Building Details

Building Size 2,202 SF

Year Built 1958

Listing Agency: CHRISTIE'S INTERNATIONAL REAL ESTATE FIRST COAST

Listed By: TAREQ ARSALLA · License #SL3204136 Show Phone

Source: Mandymorrowgroup

Added: Nov 13, 2025 Changed: Sep 23 Last Checked: Oct 6 at 12:25AM

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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.

Key Highlights

• 0.94‑acre commercial land parcel
• IBP zoning designation
• Office building constructed in 1958

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,669

Cap Rate

4.88%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

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 (±1% cap)

NOI $42,226 @ 7.0% cap · market cap 6.51%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

CSI Corporate Office Chipman Services Inc General Contractor

Suggested Use

Top Pick Parking Lot & Garage Grocery & Convenience Store Veterinary Clinic Auto Parts Store Food Market (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.5% 2019

15.8% 2020

21% 2021

20.1% 2022

19.8% 2023

21.3% 2024

22.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this commercial land located? What is the asking price? Find similar properties What are key features of this property?

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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 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 commercial land parcel; IBP zoning designation; Office building constructed in 1958