Zoned Industrial Land with Office
For Sale
$649,000
5070 ELINOR Road, Jacksonville, FL 32257
Zoned IBP property includes an office building built in 1958, plus two additional structures on a sizable lot.
Property Size2,200 SF
Lot Size0.94 Acres
Price / SF$295
Days on Market288
Property Features for 5070 ELINOR Road
General Information
Standard status
Active
Size
2,200 SF
Lot size
0.94 Acres
Property subtype
Mixed Use
Zoning
IBP
Taxes and HOA fees
Annual Taxes
$5,379
Amenities
3
Shingle
Building Details
Year Built
1958
Listing Agency:
CHRISTIE'S INTERNATIONAL REAL ESTATE FIRST COAST
(904) 994-8273
Listed By:
TAREQ ARSALLA · License #3204136
(904) 994-8273
Source:
Xome
Added: Oct 29, 2025
Changed: Aug 12
Last Checked: Aug 12 at 3:35AM
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 for-sale property is centered on nearly an acre of land zoned IBP (Industrial Business Park), offered as-is. A main building constructed in 1958 currently provides office space, and the site also includes two additional structures, adding flexibility for future improvements, expansion, or redevelopment.
The property is located in South Jacksonville near Philips Highway, Sunbeam Road, and Old Kings Road S. Ample parking is available across the spacious lot, supporting a variety of on-site uses.
The offering is being sold as-is, with the stated value primarily in the land and location.
The property is located in South Jacksonville near Philips Highway, Sunbeam Road, and Old Kings Road S. Ample parking is available across the spacious lot, supporting a variety of on-site uses.
The offering is being sold as-is, with the stated value primarily in the land and location.
Key Highlights
- 0.94‑acre South Jacksonville property with Commercial/Residential/Office zoning and IBP designation
- Office building built in 1958 with approximately 2,200 SF, currently used as office space
- Includes two additional structures for extra flexibility with office and light commercial uses
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
$31,640
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%
$632,800
$632.8K
Cap Rate 7%
$452,000
$452.0K
Cap Rate 9%
$351,556
$351.6K
Market Conditions
NOI Build-Up for 2,200 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
−$10.5K −$4.79/SF
NOI
$31.6K $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%
$632,800
Cap Rate 7%
$452,000
Cap Rate 9%
$351,556
Alternative Uses
Best Use
Office B
$452.0K
$395.5K – $527.3K
NOI $31,640 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$602.7K
$527.3K – $703.1K
NOI $42,187 @ 7.0% cap · market cap 6.50%
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
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
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Frequently Asked Questions
What type of property is this?
Commercial land - Zoned IBP property includes an office building built in 1958, plus two additional structures on a sizable lot.
Where is this commercial land 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 South Jacksonville property with Commercial/Residential/Office zoning and IBP designation; Office building built in 1958 with approximately 2,200 SF, currently used as office space; Includes two additional structures for extra flexibility with office and light commercial uses
