Two-Suite Office
For Sale
$690,000
91 Branscomb Road 10, Green Cove Springs, FL 32043
Connected office suites offer flexible professional space with separate entrances and a broad mix of private and shared areas.
Property Size2,491 SF
Price / SF$276
Days on Market186
Property Features for 91 Branscomb Road 10
General Information
Standard status
Active
Size
2,491 SF
Property subtype
Commercial
Additional Details
Office Units
2
Building Details
Year Built
2006
Listing Agency:
KELLER WILLIAMS ST JOHNS
(904) 535-4430
Listed By:
MELISSA CARSON HERMAN · License #3418096
Source:
Jacksonvilleflhomeguide
Added: Feb 25
Changed: Aug 30
Last Checked: Aug 30 at 7:07AM
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 KELLER WILLIAMS ST JOHNS
Investment Insights
Based on property information with market context.
Units 9 and 10 comprise 2,491 square feet of finished office space within a 2006-built property. The adjoining suites have separate entrances and include six offices, two large conference rooms, a reception lobby, administrative area, bathroom, IT/electrical room, kitchen and breakroom, plus an HVAC closet with storage. One office is currently used for storage. The layout could be divided into two individual suites with the addition of another bathroom.
The property fronts a lagoon and has visibility from Henley Road. It is positioned in the Asbury Lake area, north of central Clay County, near the Blanding Boulevard and Henley Road corridors. Orange Park, Jacksonville, Oakleaf Plantation, and Green Cove Springs are also identified as nearby areas, with access connected by the First Coast Expressway.
The property fronts a lagoon and has visibility from Henley Road. It is positioned in the Asbury Lake area, north of central Clay County, near the Blanding Boulevard and Henley Road corridors. Orange Park, Jacksonville, Oakleaf Plantation, and Green Cove Springs are also identified as nearby areas, with access connected by the First Coast Expressway.
Key Highlights
- Units 9 and 10 included in the sale
- 2,491 SF of office space in a 2006‑built property
- Six offices, including one currently used for storage
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
$34,884
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
5.06%
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%
$697,680
$697.7K
Cap Rate 7%
$498,343
$498.3K
Cap Rate 9%
$387,600
$387.6K
Market Conditions
NOI Build-Up for 2,491 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
$59.8K $24.00/SF
− Vacancy
−$13.3K −$5.33/SF
EGI
$46.5K $18.67/SF
− OpEx
−$11.6K −$4.67/SF
NOI
$34.9K $14.00/SF
Area
Clay County, FL
Vacancy
22.20%
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%
$697,680
Cap Rate 7%
$498,343
Cap Rate 9%
$387,600
Alternative Uses
Best Use
Office B
$498.3K
$436.1K – $581.4K
NOI $34,884 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$664.5K
$581.4K – $775.2K
NOI $46,512 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 32043, FL
30,369
Population
13,331
Households
2.3
Avg Household Size
41
Median Age
31%
College-Educated
92%
High-School Grad
229.3 sq mi
ZIP Area
132
Density / Sq Mi
$80,698
Median Household Income
$46,310
Median Earnings
$1,370
Median Rent
$292,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Connected office suites offer flexible professional space with separate entrances and a broad mix of private and shared areas.
Where is this office units located?
The property is located at 91 Branscomb Road 10 Green Cove Springs, FL.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Units 9 and 10 included in the sale; 2,491 SF of office space in a 2006‑built property; Six offices, including one currently used for storage
