Two-Story Office
New
For Sale
$799,000
9218 CYPRESS GREEN Dr, Jacksonville, FL 32256
The layout combines perimeter offices, a conference room, reception, and a kitchen/break room.
Property Size3,217 SF
Days on Market3
Property Features for 9218 CYPRESS GREEN Dr
General Information
Standard status
Active
Size
3,217 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,387
Building Details
Building Size
3,217 SF
Year Built
1982
Listing Agency:
Kinkade Commercial Real Estate
Listed By:
AMANDA CARR KINKADE
(904) 635-6376
Source:
Elliman
Added: Sep 29
Last Checked: Oct 1 at 12:52PM
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 Kinkade Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,217+/- SF office building, constructed in 1982, has work areas on two floors. The first floor features perimeter offices with natural light, alongside a large reception area, a conference room, a kitchen/break room, and restrooms. The second floor provides additional office space.
Updates completed in 2016 included new electrical and plumbing, window film throughout, and HVAC system updates. The property also has a private parking lot with two universal electric vehicle charging stations.
Updates completed in 2016 included new electrical and plumbing, window film throughout, and HVAC system updates. The property also has a private parking lot with two universal electric vehicle charging stations.
Key Highlights
- 3,217+/- SF of office space across two floors
- First‑floor perimeter offices receive natural light; additional office area is on the second floor
- Reception area, conference room, kitchen/break room, and restrooms
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
$45,051
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
5.64%
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%
$901,020
$901.0K
Cap Rate 7%
$643,586
$643.6K
Cap Rate 9%
$500,567
$500.6K
Market Conditions
NOI Build-Up for 3,217 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
$77.2K $24.00/SF
− Vacancy
−$17.1K −$5.33/SF
EGI
$60.1K $18.67/SF
− OpEx
−$15.0K −$4.67/SF
NOI
$45.1K $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%
$901,020
Cap Rate 7%
$643,586
Cap Rate 9%
$500,567
Alternative Uses
Best Use
Office B
$643.6K
$563.1K – $750.9K
NOI $45,051 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$858.1K
$750.9K – $1.00M
NOI $60,068 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,264
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 building - The layout combines perimeter offices, a conference room, reception, and a kitchen/break room.
Where is this office building located?
The property is located at 9218 CYPRESS GREEN Dr Jacksonville, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 3,217+/- SF of office space across two floors; First‑floor perimeter offices receive natural light; additional office area is on the second floor; Reception area, conference room, kitchen/break room, and restrooms
