Busch Office Pavilion Professional Office Par 550 Balmoral Cir 12,600 SF 93% Leased Office Building Jacksonville, FL 32218 $3,556,299 CAD ($282.25 CAD/SF) 7.55% 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 (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$353,325
|
$28.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$353,325
|
$28.04
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,368
|
$7.89
|
| Net Operating Income |
$253,957
|
$20.16
|
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
$3,556,299 CAD
Price Per SF
$282.25 CAD
Cap Rate
7.55%
NOI
$268,518 CAD
Percent Leased
93%
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 203
| Size |
| 370-820 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
1 of 1
PROPERTY TAXES
| Parcel Number | 044279-0700 | Improvements Assessment | $1,995,974 CAD |
| Land Assessment | $356,698 CAD | Total Assessment | $2,352,672 CAD |
