Renovated Flex Space
For Sale
Contact for pricing
5317-5329 Fairmont Street, Jacksonville, FL 32207
Multi-unit commercial property combining office frontage, restrooms, and rear warehouse areas with van-height dock loading.
Property Size20,524 SF
Lot Size0.99 Acres
Price / SF$116.94
Days on Market14
Property Features for 5317-5329 Fairmont Street
General Information
Standard status
Active
Size
20,524 SF
Total Parking Spaces
27
Lot size
0.99 Acres
Property subtype
Industrial
Zoning
CCG-2 (Commercial, Duval County)
Occupancy
50%
Lease Type
NNN
Investment Type
Value Add
Additional Details
Asking Price
$2,400,000
Highway Access
Yes
Building Details
Year Built
1973
Year Renovated
2024
Buildings
1
Units
7
Tenancy
Multi
Building Size
20,524 SF
Listing Agency:
Vieweg Real Estate
(651) 353-1266
Listed By:
Cole Babcock · License #IL
Source:
Crexi
Added: Aug 19
Changed: Aug 31
Last Checked: Aug 31 at 9:13AM
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 Vieweg Real Estate
Investment Insights
Based on property information with market context.
This renovated flex property contains 20,524 SF across seven individual units ranging from approximately 2,012 to 3,000 SF. Each unit has a separate entrance, office or showroom frontage, restroom, and rear warehouse area with van-height dock loading. The property is configured for multi-tenant occupancy and includes a condominium structure supporting unit-by-unit ownership or disposition.
Capital improvements include a new roof completed in December 2022 and 2024 interior work consisting of new offices, restrooms, LVP flooring, and LED lighting. The site encompasses approximately 0.99 acres at 5317-5329 Fairmont Street in Jacksonville. It is located just off Beach Blvd between University Blvd and Emerson St, under half a mile from the Hart Bridge Expressway and minutes from I-95, I-295, and Downtown Jacksonville.
The property is zoned CCG-2 (Commercial, Duval County) and was built in 1973.
Capital improvements include a new roof completed in December 2022 and 2024 interior work consisting of new offices, restrooms, LVP flooring, and LED lighting. The site encompasses approximately 0.99 acres at 5317-5329 Fairmont Street in Jacksonville. It is located just off Beach Blvd between University Blvd and Emerson St, under half a mile from the Hart Bridge Expressway and minutes from I-95, I-295, and Downtown Jacksonville.
The property is zoned CCG-2 (Commercial, Duval County) and was built in 1973.
Key Highlights
- 20,524 SF flex/warehouse property on approximately 0.99 acres
- Seven individual units ranging from approximately 2,012–3,000 SF
- Each unit includes an entrance, office/showroom frontage, restroom, and rear warehouse
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
$138,482
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
5.77%
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%
$2,769,640
$2.8M
Cap Rate 7%
$1,978,314
$2.0M
Cap Rate 9%
$1,538,689
$1.5M
Market Conditions
NOI Build-Up for 20,524 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
$172.4K $8.40/SF
− Vacancy
−$9.5K −$0.46/SF
EGI
$162.9K $7.94/SF
− OpEx
−$24.4K −$1.19/SF
NOI
$138.5K $6.75/SF
Area
Jacksonville, FL
Vacancy
5.50%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$2,769,640
Cap Rate 7%
$1,978,314
Cap Rate 9%
$1,538,689
Alternative Uses
Best Use
Office B
$4.22M
$3.69M – $4.92M
NOI $295,176 @ 7.0% cap · market cap 12.30%
Second Best
Flex RnD
$3.19M
$2.79M – $3.72M
NOI $223,322 @ 7.0% cap · market cap 9.31%
Theoretical Best
Office A
$5.62M
$4.92M – $6.56M
NOI $393,568 @ 7.0% cap · market cap 16.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,336
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32207, FL
36,207
Population
18,866
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
11.4 sq mi
ZIP Area
3,176
Density / Sq Mi
$60,875
Median Household Income
$45,478
Median Earnings
$1,139
Median Rent
$254,800
Median Home Value
Market
Vacancy Rate% for Office in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-unit commercial property combining office frontage, restrooms, and rear warehouse areas with van-height dock loading.
Where is this flex space located?
The property is located at 5317-5329 Fairmont Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 20,524 SF flex/warehouse property on approximately 0.99 acres; Seven individual units ranging from approximately 2,012–3,000 SF; Each unit includes an entrance, office/showroom frontage, restroom, and rear warehouse
