Versatile Commercial Space For
For Sale
$649,000
5070 Elinor Road, Jacksonville, FL 32257
0.94-acre property with flexible zoning and multiple buildings.
Property Size2,202 SF
Days on Market286
Property Features for 5070 Elinor Road
General Information
Standard status
Active
Size
2,202 SF
Property subtype
Commercial
Zoning
Commercial/Residential/Office
Taxes and HOA fees
Annual Taxes
$5,379
Building Details
Building Size
2,202 SF
Year Built
1958
Stories
1
Units
1
Listing Agency:
CHRISTIE'S INTERNATIONAL REAL ESTATE FIRST COAST
(904) 994-8273
Listed By:
TAREQ ARSALLA
(904) 994-8273
Source:
Modernrealtyputnam
Added: Nov 11, 2025
Changed: Aug 23
Last Checked: Aug 22 at 8:54AM
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 CHRISTIE'S INTERNATIONAL REAL ESTATE FIRST COAST
Investment Insights
Based on property information with market context.
This 0.94-acre commercial property is located in South Jacksonville, with high visibility and accessibility off Philips Highway, Sunbeam Road, and Old Kings Road S. Zoned IBP (Industrial Business Park), the property offers potential for various commercial uses. The main building, constructed in 1958, provides approximately 2,200 square feet and is currently used as office space. Two additional structures are present, offering flexibility for future improvements, expansion, or redevelopment. Ample parking is available across the lot. The property is suitable for a contractor's headquarters, light industrial workshop, small business hub, storage facility, or redevelopment project.
Key Highlights
- 0.94‑acre property with IBP zoning, allowing for a wide range of commercial uses.
- Highly visible and accessible location in South Jacksonville, off Philips Highway, Sunbeam Road, and Old Kings Road S.
- Main building (approx. 2,200 sq ft) currently used as office space.
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
$31,669
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
4.88%
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%
$633,380
$633.4K
Cap Rate 7%
$452,414
$452.4K
Cap Rate 9%
$351,878
$351.9K
Market Conditions
NOI Build-Up for 2,202 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
$52.8K $24.00/SF
− Vacancy
−$10.6K −$4.82/SF
EGI
$42.2K $19.18/SF
− OpEx
−$10.6K −$4.79/SF
NOI
$31.7K $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%
$633,380
Cap Rate 7%
$452,414
Cap Rate 9%
$351,878
Alternative Uses
Best Use
Office B
$452.4K
$395.9K – $527.8K
NOI $31,669 @ 7.0% cap · market cap 4.88%
Second Best
Flex RnD
$342.3K
$299.5K – $399.3K
NOI $23,960 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$603.2K
$527.8K – $703.8K
NOI $42,226 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32257, FL
41,439
Population
18,465
Households
2.2
Avg Household Size
40
Median Age
36%
College-Educated
93%
High-School Grad
12.3 sq mi
ZIP Area
3,369
Density / Sq Mi
$75,180
Median Household Income
$45,772
Median Earnings
$1,441
Median Rent
$305,000
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?
Flex space - 0.94-acre property with flexible zoning and multiple buildings.
Where is this flex space located?
The property is located at 5070 Elinor Road Jacksonville, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 0.94‑acre property with IBP zoning, allowing for a wide range of commercial uses.; Highly visible and accessible location in South Jacksonville, off Philips Highway, Sunbeam Road, and Old Kings Road S.; Main building (approx. 2,200 sq ft) currently used as office space.
