Waterfront Office
For Sale
$899,000
8850 GOODBYS EXECUTIVE Drive, Jacksonville, FL 32217
Three individual units feature private bathrooms, multiple offices, reception areas, and conference rooms.
Property Size4,238 SF
Days on Market146
Property Features for 8850 GOODBYS EXECUTIVE Drive
General Information
Standard status
Active
Size
4,238 SF
Property subtype
Office
Additional Details
Office Units
3
Taxes and HOA fees
Annual Taxes
$9,926
Amenities
private bathroom
kitchenette
multiple offices
reception area
conference room
water views
waterfront
Building Details
Building Size
4,238 SF
Year Built
1987
Listing Agency:
HAMILTON HOUSE REAL ESTATE GROUP, LLC
Listed By:
EMILY LLOYD · License #3362789
(904) 962-6210
Source:
Houseandhavenrealty
Added: May 6
Changed: Sep 19
Last Checked: Sep 26 at 3:03PM
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 HAMILTON HOUSE REAL ESTATE GROUP, LLC
Investment Insights
Based on property information with market context.
This waterfront office property on Goodbys Creek includes three individual office units, each with a private bathroom, multiple offices, a reception area, and a conference room. Two of the units also include kitchenettes. The configuration supports owner-occupancy, investment, or multi-tenant use, as described for the property, while providing distinct spaces for professional operations.
Each unit offers water views, and the property includes on-site parking for tenants and guests. Built in 1987, the office property is located at 8850 Goodbys Executive Drive in Jacksonville, Florida.
Each unit offers water views, and the property includes on-site parking for tenants and guests. Built in 1987, the office property is located at 8850 Goodbys Executive Drive in Jacksonville, Florida.
Key Highlights
- Three individual office units on Goodbys Creek
- Each unit includes a private bathroom, multiple offices, reception area, and conference room
- Two units include kitchenettes
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
$60,951
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
6.78%
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%
$1,219,020
$1.2M
Cap Rate 7%
$870,729
$870.7K
Cap Rate 9%
$677,233
$677.2K
Market Conditions
NOI Build-Up for 4,238 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
$101.7K $24.00/SF
− Vacancy
−$20.4K −$4.82/SF
EGI
$81.3K $19.18/SF
− OpEx
−$20.3K −$4.79/SF
NOI
$61.0K $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%
$1,219,020
Cap Rate 7%
$870,729
Cap Rate 9%
$677,233
Alternative Uses
Best Use
Office B
$870.7K
$761.9K – $1.02M
NOI $60,951 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,268 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Explore this area
Business Placement
Demographics for 32217, FL
20,543
Population
9,632
Households
2.1
Avg Household Size
41
Median Age
39%
College-Educated
94%
High-School Grad
5.4 sq mi
ZIP Area
3,804
Density / Sq Mi
$69,742
Median Household Income
$44,147
Median Earnings
$1,190
Median Rent
$291,300
Median Home Value
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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 units - Three individual units feature private bathrooms, multiple offices, reception areas, and conference rooms.
Where is this office units located?
The property is located at 8850 GOODBYS EXECUTIVE Drive Jacksonville, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three individual office units on Goodbys Creek; Each unit includes a private bathroom, multiple offices, reception area, and conference room; Two units include kitchenettes
