Two-Building Grey-Shell Office
New
For Sale
$3,000,000
6851 SOUTHPOINT Pkwy, Jacksonville, FL 32216
Two freestanding office buildings provide adaptable interiors for owner occupancy, separate divisions, or multiple occupants.
Property Size13,086 SF
Lot Size9.14 Acres
Price / SF$229.25
Days on Market2
Property Features for 6851 SOUTHPOINT Pkwy
General Information
Standard status
Active
Size
13,086 SF
Total Parking Spaces
50
Lot size
9.14 Acres
Property subtype
Commercial
Zoning
IBP
Additional Details
Furnished
No
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$48,986
Building Details
Building Size
13,086 SF
Year Built
2009
Buildings
2
Construction
grey-shell
Listing Agency:
Atlantic Partners Realty St Augustine LLC
Listed By:
FRANK PEREZ-ANDREU · License #BK3299624
(904) 501-9896
Source:
Elliman
Added: Sep 15
Last Checked: Sep 15 at 2:14PM
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 Atlantic Partners Realty St Augustine LLC
Investment Insights
Based on property information with market context.
This office property includes two freestanding grey-shell buildings totaling approximately 13,086 SF. Building One contains approximately 5,264 SF, while Building Two provides approximately 7,822 SF. The unfinished interiors allow a purchaser to plan completed spaces around its operational requirements. The buildings can support occupancy by one organization, separate business divisions, multiple occupants, or phased use, subject to applicable approvals.
The property encompasses 9.135 acres and includes 50 paved parking spaces, distributed as 15 spaces at Building One and 35 at Building Two. Additional land remains available for expansion, added parking, new construction, or redevelopment, subject to zoning, permitting, utility capacity, environmental considerations, and governmental approvals. Zoned IBP, the property is near I-95 and J. Turner Butler Boulevard, with access to downtown Jacksonville, the Southside, Jacksonville's Beaches, surrounding residential communities, and major employment centers. Built in 2009, the property is offered as-is.
The property encompasses 9.135 acres and includes 50 paved parking spaces, distributed as 15 spaces at Building One and 35 at Building Two. Additional land remains available for expansion, added parking, new construction, or redevelopment, subject to zoning, permitting, utility capacity, environmental considerations, and governmental approvals. Zoned IBP, the property is near I-95 and J. Turner Butler Boulevard, with access to downtown Jacksonville, the Southside, Jacksonville's Beaches, surrounding residential communities, and major employment centers. Built in 2009, the property is offered as-is.
Key Highlights
- Two freestanding grey‑shell office buildings totaling approximately 13,086 SF
- 9.135‑acre site with room for expansion, additional parking, construction, or redevelopment
- Building One: approximately 5,264 SF with 15 paved parking spaces
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
$188,203
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
6.27%
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%
$3,764,060
$3.8M
Cap Rate 7%
$2,688,614
$2.7M
Cap Rate 9%
$2,091,144
$2.1M
Market Conditions
NOI Build-Up for 13,086 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
$314.1K $24.00/SF
− Vacancy
−$63.1K −$4.82/SF
EGI
$250.9K $19.18/SF
− OpEx
−$62.7K −$4.79/SF
NOI
$188.2K $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%
$3,764,060
Cap Rate 7%
$2,688,614
Cap Rate 9%
$2,091,144
Alternative Uses
Best Use
Office B
$2.69M
$2.35M – $3.14M
NOI $188,203 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.58M
$3.14M – $4.18M
NOI $250,937 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,199
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Office building - Two freestanding office buildings provide adaptable interiors for owner occupancy, separate divisions, or multiple occupants.
Where is this office building located?
The property is located at 6851 SOUTHPOINT Pkwy Jacksonville, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Two freestanding grey‑shell office buildings totaling approximately 13,086 SF; 9.135‑acre site with room for expansion, additional parking, construction, or redevelopment; Building One: approximately 5,264 SF with 15 paved parking spaces
