Baymeadows East Professional Office
For Sale
Contact for pricing
9191 R G Skinner Pkwy, Jacksonville, FL 32256
3,487 SF office condo in desirable Jacksonville location.
Property Size3,487 SF
Price / SF$257.24
Days on Market165
Property Features for 9191 R G Skinner Pkwy
General Information
Standard status
Active
Size
3,487 SF
Class
B
Property subtype
Office, Retail
Listing Agency:
Florida Homes Realty and Mortgage
Listed By:
Stavros Adonis Mallios · License #FL SL3517036
Source:
Crexi
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:34AM
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 Florida Homes Realty and Mortgage
Investment Insights
Based on property information with market context.
Located in the Baymeadows East Professional Center at 9191 RG Skinner Parkway, this 3,487 square foot office condominium offers modern interior finishes and a flexible office configuration. The combined Suites 803, 804, and 805 provide a spacious and efficient layout suitable for various professional users. The floor plan features multiple private offices, open collaborative work areas, a conference room, reception area, and break space. Two executive suites enhance the property's functionality, including one with a private restroom and kitchenette equipped with a microwave and under counter refrigerator. The unit includes three bathrooms. The space is a turnkey opportunity with professional interior finishes, allowing for immediate occupancy or a seamless lease-up strategy. The property benefits from strong surrounding amenities and dense residential growth in the Southside submarket. Nearby retailers and services include Publix, Winn Dixie, Walgreens, Wells Fargo, Hancock Whitney Bank, and numerous restaurants and service providers. It is also located near UF Health Emergency and Urgent Care Center, Point Meadows, and Reedy Branch Commons. With quick access to Interstate 295 and an approximate 30-minute drive to Jacksonville International Airport, the location offers convenient connectivity. Ample surface parking is available throughout the professional center.
Key Highlights
- Prime location in desirable Baymeadows East Professional Center with excellent connectivity to I‑295 and Baymemeadows Road.
- Turnkey 3,487 sq ft office condominium with modern interior finishes and flexible configuration.
- Includes multiple private offices, collaborative areas, conference room, reception, and break space.
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
$48,832
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
5.44%
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%
$976,640
$976.6K
Cap Rate 7%
$697,600
$697.6K
Cap Rate 9%
$542,578
$542.6K
Market Conditions
NOI Build-Up for 3,487 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
$83.7K $24.00/SF
− Vacancy
−$18.6K −$5.33/SF
EGI
$65.1K $18.67/SF
− OpEx
−$16.3K −$4.67/SF
NOI
$48.8K $14.00/SF
Area
ZIP 32256
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%
$976,640
Cap Rate 7%
$697,600
Cap Rate 9%
$542,578
Alternative Uses
Best Use
Office B
$697.6K
$610.4K – $813.9K
NOI $48,832 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$930.1K
$813.9K – $1.09M
NOI $65,109 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
Explore this area
Business Placement
Demographics for 32256, FL
53,611
Population
27,735
Households
1.9
Avg Household Size
37
Median Age
53%
College-Educated
97%
High-School Grad
61.4 sq mi
ZIP Area
873
Density / Sq Mi
$73,203
Median Household Income
$47,360
Median Earnings
$1,586
Median Rent
$360,200
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 - 3,487 SF office condo in desirable Jacksonville location.
Where is this office units located?
The property is located at 9191 R G Skinner Pkwy Jacksonville, FL.
What is the asking price?
The asking price for this property is $897,000.
What are key features of this property?
This property features: Prime location in desirable Baymeadows East Professional Center with excellent connectivity to I‑295 and Baymemeadows Road.; Turnkey 3,487 sq ft office condominium with modern interior finishes and flexible configuration.; Includes multiple private offices, collaborative areas, conference room, reception, and break space.
