Class B+ Medical Office
For Sale
Contact for pricing
Pending
6820 Southpoint Parkway, Jacksonville, FL 32216
Well-maintained multitenant medical office offering Class B+ space with strong access to major Jacksonville routes.
Property Size20,754 SF
Days on Market64
Property Features for 6820 Southpoint Parkway
General Information
Standard status
Pending
Size
20,754 SF
Class
B
Property subtype
Office
Zoning
IBP
Net Operating Income
$182,203
Additional Details
Highway Access
Yes
Building Details
Year Built
2000
Year Renovated
2021
Tenancy
Multi
Listing Agency:
Pine Street / RPS
(904) 398-1044
Listed By:
Mark Wainwright · License #FL 508359
Source:
Crexi
Added: Jun 10
Changed: Aug 10
Last Checked: Aug 11 at 1:28PM
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 Pine Street / RPS
Investment Insights
Based on property information with market context.
This well-maintained, multitenant medical office building offers over 20,000± SF of Class B+ space. Designed for medical office use, the property is presented as a single asset suitable for an owner/user or an investor seeking a medical office presence.
The building is located in the Butler Corridor and provides convenient access to I-95, JTB, Downtown Jacksonville, and the Beaches. It is positioned approximately one mile from Ascension St. Vincent’s Southside Hospital, supporting everyday patient and staff access.
For tenants and owner/users, the configuration supports medical office occupancy within a dedicated, established environment. For investors, the multitenant setup provides an opportunity to own a centrally located medical office asset in a submarket with direct connectivity to key employment and regional destinations.
The building is located in the Butler Corridor and provides convenient access to I-95, JTB, Downtown Jacksonville, and the Beaches. It is positioned approximately one mile from Ascension St. Vincent’s Southside Hospital, supporting everyday patient and staff access.
For tenants and owner/users, the configuration supports medical office occupancy within a dedicated, established environment. For investors, the multitenant setup provides an opportunity to own a centrally located medical office asset in a submarket with direct connectivity to key employment and regional destinations.
Key Highlights
- Over 20,000± SF of Class B+ medical office space for sale
- Multitenant medical office building built in 2000
- Located in the Butler Corridor with access to I‑95, JTB, Downtown Jacksonville, and the Beaches
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
$298,484
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
8.53%
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%
$5,969,680
$6.0M
Cap Rate 7%
$4,264,057
$4.3M
Cap Rate 9%
$3,316,489
$3.3M
Market Conditions
NOI Build-Up for 20,754 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
$498.1K $24.00/SF
− Vacancy
−$100.1K −$4.82/SF
EGI
$398.0K $19.18/SF
− OpEx
−$99.5K −$4.79/SF
NOI
$298.5K $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%
$5,969,680
Cap Rate 7%
$4,264,057
Cap Rate 9%
$3,316,489
Alternative Uses
Best Use
Healthcare Medical
$4.80M
$4.20M – $5.60M
NOI $336,215 @ 7.0% cap · market cap 9.61%
Second Best
Office B
$4.26M
$3.73M – $4.97M
NOI $298,484 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$5.69M
$4.97M – $6.63M
NOI $397,979 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,642
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32216, FL
42,847
Population
19,796
Households
2.2
Avg Household Size
37
Median Age
32%
College-Educated
92%
High-School Grad
12.7 sq mi
ZIP Area
3,374
Density / Sq Mi
$63,253
Median Household Income
$44,078
Median Earnings
$1,311
Median Rent
$244,800
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?
Medical Office Space - Well-maintained multitenant medical office offering Class B+ space with strong access to major Jacksonville routes.
Where is this medical office space located?
The property is located at 6820 Southpoint Parkway Jacksonville, FL.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Over 20,000± SF of Class B+ medical office space for sale; Multitenant medical office building built in 2000; Located in the Butler Corridor with access to I‑95, JTB, Downtown Jacksonville, and the Beaches
