For Sale
$1,500,000

245 Adams StJacksonville, FL 32202

Fully leased creative office, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fully leased, two-story creative office building situated in the heart of Downtown Jacksonville, Florida. The property, located at 245 E Adams Street, boasts 7,440 square feet and is currently 100% occupied by a tenant operating a music education business since May 9, 2023. The building, constructed in 1954, sits on a 5,745 square foot lot and is zoned CCBD. The tenant is on a Net Net Net (NNN) lease with a remaining term of approximately four years, extending to November 9, 2028, with a 5-year renewal option. Annual rent increases of 4% are built into the lease. The asking price is $1,500,000, representing a compelling cap rate of 7.37% and a price per square foot of $201.61. The property includes five dedicated parking spaces in the rear, with ample street parking available due to its convenient location across from a public parking garage. Before and after tenant build-out photos are available. This is an excellent buy-and-hold investment with a stable tenant and significant upside potential. The property offers great exposure and is an ideal addition to any commercial real estate portfolio.

Highlights

  • Fully leased, two-story creative office building in Downtown Jacksonville, FL.
  • 7,440 SF building on a 5,745 SF lot, zoned CCBD.
  • 100% occupied by music education tenant since May 9, 2023, on a NNN lease through November 9, 2028, with a 5-year option.
  • $1,500,000 asking price, 7.37% cap rate, $201.61/SF.
  • Five rear parking spaces plus ample street parking.

Property Details for 245 Adams St

Property type
Office properties, Office space
Square Feet
7,440 SF
Class
C
Year Built
1954
Buildings
1
Stories
2

Location Insight

City
Jacksonville
County
DUVAL
State
Florida
Latitude
30.327005835872
Longitude
-81.654142759478
245 Adams St, Jacksonville, Florida

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245 Adams St
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