Two-Building Grey-Shell Office
New
For Sale
$3,000,000
6851 SOUTHPOINT Parkway, Jacksonville, FL 32216
Commercial Sale, Jacksonville, FL
Property Size13,086 SF
Lot Size9.14 Acres
Price / SF$229.25
Days on Market1
Property Features for 6851 SOUTHPOINT Parkway
General Information
Property type
Residential
Property subtype
Office
Zoning description
Commercial
Parking features
Parking Lot
Lot features
Cleared, Dead End Street, Wooded
Directions
I-95 to Exit 344/JTB East. Exit at Belfort Road and travel north. Turn left onto Southpoint Drive North, then left onto Southpoint Parkway. Property will be on the right at 6851 Southpoint Parkway.
Subdivision
022-Grove Park/Sans Souci
Standard status
Active
APN
1528541910
Size
13,086 SF
Lot size
9.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
48987
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2009
Building materials
Frame
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY ATLANTIC PARTNERS ST. AUGUSTINE
(904) 797-7442
Listed By:
FRANK PEREZ-ANDREU · License #BK3299624
(904) 501-9896
Added: Sep 14
Last Checked: Sep 14 at 8:06PM
MLS# 2164749
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office property comprises two freestanding frame buildings totaling approximately 13,086 square feet. Building One contains approximately 5,264 square feet and Building Two contains approximately 7,822 square feet. Both structures are presented in grey-shell condition, allowing interior planning around the requirements of an incoming occupant or occupants. The improvements were constructed in 2009 and are accompanied by 50 paved parking spaces.
The property is located in Jacksonville’s Southpoint business corridor near I-95 and J. Turner Butler Boulevard. The surrounding business area includes professional offices, healthcare providers, hotels, restaurants, financial institutions, and other business services. IBP zoning, public water, public sewer, and available water service are documented for the property. The offering is made as-is, with any additional construction, expansion, redevelopment, or proposed use subject to applicable approvals and site conditions.
The property is located in Jacksonville’s Southpoint business corridor near I-95 and J. Turner Butler Boulevard. The surrounding business area includes professional offices, healthcare providers, hotels, restaurants, financial institutions, and other business services. IBP zoning, public water, public sewer, and available water service are documented for the property. The offering is made as-is, with any additional construction, expansion, redevelopment, or proposed use subject to applicable approvals and site conditions.
Key Highlights
- Two freestanding office buildings totaling approximately 13,086 SF
- Building One: approximately 5,264 SF with 15 paved parking spaces
- Building Two: approximately 7,822 SF with 35 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
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Office building - IBP zoning and unfinished interiors allow office layouts tailored to user requirements.
Where is this office building located?
The property is located at 6851 SOUTHPOINT Parkway 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 office buildings totaling approximately 13,086 SF; Building One: approximately 5,264 SF with 15 paved parking spaces; Building Two: approximately 7,822 SF with 35 paved parking spaces
