701 Riverside Park PlJacksonville, FL 32204

Property Details for 701 Riverside Park Pl

Year built

1980

Construction

CONCRETE

Lot size

0.72 AC

Property size (Sq ft)

43,170 SF

Zone code

PUD

Property type

Office buildings

APN

090278-0000

APU

902780000

Description

This exceptional 32,445-square-foot office building, located at 701 Riverside Park Place in Jacksonville, Florida, presents a unique investment opportunity. The Class B property, built in 1980 and extensively renovated in 2018 and 2020, boasts a prime location within the thriving Riverside/Brooklyn neighborhood, minutes from the city's central business district. The three-story building features a desirable executive office layout and traditional office spaces, making it suitable for a variety of uses. With a 0.72-acre lot and ample parking (3.95 spaces per 1,000 square feet, including covered and surface options), this property offers convenience and accessibility. The building is zoned PUD and sits within a walkable mixed-use environment experiencing ongoing development. The asking price is $6,500,000, translating to $200.34 per square foot. The property is currently owned by Vystar Credit Union and is available for occupancy on November 1, 2024. This owner-user investment opportunity provides a chance to acquire a well-maintained, modern office building in a rapidly growing area of Jacksonville. The property's history includes serving as the headquarters for the Scott McRae Group for many years. This represents a compelling opportunity to acquire a high-quality asset in a dynamic and desirable location. The Duval County property (APN: 090278-0000) offers a blend of classic charm and modern updates, making it an attractive option for businesses seeking a sophisticated and functional workspace.

• CAP approach

  CAP return

  Valuation

  6%

  $7,798,665

  6.5%

  $7,198,768

  7%

  $6,684,570

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,935,992

  Geo Method

  $2,935,992

• Alternative Use

  Use

  Valuation

  Residential

  $8,926,472

  Hospitality

  $8,176,600

  Educational

  $6,802,836

  Medical

  $7,036,796

  Retail

  $10,582,188

Location Insight

City

Jacksonville

County

Duval

State

Florida

Latitude

30.3166

Longitude

-81.6783

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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