancy is 40%
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
$68,156
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
4.89%
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%
$1,363,120
$1.4M
Cap Rate 7%
$973,657
$973.7K
Cap Rate 9%
$757,289
$757.3K
Market Conditions
NOI Build-Up for 4,739 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
$113.7K $24.00/SF
− Vacancy
−$22.9K −$4.82/SF
EGI
$90.9K $19.18/SF
− OpEx
−$22.7K −$4.79/SF
NOI
$68.2K $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%
$1,363,120
Cap Rate 7%
$973,657
Cap Rate 9%
$757,289
Alternative Uses
Best Use
Office B
$973.7K
$852.0K – $1.14M
NOI $68,156 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.51M
NOI $90,875 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Office units
40%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,167
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Four separately parceled office condominiums offer a single-story configuration with access to Jacksonville’s Southside business corridor.
Where is this office units located?
The property is located at 4540 Southside Blvd Bldg 500 Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Units 501–504 are configured as four separate parcels; Single‑story office condominium building built in 1996; Current occupancy is 40%
