North Main Street Office
For Sale
$278,000
Pending
505-13453 N Main St, Jacksonville, FL 32233
Commercial office condo investment opportunity, fully occupied until 2029.
Property Size1,250 SF
Days on Market426
Property Features for 505-13453 N Main St
General Information
Standard status
Pending
Size
1,250 SF
Taxes and HOA fees
Annual Taxes
$4,636
Listing Agency:
CENTURY 21 INTEGRA
(727) 387-6261
Listed By:
DEBBIE FARAH · License #3519428
(904) 614-8585
Source:
Exprealty
Added: Jul 5, 2025
Changed: Aug 20
Last Checked: Sep 1 at 10:26PM
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 CENTURY 21 INTEGRA
Investment Insights
Based on property information with market context.
This commercial office condo, situated on North Main Street, offers an investment opportunity. The property is currently fully occupied until 2029, with annual rent increases. The property offers a competitive 7% cap rate.
Key Highlights
- Prime commercial office condo: Excellent investment opportunity.
- Located on prestigious North Main Street.
- Competitive 7% cap rate.
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
$17,978
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
6.47%
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%
$359,560
$359.6K
Cap Rate 7%
$256,829
$256.8K
Cap Rate 9%
$199,756
$199.8K
Market Conditions
NOI Build-Up for 1,250 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
$30.0K $24.00/SF
− Vacancy
−$6.0K −$4.82/SF
EGI
$24.0K $19.18/SF
− OpEx
−$6.0K −$4.79/SF
NOI
$18.0K $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%
$359,560
Cap Rate 7%
$256,829
Cap Rate 9%
$199,756
Alternative Uses
Best Use
Office B
$256.8K
$224.7K – $299.6K
NOI $17,978 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$342.4K
$299.6K – $399.5K
NOI $23,970 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 32233, FL
23,980
Population
11,215
Households
2.1
Avg Household Size
41
Median Age
43%
College-Educated
94%
High-School Grad
10.2 sq mi
ZIP Area
2,351
Density / Sq Mi
$81,586
Median Household Income
$44,067
Median Earnings
$1,541
Median Rent
$396,100
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 - Commercial office condo investment opportunity, fully occupied until 2029.
Where is this office units located?
The property is located at 505-13453 N Main St Jacksonville, FL.
What is the asking price?
The asking price for this property is $278,000.
What are key features of this property?
This property features: Prime commercial office condo: **Excellent investment opportunity**.; Located on prestigious North Main Street.; Competitive 7% cap rate.
