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    6 Bay St Jacksonville, FL 32202

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    For Lease
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    Historic Office Space, Flexible Lease Options

    Lot size:
    41,600 SF

    Property Features for 6 Bay St

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    41,600 SF
    Class
    B
    Total Rate
    79733.33

    Building Details

    Year Built/Renovated
    1901/2009
    Stories
    6

    Spaces For Lease

    at 6 Bay St, Jacksonville, FL 32202 Contact us
    Unit 6th Floor

    $23 /Mo

    Size
    7,850 SF
    Contact us
    Unit 1st Floor

    $23 /Mo

    Size
    1,400 SF
    Contact us

    We can help!

    Listing Contact
    Jeffrey Frandsen
    Jeffrey Frandsen

    Listing Agency: Newmark Phoenix Realty Group Jacksonville Listing Agent: Jeffrey Frandsen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    The Dyal Upchurch Building, a six-story, Class B office building located at 6 E Bay St in Downtown Jacksonville, Florida, offers exceptional space for businesses of all sizes. Built in 1901 and renovated in 2009, this 41,600 square foot property boasts a prime location with stunning river and skyline views. The building is zoned CCBD and sits on 1.75 acres of land. Multiple tenancy options are available, with spaces ranging from a minimum of 1,400 contiguous square feet to a maximum of 7,850 contiguous square feet. The top floor offers approximately 7,850 square feet of finished space, while first-floor retail space of approximately 1,400 square feet is also available. These spaces feature upgraded finishes and are complemented by aggressive lease packages. Convenient parking options are available, including free 20-minute guest parking at the adjacent Jacksonville Chamber. On-call property management is provided four days a week. This historic building presents a unique opportunity to establish a presence in the vibrant heart of Jacksonville's downtown area. The property's flexible lease options and desirable amenities make it an ideal choice for a variety of businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Catholic Charities Association / Organization Fallen Bay LLC. Construction Company Tatiana P. Rocha, ... Dental Office MY MMJ Doctor Alternative Medicine Practice Budget Container Sales Big Box & Wholesale Store

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.657990426452
    Latitude
    30.325991266761

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    FAQs

    What type of property is this?
    Office property - Historic Office Space, Flexible Lease Options
    Where is this office property located?
    The property is located at 6 Bay St Jacksonville, FL.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    (850) 556-2108 Call to check price and availability
    Request Owner's contact information
    6 Bay St Jacksonville, FL 32202
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    Jacksonville, FL 32202
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6 Bay St Jacksonville, FL 32202
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    Contact for Pricing
    Please call us for current price
    and status of this listing Jeffrey Frandsen
    Jeffrey Frandsen
    Real Estate License ID: 3383621
    (850) 556-2108 (904) 399-5222
    Learn more
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