Professional Office
For Sale
$410,000
603-6100 Greenland Rd, Jacksonville, FL 32258
Single-level suite with private offices, conference space, kitchenette, reception area, and accessible restroom.
Property Size1,096 SF
Price / SF$374.09
Days on Market10
Property Features for 603-6100 Greenland Rd
General Information
Standard status
Active
Size
1,096 SF
Zoning
IL
Additional Details
Furnished
No
Highway Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$4,005
Amenities
reception area
private offices
conference room
kitchenette/break area
accessible restroom
Building Details
Year Built
2017
Listing Agency:
UNITED REAL ESTATE GALLERY
(904) 222-5351
Listed By:
TYRONE JACKSON
(904) 222-5351
Source:
Exprealty
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 31 at 12:24AM
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 UNITED REAL ESTATE GALLERY
Investment Insights
Based on property information with market context.
This single-level office condominium contains 1, 096 heated SF arranged for professional operations. The suite includes a reception area, several private offices, a conference room, kitchenette or break area, and an accessible restroom. Built in 2017, the interior features durable flooring, substantial natural light, and finished materials. Furniture shown in the marketing materials is excluded from the real estate sale, though it may be negotiated separately.
The property is located within Greenland Commerce Center and is zoned IL. Access is provided to I-95 and I-295, with Baptist Medical Center South, Flagler Center, Bartram Park, and Durbin identified in the surrounding area. Zoning, permitted uses, measurements, association information, and other matters related to the intended use are subject to buyer verification.
The property is located within Greenland Commerce Center and is zoned IL. Access is provided to I-95 and I-295, with Baptist Medical Center South, Flagler Center, Bartram Park, and Durbin identified in the surrounding area. Zoning, permitted uses, measurements, association information, and other matters related to the intended use are subject to buyer verification.
Key Highlights
- 1, 096 heated SF professional office condominium
- Single‑level layout with reception area and multiple private offices
- Spacious conference room, kitchenette/break area, and accessible restroom
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
$15,763
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
3.84%
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%
$315,260
$315.3K
Cap Rate 7%
$225,186
$225.2K
Cap Rate 9%
$175,144
$175.1K
Market Conditions
NOI Build-Up for 1,096 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
$26.3K $24.00/SF
− Vacancy
−$5.3K −$4.82/SF
EGI
$21.0K $19.18/SF
− OpEx
−$5.3K −$4.79/SF
NOI
$15.8K $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%
$315,260
Cap Rate 7%
$225,186
Cap Rate 9%
$175,144
Alternative Uses
Best Use
Office B
$225.2K
$197.0K – $262.7K
NOI $15,763 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$300.2K
$262.7K – $350.3K
NOI $21,017 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Explore this area
Business Placement
Demographics for 32258, FL
37,859
Population
16,257
Households
2.3
Avg Household Size
38
Median Age
44%
College-Educated
97%
High-School Grad
17.8 sq mi
ZIP Area
2,127
Density / Sq Mi
$99,764
Median Household Income
$55,736
Median Earnings
$1,849
Median Rent
$347,500
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?
Office units - Single-level suite with private offices, conference space, kitchenette, reception area, and accessible restroom.
Where is this office units located?
The property is located at 603-6100 Greenland Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 1, 096 heated SF professional office condominium; Single‑level layout with reception area and multiple private offices; Spacious conference room, kitchenette/break area, and accessible restroom
