Busch Office Pavilion Professional Office Par | 550 Balmoral Cir
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Busch Office Pavilion Professional Office Par 550 Balmoral Cir
12,600 SF 85% Leased Office Building Jacksonville, FL 32218 $2,480,493 ($197/SF) 7% Cap Rate
Investment Highlights
- Many New 5 YEAR NNN LEASES!
- Thriving North Jacksonville Location!
- PROFESSIONAL OFFICE INVESTMENT WITH TENANTS IN PLACE!
Executive Summary
The Busch Professional Office Pavilion Investment offers a rare opportunity in North Jacksonville's thriving Busch Drive Business Park. This low vacancy office complex features many brand-new 5-year leases across its office suites, ensuring stable and predictable income. Additionally, the property is undergoing a full conversion into office condominiums, further enhancing its long-term value and appeal to investors. This unique offering represents a strategic investment in a high-demand location with significant growth potential.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$247,219
|
$19.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$247,219
|
$19.62
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$69,527
|
$5.52
|
| Net Operating Income |
$177,692
|
$14.10
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $247,219 |
| Annual Per SF | $19.62 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $247,219 |
| Annual Per SF | $19.62 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $69,527 |
| Annual Per SF | $5.52 |
| Net Operating Income | |
|---|---|
| Annual | $177,692 |
| Annual Per SF | $14.10 |
Property Facts
Sale Type
Investment
Sale Condition
Bulk/Portfolio Sale
Property Type
Office
Property Subtype
Building Size
12,600 SF
Building Class
C
Year Built
1988
Price
$2,480,493
Price Per SF
$197
Cap Rate
7%
NOI
$173,634
Percent Leased
85%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
12,600 SF
Building FAR
0.14
Lot Size
2.07 AC
Zoning
CCG-1 - The CCG-1 zoning classification allows for a wide variety of commercial, office and retail uses.
Parking
67 Spaces (5.32 Spaces per 1,000 SF Leased)
Amenities
- Natural Light
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 203 | 370-820 SF | Office | Full Build-Out | Now |
| 1st Fl-Ste 205 | 1,080 SF | Office | Full Build-Out | Now |
1st Fl-Ste 203
| Size |
| 370-820 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 205
| Size |
| 1,080 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
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1st Fl-Ste 203
| Size | 370-820 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
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1st Fl-Ste 205
| Size | 1,080 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
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PROPERTY TAXES
| Parcel Number | 044279-0700 | Improvements Assessment | $1,036,074 (2023) |
| Land Assessment | $180,426 (2023) | Total Assessment | $1,216,500 (2023) |
PROPERTY TAXES
Parcel Number
044279-0700
Land Assessment
$180,426 (2023)
Improvements Assessment
$1,036,074 (2023)
Total Assessment
$1,216,500 (2023)
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STREET VIEW
STREET
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Busch Office Pavilion Professional Office Par | 550 Balmoral Cir
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