Office Unit with Reception
For Sale
$229,900
5010 BLACKBURN Street, Jacksonville, FL 32210
Commercial Sale, Jacksonville, FL
Property Size1,353 SF
Lot Size0.18 Acres
Price / SF$169.92
Days on Market497
Property Features for 5010 BLACKBURN Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial/Residential/Office
Parking features
Off Street, On Street
Subdivision
Lakeshore
Lot features
Corner Lot
Directions
From I-295 W Beltway take the FL134 (103rd St) exit and head east about 2.9 miles. Turn North onto Blanding Blvd. Go 2.1 miles and use the left lane to turn left onto Cassat Ave then turn left onto Blackburn St. Destination will be on the left.
Standard status
Active
APN
0948210005
Size
1,353 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2146
Utilities
Sewer type
Septic Tank
Cooling system
Ceiling Fan(s), Electric
Water source
Public
Building Details
Year built
1942
Floors in Building
1
Flooring type
Wood
Building materials
Brick, Frame
Roof type
Composition, Shingle
Listing Agency:
COLDWELL BANKER VANGUARD REALTY · Coldwell Banker Real Estate
(904) 269-7117
Listed By:
HENRY HAMMOND, JR · License #3336763
(904) 806-1218
Added: Apr 23, 2025
Changed: Aug 20
Last Checked: Sep 1 at 9:06PM
MLS# 2083383
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,353-square-foot office unit is a frame structure with brick veneer, wood flooring, and a layout that can accommodate three or more offices along with reception and waiting areas. Additional interior components include a sunroom, kitchen, utility room, bathroom, and closet storage. Recent paint is noted, while the kitchen and bathroom require renovation and the HVAC system needs replacement.
Built in 1942, the property occupies 0.18 acres at 5010 Blackburn Street in Jacksonville. Parking is available both on and off street. The site is served by public water and a septic tank, with a composition shingle roof.
Built in 1942, the property occupies 0.18 acres at 5010 Blackburn Street in Jacksonville. Parking is available both on and off street. The site is served by public water and a septic tank, with a composition shingle roof.
Key Highlights
- 1,353‑square‑foot office unit on a 0.18‑acre parcel
- Layout supports 3 or more offices, reception, and waiting areas
- Sunroom, kitchen, utility room, bathroom, and closet storage
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
$18,947
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
8.24%
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%
$378,940
$378.9K
Cap Rate 7%
$270,671
$270.7K
Cap Rate 9%
$210,522
$210.5K
Market Conditions
NOI Build-Up for 1,353 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
$32.5K $24.00/SF
− Vacancy
−$7.2K −$5.33/SF
EGI
$25.3K $18.67/SF
− OpEx
−$6.3K −$4.67/SF
NOI
$18.9K $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%
$378,940
Cap Rate 7%
$270,671
Cap Rate 9%
$210,522
Alternative Uses
Best Use
Office B
$270.7K
$236.8K – $315.8K
NOI $18,947 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$370.6K
$324.3K – $432.4K
NOI $25,945 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
987
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?
Office units - Wood-floored office layout with private rooms, waiting space, storage, and a sunroom.
Where is this office units located?
The property is located at 5010 BLACKBURN Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 1,353‑square‑foot office unit on a 0.18‑acre parcel; Layout supports 3 or more offices, reception, and waiting areas; Sunroom, kitchen, utility room, bathroom, and closet storage
