Active

$2,499,000

Features:
  • Bedrooms
  • 0 Bathrooms
  • sq ft
Overview
  • ID: MFRO6414238
  • Bedrooms:
  • Bathrooms: 0
  • Size: sq ft
Property Details
Remarks
One or more photo(s) has been virtually staged. Rare opportunity to acquire a stabilized ±18,510 SF two-building lakefront office/flex investment property located within Jacksonville's highly sought-after Baypine / Deerwood business corridor. Situated on a professionally maintained waterfront campus with abundant parking, mature landscaping, and immediate access to Interstate 95 and Butler Boulevard (JTB), the property consists of a ±13,704 SF main building and a ±4,806 SF ancillary building. Recent ownership capital improvements, strong curb appeal, and a strategic location within one of Jacksonville's premier office submarkets position this asset as a compelling long-term investment opportunity.The property is 100% occupied by a long-term established organization with more than 15 years of occupancy history and a recently exercised renewal option, providing stable in-place cash flow through a Triple-Net (NNN) lease structure with contractual 5% annual rent escalations. The offering presents an attractive 6.59% cap rate based on current income, with projected NOI growth through future rent escalations and additional upside potential from below-market in-place rental rates.PLEASE SEE THE ATTACHED OFFERING MEMORANDUM FOR COMPLETE FINANCIAL INFORMATION, LEASE DETAILS, RENT GROWTH PROJECTIONS, CAPITAL IMPROVEMENTS, AND INVESTMENT HIGHLIGHTS. PLEASE ALSO SEE THE ATTACHED SURVEY ILLUSTRATING THE PROPOSED LOT SPLIT, AS THE SALE OF THE PROPERTY IS SUBJECT TO COMPLETION OF THE LOT SPLIT.
Financial Considerations
Price:
$2,499,000
HOA Fee:
N/A
Tax Amount:
$67081
Price per SqFt:
$134.75
Tax Legal Description:
See "Exhibit A Legal Description"
Exterior Features
Lot Size:
132858
Lot Features:
Central Business District, Curb and Gutters, Landscaped, Retention Pond, Sidewalk, Paved
Waterfront:
Yes
Parking Spaces:
N/A
Parking:
Ground Level, Over 30 Spaces
Roof:
Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
Bathrooms:
0
Heating:
N/A
Cooling:
Central Air
Appliances:
N/A
Furnished:
No
Floor:
Carpet
Levels:
One
Additional Features
Property Sub Type:
Office
Style:
N/A
Year Built:
1994
Construction Type:
Brick
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
East
Pets Allowed:
No
Special Condition:
None
Additional Features:
N/A
Additional Features 2:
N/A
Map
  • Address
    8669 BAYPINE RD
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