West Jacksonville Medical Office
For Sale
$499,000
949 Lane Avenue South, Jacksonville, FL 32205
Medical office building for sale in West Jacksonville.
Property Size2,046 SF
Days on Market163
Property Features for 949 Lane Avenue South
General Information
Standard status
Active
Size
2,046 SF
Class
B
Property subtype
Medical/Healthcare
Building Details
Building Size
2,046 SF
Year Built
1988
Properties For Sale
at 949 Lane Avenue South Contact us- Size
- 2,046 SF
- Lease Type
- NNN
Medical Office
Listing Agency:
Coldwell Banker Premier Properties
Listed By:
Eric Maimo
(904) 537-6443
Source:
Thebrokerlist
Added: Mar 27
Changed: Sep 4
Last Checked: Sep 1 at 11:04AM
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 Coldwell Banker Premier Properties
Investment Insights
Based on property information with market context.
This West Jacksonville building is available for sale and is located near retail stores and business developments. The property is currently built out for medical use. It can also accommodate traditional, executive, or creative office functions.
Key Highlights
- Outstanding West Jacksonville location.
- Ideally located near retail stores and business developments.
- Currently built out for medical use.
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
$33,145
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
6.64%
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%
$662,900
$662.9K
Cap Rate 7%
$473,500
$473.5K
Cap Rate 9%
$368,278
$368.3K
Market Conditions
NOI Build-Up for 2,046 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
$61.4K $30.00/SF
− Vacancy
−$6.1K −$3.00/SF
EGI
$55.2K $27.00/SF
− OpEx
−$22.1K −$10.80/SF
NOI
$33.1K $16.20/SF
Area
Jacksonville, FL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$662,900
Cap Rate 7%
$473,500
Cap Rate 9%
$368,278
Alternative Uses
Best Use
Healthcare Medical
$473.5K
$414.3K – $552.4K
NOI $33,145 @ 7.0% cap · market cap 6.64%
Second Best
Office B
$420.4K
$367.8K – $490.4K
NOI $29,426 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$560.5K
$490.4K – $653.9K
NOI $39,234 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
Median Home Value
Market
Vacancy Rate% for Office in Jacksonville, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building for sale in West Jacksonville.
Where is this medical office space located?
The property is located at 949 Lane Avenue South Jacksonville, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Outstanding West Jacksonville location.; Ideally located near retail stores and business developments.; Currently built out for medical use.
