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Lakeside Plaza 8665 Baypine Rd

47,103 SF 6% Leased Office Building Jacksonville, FL 32256 $4,500,000 ($96/SF)

Investment Highlights

  • Prime Owner/User Opportunity: Benefit from occupying part of the property while generating a steady income from existing stable tenants.
  • Professional Setting: Tenants enjoy a professional, park-like setting in the thriving Butler/Baymeadows submarket, tapping into a robust labor pool.
  • Excellent Connectivity: Near-direct access to US Highway 1 and Interstate 95, with smooth connectivity to Interstate 295 less than 4 miles away.
  • Recent Renovations: Significant updates in 2023 include a new roof and a resurfaced parking lot, ensuring a modern and well-maintained environment.
  • Strategic Location: Deerwood Center Office Park enjoys access to upscale neighborhoods, a robust labor pool, national retailers, and restaurants.
  • Investment Potential: The Jacksonville MSA benefits from significant population and employment growth, making it a strong investment opportunity.

Executive Summary

8665 Baypine Road is a meticulously maintained, turnkey property in Jacksonville's desirable Butler/Baymeadows office submarket. This three-story building features several recent upgrades, including a new roof and a resealed and restriped parking lot. The property encompasses 50,225 total square feet, with 60% of the rental square feet currently occupied, providing a steady cash flow for the owner while offering the opportunity to occupy additional space. The potential exists to increase occupancy and rental rates to align with the submarket average.
 
Inside, the property boasts a beautifully designed lobby with interior landscaping, creating a fresh, rejuvenating environment for tenants. Ample parking is available. The serene exterior green spaces enhance the appeal, providing a pleasant work environment.
 
Part of Lakeside Plaza, 8665 Baypine Road, benefits from proximity to upscale residential neighborhoods, national retailers, and various restaurants and amenities. Jacksonville has been recognized as one of the Urban Land Institute's supernova cities since 2021, encountering some of the nation's highest net population growth rates. The property is within a dense trade area with a population of 191,845 and an average household income of $93,565 within a five-mile radius. Seamless access to US Highway 1, Interstate 95 (less than 1 mile away), and Interstate 295 (less than 4 miles away) makes this property a strategically positioned investment opportunity.

Offering Memorandum Click Here to Access

Data Room Click Here to Access

Property Facts

Sale Type
Investment or Owner User
Property Type
Office
Building Size
47,103 SF
Building Class
B
Year Built/Renovated
1988/2019
Price
$4,500,000
Price Per SF
$96
Percent Leased
6%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
15,701 SF
Building FAR
0.20
Land Acres
5.37 AC
Zoning
IBP - Industrial Business Park
Parking
300 Spaces (6.37 Spaces per 1,000 SF Leased)

Amenities

  • Restaurant

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste 110
  • 2,962 SF
  • Office
  • Full Build-Out
  • 30 Days
  • 2nd Fl-Ste 215
  • 1,678 SF
  • Office
  • Full Build-Out
  • Now
  • 2nd Fl-Ste 230
  • 7,215 SF
  • Office
  • Full Build-Out
  • Now

7,200 square feet of fully built-out office space is available at Lakeside Plaza, contiguous with suite 220, offering 9,397 square feet of total space.

  • 3rd Fl-Ste 300
  • 10,112-17,129 SF
  • Office
  • Full Build-Out
  • Now

10,112 square feet of fully built-out office space is available at Lakeside Plaza.

Space Size Space Use Condition Available
1st Fl-Ste 110 2,962 SF Office Full Build-Out 30 Days
2nd Fl-Ste 215 1,678 SF Office Full Build-Out Now
2nd Fl-Ste 230 7,215 SF Office Full Build-Out Now
3rd Fl-Ste 300 10,112-17,129 SF Office Full Build-Out Now

1st Fl-Ste 110

Size
2,962 SF
Space Use
Office
Condition
Full Build-Out
Available
30 Days

2nd Fl-Ste 215

Size
1,678 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Fl-Ste 230

Size
7,215 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

3rd Fl-Ste 300

Size
10,112-17,129 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Fl-Ste 215

Size 1,678 SF
Space Use Office
Condition Full Build-Out
Available Now

2nd Fl-Ste 230

Size 7,215 SF
Space Use Office
Condition Full Build-Out
Available Now

7,200 square feet of fully built-out office space is available at Lakeside Plaza, contiguous with suite 220, offering 9,397 square feet of total space.

3rd Fl-Ste 300

Size 10,112-17,129 SF
Space Use Office
Condition Full Build-Out
Available Now

10,112 square feet of fully built-out office space is available at Lakeside Plaza.

DEMOGRAPHICS

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
1 Mile
3 Mile
5 Mile
2020 Population
1,637
80,367
188,332
2024 Population
2,283
83,889
191,952
Population Growth '20-'24
39.5%
4.4%
1.9%
2020 Households
774
36,251
81,346
2024 Households
1,097
37,874
82,876
Household Growth '20-'24
41.7%
4.5%
1.9%
Average Age
38
38
39
Median Household Income
$68,902
$60,303
$65,170
Daytime Employees
10,084
74,519
143,830
Total Businesses
1,082
7,565
16,064
College Degree + Higher
44%
42%
38%

Nearby Amenities

Restaurants

Pops Cafe Deli $ 11 min walk
Reflection Cafe Cafe $ 15 min walk
KFC - - 19 min walk
India House Indian $$ 19 min walk
Wendy's - - 20 min walk

Retail

AssuredPartners Insurance 3 min walk
Newrez Finance Company 15 min walk
Wawa Convenience Market 18 min walk
U.S. Bank Bank 19 min walk

Hotels

SpringHill Suites
120 rooms
6 min drive
Embassy Suites by Hilton
277 rooms
6 min drive
Four Points by Sheraton
80 rooms
5 min drive
Courtyard
137 rooms
8 min drive
Marriott
255 rooms
9 min drive
Residence Inn
120 rooms
12 min drive

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
152612-0320
Land Assessment
$1,417,815
Improvements Assessment
$3,305,785
Total Assessment
$4,723,600

Sale Advisors

Sale Advisors

(904) 404-4455
Contact
Daniel Burkhardt, SIOR, CCIM, Partner
(904) 404-4455
Contact
Scope of Service Experience
Daniel Burkhardt joined the NAI Hallmark Team in 2012. In 2016, he was promoted to Vice President. Mr. Burkhardt specializes in acquisition and disposition of office and retail properties.

Background & Experience
Daniel Burkhardt is the Senior Vice President of Investment Sales for NAI Hallmark.  Mr. Burkhardt specializes in the acquisition and disposition of commercial real estate investment properties with a primary focus on office, retail, and industrial assets.

Mr. Burkhardt brings over a decade of investment sales experience.  During his career, he has successfully closed over $500 million of office, industrial and retail transactions.  Daniel prides himself on creating deep, long-lasting relationships with his clients that go well beyond the transaction.


Education
Bachelor of Science, Finance - University of Florida Master of Science, Real Estate – University of Florida

Professional Associations & Designations
2018 NAIOP NE FL – PR/Communications Chair 2018 NAIOP NE FL Developing Leader - Treasurer 2017 NAIOP NE FL Developing Leader – Social Chair 2016 NAIOP NE FL Developing Leader – Education Chair 2015 NAIOP NE FL Developing Leader – Charity Chair 2013 – present CCIM Designee 2012 – present ARGUS Certified
(904) 404-4474
Contact
Keith Goldfaden, Co-CEO, Investment Sales
(904) 404-4474
Contact
Keith Goldfaden is co-owner and Managing Partner of NAI Hallmark. In his position, he drives the execution and growth strategies for several lines of the company’s business, including capital markets, investment sales, and asset management.

Mr. Goldfaden brings two decades of experience within the commercial real estate finance, development, and asset management industries. During his career, Mr. Goldfaden has successfully closed over $2 billion of office, industrial, retail, and multi-family capital markets transaction transactions. He specializes in advising local, national, and multi-national clients with their dispositions, acquisitions, and equity/debt financings. Keith prides himself on creating lifelong relationships with his clients and providing strategic advice that goes well beyond the transaction.
  • Listing ID: 32010687

  • Date on Market: 6/4/2024

  • Last Updated:

  • Address: 8665 Baypine Rd, Jacksonville, FL 32256

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