High-Traffic Office Building for
For Sale
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7002 Normandy Blvd, Jacksonville, FL
Office building with high visibility and regional connectivity.
Property Size13,126 SF
Lot Size1.28 Acres
Price / SF$166.84
Days on Market273
Property Features for 7002 Normandy Blvd
General Information
Standard status
Active
Size
13,126 SF
Lot size
1.28 Acres
Property subtype
OFFICE
Properties For Sale
at 7002 Normandy Blvd Contact us- Floor
- Bldg
- Size
- 13,126 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
7002 Normandy Blvd
- 25,000+ daily vehicles on Normandy Boulevard corridor
- Less than 1-minute drive...
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Listing Agency:
Pine Street/RPS, LLC
(904) 728-1085
Listed By:
Mark Wainwright · License #508359
(904) 728-1085
Source:
Moodyscre
Added: Nov 12, 2025
Changed: Aug 8
Last Checked: May 20 at 8:28PM
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, LLC
Investment Insights
Based on property information with market context.
This office building, encompassing 13,126 square feet, is situated on Normandy Boulevard, benefiting from a daily traffic volume exceeding 25,000 vehicles. Its location offers convenient access, being less than a minute's drive from the I-295 interchange, which experiences over 123,500 vehicles daily. The property's positioning at a major westside gateway provides excellent regional connectivity.
Key Highlights
- High traffic location with 25,000+ daily vehicles on Normandy Boulevard.
- Immediate access to I‑295, less than a 1‑minute drive.
- Extremely high I‑295 traffic: 123,500+ daily vehicles.
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
$188,778
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
8.62%
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%
$3,775,560
$3.8M
Cap Rate 7%
$2,696,829
$2.7M
Cap Rate 9%
$2,097,533
$2.1M
Market Conditions
NOI Build-Up for 13,126 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
$315.0K $24.00/SF
− Vacancy
−$63.3K −$4.82/SF
EGI
$251.7K $19.18/SF
− OpEx
−$62.9K −$4.79/SF
NOI
$188.8K $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%
$3,775,560
Cap Rate 7%
$2,696,829
Cap Rate 9%
$2,097,533
Alternative Uses
Best Use
Office B
$2.70M
$2.36M – $3.15M
NOI $188,778 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.60M
$3.15M – $4.20M
NOI $251,704 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
Explore this area
Business Placement
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 building - Office building with high visibility and regional connectivity.
Where is this office building located?
The property is located at 7002 Normandy Blvd Jacksonville, FL.
What is the asking price?
The asking price for this property is $2,190,000.
What are key features of this property?
This property features: High traffic location with 25,000+ daily vehicles on Normandy Boulevard.; Immediate access to I‑295, less than a 1‑minute drive.; Extremely high I‑295 traffic: 123,500+ daily vehicles.
