Overview

Description

Free standing office building on excellent, four way traffic light intersection, at the SW corner of Blanding Boulevard and Foxridge Rd. Located in the Jacksonville, FL MSA and the busy Orange Park/Clay County sub-market. 62,500 vehicles pass this location each day. Zoned BA for almost all commercial businesses except industrial.  The building is currently demised for a single user, however it has two electric meters and can easily be demised as a duplex office or retail building.  Favorable Seller financing is availble for qualified buyers.   


Vacancy in the Orange Park/Clay County office submarket is 6.0%. About 81,000 SF is under construction, representing a 2.1% expansion of inventory. In the past 12 months 33 sales have taken place averaging $135/SF.. During this period, 9,300 SF has been delivered and there has been 300 SF of negative absorption. The market cap rate for Orange Park/Clay County is 9.2%, Rents are around $23.00/SF, which is a 4.6% increase from where they were a year ago. In the past three years, rents have increased a cumulative 17.4%.


This property offers full build out in good condition as medical office or a value add opportunity by a conversion to retail use. Remodeling or replace building with a regional or national retail prototype building on this four way lighted intersection.

Documents

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