6271 St Augustine Rd, Jacksonville, FL 32217

Property Details for 6271 St Augustine Rd

Year built

1963

Lot size

0.69 lot acres

Property type

Office Spaces

Property subtype

Medical Office Space

Description

This exceptional investment opportunity presents a 21,149 square foot medical office building in Jacksonville, Florida, currently leased to UF Health under a Net Net (NN) lease with a corporate guarantee. The property boasts a 6.75% cap rate and a remaining lease term of approximately 3.1 years, extending to December 31, 2027. Built in 1963 and renovated in 2020 (including a new roof), the single-building property sits on a 0.69-acre lot and includes 402 parking spaces. The lease features annual 3% rent bumps, providing consistent income growth. Located at 6271 St Augustine Rd, Jacksonville, FL 32217, the property benefits from a strong demographic profile, including a high average household income within a 3-mile radius and proximity to major hospitals, retail centers, and the University of North Florida. The property's location within a dense retail corridor and its proximity to a large concentration of families makes it an ideal location for a pediatric center. The asking price is $4,402,000, representing a price per square foot of $208.14. The property's Net Operating Income (NOI) is $297,143. This is a 100% occupied, single-tenant property with a long operating history, offering a compelling investment opportunity with significant upside potential. The permitted zoning is commercial.

Location Insight

City

Jacksonville

County

Duval

State

Florida

Longitude

-81.6252

Latitude

30.2571