Commercial Land with Office
For Sale
$649,000
5070 Elinor Rd, Jacksonville, FL 32257
IBP-zoned site includes an existing office building and two additional structures.
Property Size2,202 SF
Price / SF$294.73
Days on Market302
Property Features for 5070 Elinor Rd
General Information
Standard status
Active
Size
2,202 SF
Property subtype
Commercial
Building Details
Year Built
1958
Listing Agency:
CHRISTIE'S INTERNATIONAL REAL ESTATE FIRST COAST
(904) 372-4711
Listed By:
TAREQ ARSALLA · License #3204136
Source:
Jacksonvilleflhomeguide
Added: Nov 1, 2025
Changed: Aug 27
Last Checked: Aug 28 at 12:19PM
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 land parcel includes an office building constructed in 1958, along with two additional structures and on-site parking. The property is being sold as-is, with the existing improvements contributing to its current commercial configuration.
Located in South Jacksonville near Philips Highway, Sunbeam Road, and Old Kings Road S., the site offers access to several established roadways. IBP zoning identifies the property as an Industrial Business Park site, supporting its commercial land classification and potential for future improvement or redevelopment.
Located in South Jacksonville near Philips Highway, Sunbeam Road, and Old Kings Road S., the site offers access to several established roadways. IBP zoning identifies the property as an Industrial Business Park site, supporting its commercial land classification and potential for future improvement or redevelopment.
Key Highlights
- 0.94‑acre commercial land parcel
- IBP zoning designation
- Office building constructed in 1958
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
—
—
no second resolved use
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
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?
Commercial land - IBP-zoned site includes an existing office building and two additional structures.
Where is this commercial land located?
The property is located at 5070 Elinor Rd 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 commercial land parcel; IBP zoning designation; Office building constructed in 1958
