Flexible Office Condominium
For Sale
$1,100,000
8833 Perimeter Park Boulevard, Jacksonville, FL 32216
Three office condominium suites offer adaptable layouts, natural light, updated building systems, and surface parking for occupants and visitors.
Property Size3,420 SF
Price / SF$321.64
Days on Market52
Property Features for 8833 Perimeter Park Boulevard
General Information
Standard status
Active
Size
3,420 SF
Class
B
Property subtype
Office
Additional Details
Office Units
3
Amenities
natural light
newly installed HVAC
new roof (2025)
accessible main entrance
collaboration zones
landscaping
efficient circulation
low-maintenance exterior
professional curb appeal
flexible floorplans
Building Details
Building Size
3,420 SF
Buildings
1
Listing Agency:
(904) 994-8493
Listed By:
Colin Nicholson III, CCIM
(904) 994-8493
Source:
Svn
Added: Jul 11
Changed: Aug 29
Last Checked: Aug 30 at 2:09PM
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 Colin Nicholson III, CCIM
Investment Insights
Based on property information with market context.
This office condominium offering includes three suites totaling 3,420 square feet, with approximately 1,140 square feet in each suite. Two units are joined into a larger contiguous workspace, while the third is separated by a demising wall. The arrangement supports both combined and individual occupancy, with flexibility for future reconfiguration. Interior features include abundant natural light, collaboration areas, efficient circulation, and an accessible main entry with a defined lobby. Two newly installed HVAC systems serve the property, and the building received a new roof in 2025.
Located at 8833 Perimeter Park Boulevard in Jacksonville, Florida, the property provides generous surface parking for tenants and visitors. The exterior includes professional landscaping and low-maintenance materials, creating a well-maintained office setting. The suites are configured for single- or multi-tenant use within the existing office building.
Located at 8833 Perimeter Park Boulevard in Jacksonville, Florida, the property provides generous surface parking for tenants and visitors. The exterior includes professional landscaping and low-maintenance materials, creating a well-maintained office setting. The suites are configured for single- or multi-tenant use within the existing office building.
Key Highlights
- Three office condominium suites totaling 3,420 square feet
- Approximately 1,140 square feet per suite
- Two suites combined; third suite separated by a demising wall
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
$49,186
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
4.47%
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%
$983,720
$983.7K
Cap Rate 7%
$702,657
$702.7K
Cap Rate 9%
$546,511
$546.5K
Market Conditions
NOI Build-Up for 3,420 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
$82.1K $24.00/SF
− Vacancy
−$16.5K −$4.82/SF
EGI
$65.6K $19.18/SF
− OpEx
−$16.4K −$4.79/SF
NOI
$49.2K $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%
$983,720
Cap Rate 7%
$702,657
Cap Rate 9%
$546,511
Alternative Uses
Best Use
Office B
$702.7K
$614.8K – $819.8K
NOI $49,186 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$936.9K
$819.8K – $1.09M
NOI $65,582 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
959
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
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 units - Three office condominium suites offer adaptable layouts, natural light, updated building systems, and surface parking for occupants and visitors.
Where is this office units located?
The property is located at 8833 Perimeter Park Boulevard Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three office condominium suites totaling 3,420 square feet; Approximately 1,140 square feet per suite; Two suites combined; third suite separated by a demising wall
