Office Condo with Private
New
For Sale
$349,900
9471 BAYMEADOWS Rd 403, Jacksonville, FL 32218
A reception area and conference room complement a flexible private-office layout.
Property Size1,200 SF
Price / SF$291.58
Days on Market6
Property Features for 9471 BAYMEADOWS Rd 403
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
HOA Fee
$514
Office Units
1
Taxes and HOA fees
Annual Taxes
$3,800
Building Details
Building Size
1,200 SF
Year Built
1984
Listing Agency:
Kinkade Commercial Real Estate
Listed By:
AMANDA CARR KINKADE
(904) 635-6376
Source:
Elliman
Added: Sep 29
Changed: Oct 3
Last Checked: Oct 2 at 10:24PM
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 1,200 +/- SF office condominium includes a reception area, a conference room, and 4-5 private offices. Built in 1984, it is part of Baymeadows Place Office Park, where maintained landscaping surrounds the buildings.
The unit sits toward the rear of the office park, with access to the main entrance and Baymeadows Road. I-95 is nearby, and the property is located in Jacksonville.
The unit sits toward the rear of the office park, with access to the main entrance and Baymeadows Road. I-95 is nearby, and the property is located in Jacksonville.
Key Highlights
- Approximately 1,200 +/- SF of office space
- Layout includes a reception area and conference room
- 4‑5 private offices
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
$16,805
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
4.80%
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%
$336,100
$336.1K
Cap Rate 7%
$240,071
$240.1K
Cap Rate 9%
$186,722
$186.7K
Market Conditions
NOI Build-Up for 1,200 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
$28.8K $24.00/SF
− Vacancy
−$6.4K −$5.33/SF
EGI
$22.4K $18.67/SF
− OpEx
−$5.6K −$4.67/SF
NOI
$16.8K $14.00/SF
Area
ZIP 32218
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%
$336,100
Cap Rate 7%
$240,071
Cap Rate 9%
$186,722
Alternative Uses
Best Use
Office B
$240.1K
$210.1K – $280.1K
NOI $16,805 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$320.1K
$280.1K – $373.4K
NOI $22,406 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,502
Businesses Nearby
Explore this area
Business Placement
Demographics for 32218, FL
67,040
Population
27,895
Households
2.4
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
96.7 sq mi
ZIP Area
693
Density / Sq Mi
$68,363
Median Household Income
$37,322
Median Earnings
$1,416
Median Rent
$260,300
Median Home Value
Check the figures for this property
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 units - A reception area and conference room complement a flexible private-office layout.
Where is this office units located?
The property is located at 9471 BAYMEADOWS Rd 403 Jacksonville, FL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Approximately 1,200 +/- SF of office space; Layout includes a reception area and conference room; 4‑5 private offices
