Office Building Off
For Sale
Contact for pricing
7002 Normandy Blvd, Jacksonville, FL 32205
Office building positioned on a high-traffic corridor with access under a minute to the I-295 interchange.
Property Size9,396 SF
Price / SF$233.08
Days on Market309
Property Features for 7002 Normandy Blvd
General Information
Standard status
Active
Size
9,396 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Pine Street/RPS, LLC
(904) 398-1044
Listed By:
Mark Wainwright · License #508359
(904) 728-1085
Source:
Moodyscre
Added: Nov 12, 2025
Changed: Sep 12
Last Checked: Sep 16 at 8:57PM
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 offers an address on the Normandy Boulevard corridor and benefits from exposure to 25,000+ daily vehicles. The property’s commercial frontage area supports everyday visibility for professional users.
Access is highlighted by proximity to the I-295 interchange, with less than a one-minute drive to the connection. I-295 at the Normandy Boulevard intersection is described as one of Jacksonville’s busiest, carrying 123,500+ daily vehicles, supporting strong regional connectivity for businesses that rely on convenient access.
For buyers evaluating a well-connected office asset, this property combines high-traffic corridor presence with immediate interstate access.
Access is highlighted by proximity to the I-295 interchange, with less than a one-minute drive to the connection. I-295 at the Normandy Boulevard intersection is described as one of Jacksonville’s busiest, carrying 123,500+ daily vehicles, supporting strong regional connectivity for businesses that rely on convenient access.
For buyers evaluating a well-connected office asset, this property combines high-traffic corridor presence with immediate interstate access.
Key Highlights
- Office building on the Normandy Boulevard corridor with 25,000+ daily vehicles
- Less than a 1‑minute drive to the I‑295 interchange (123,500+ daily vehicles)
- Located at I‑295 and Normandy Boulevard, one of Jacksonville's busiest intersections
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
$135,133
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
6.17%
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%
$2,702,660
$2.7M
Cap Rate 7%
$1,930,471
$1.9M
Cap Rate 9%
$1,501,478
$1.5M
Market Conditions
NOI Build-Up for 9,396 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
$225.5K $24.00/SF
− Vacancy
−$45.3K −$4.82/SF
EGI
$180.2K $19.18/SF
− OpEx
−$45.0K −$4.79/SF
NOI
$135.1K $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%
$2,702,660
Cap Rate 7%
$1,930,471
Cap Rate 9%
$1,501,478
Alternative Uses
Best Use
Office B
$1.93M
$1.69M – $2.25M
NOI $135,133 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $180,178 @ 7.0% cap · market cap 8.23%
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
566
Businesses Nearby
Explore this area
Business Placement
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
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 - Office building positioned on a high-traffic corridor with access under a minute to the I-295 interchange.
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: Office building on the Normandy Boulevard corridor with 25,000+ daily vehicles; Less than a 1‑minute drive to the I‑295 interchange (123,500+ daily vehicles); Located at I‑295 and Normandy Boulevard, one of Jacksonville's busiest intersections
