218 Broad St – Duval Legal Center and Parking Lots – 4,752 SF Office

Prime opportunity to purchase an assemblage of seven parcels located in the heart of downtown Jacksonville, FL. These include a newly renovated two-story office building totaling 4,752 SF of NRA located on a 0.24-acre site at 218 North Broad Street, as well two surface parking lots located at 640 West Monroe Street (0.49-acre site) and W Forsyth St and 113 W Broad St (0.41-acre site). The office was originally built in 1910 and fully renovated in 2017. Located at a signalized intersection with excellent visibility and multiples points of access.

The office building features two-stories of recently renovated 9 private suites/executive suite offices, a conference room, deposition room, kitchen, management office, reception, copy areas, and bathrooms. It is a “turn-key” opportunity for either an investor or end-user with over $68,000 of office FF&E included in price. The office building is operated with a surface parking lot of 13 spaces providing a parking ratio of 2.7 spaces per 1,000 SF. The remaining two lots have a total of approximately 110 parking spaces and operate as surface parking, serving predominantly daily parking for the Duval County Courthouse and downtown office buildings.

The Jacksonville, FL MSA has a diversified economy strengthened by four military bases. The region is known for its industry in advanced transportation, aerospace technology, financial services, and health/life sciences. The Port of Jacksonville, an international trade seaport on the St. Johns River, is a significant economic engine for the region. The port has three marine terminals that handle 8 million tons of cargo each year, including approximately 600, 000 vehicles. It also supports approximately 132, 000 jobs in the region, generating $27 billion in annual economic impact. Jacksonville metro area with a total population of 1, 527, 494 has experienced an annual growth rate of 1.60%, which was higher than the Florida annual growth rate of 1.57%. The metropolitan area accounted for 7.2% of the total Florida population (21, 292, 189). The median household income for the metropolitan area is projected to grow by 4.0% annually, increasing the median household income to $69, 233 by 2023. The average household size is anticipated to grow by 0.08% annually, raising the average household size to 2.54 by 2023.