Cap Rate Research / Jacksonville
Jacksonville Commercial Real Estate Cap Rates — 2026
Jacksonville trades 25–50 basis points wider than comparable Orlando and Tampa assets. That spread is the single most useful fact for an investor underwriting Northeast Florida: the same tenant, the same lease, and the same building vintage price at a higher going-in yield here than 140 miles south. The four metro-level ranges below are the cap rates we work from across Duval, St. Johns, Clay, and Nassau counties.
Jacksonville Cap Rates by Property Type
Metro-level ranges covering Duval, St. Johns, Clay, and Nassau counties. Every range on this page is metro-wide — we do not publish Jacksonville cap rates broken out by submarket.
| Property Type | Cap Rate Range | What Drives It |
|---|---|---|
| NNN Retail | 5.75% – 7.5% | National credit tenants — Chick-fil-A, AutoZone, O'Reilly Auto Parts, Dollar General, and quick-service restaurants — continue to expand across the metro. Pricing inside the range tracks tenant credit and remaining lease term. |
| Industrial | 5.5% – 6.75% | The strongest-performing sector in the metro. JAXPORT container growth, the CSX and Norfolk Southern intermodal networks, and the I-95/I-10 intersection anchor distribution demand along Imeson, the Westside, and the I-295 beltway. |
| Multifamily | 5.0% – 6.0% | The tightest-pricing asset class in Jacksonville. Demand is led by St. Johns County / Nocatee growth, urban infill in Riverside/Avondale, and downtown adaptive reuse tied to the riverfront investment cycle. |
| Office | 7.5% – 9.5% | The widest range in the metro. Demand concentrates in downtown Jacksonville, the Southside / St. Johns Town Center corridor, and Deerwood / Baymeadows. Class A rents run meaningfully below Orlando and Tampa. |
Cap rate ranges are directional estimates at the Jacksonville metro level, based on Northeast Florida transactional data, and are updated quarterly. MaxLife Commercial does not publish submarket-level Jacksonville cap rate data — the ranges above apply metro-wide. For deal-specific pricing, contact MaxLife Commercial for a current valuation.
Why Jacksonville Prices Wider Than Orlando and Tampa
The spread is a secondary-market discount, not a fundamentals discount. Jacksonville is a metro of roughly 1.7 million with a consolidated city-county government, anchored by financial services, logistics, healthcare, and military activity. Fidelity National Financial, FIS, CSX, and Southeastern Grocers are headquartered here; Florida Blue, Bank of America, Deutsche Bank, and Wells Fargo run major regional operations. Mayo Clinic Jacksonville, Baptist Health, and UF Health anchor healthcare employment. Three Navy installations — NAS Jacksonville, NS Mayport, and Kings Bay just across the Georgia line — provide an employment floor that most secondary markets do not have.
What Jacksonville lacks is the depth of institutional bidding that compresses Orlando and Tampa pricing. Fewer buyers competing on the same asset means a wider clearing yield. For an investor who does not need daily liquidity, that is a structural advantage: the same Florida demographic and tax exposure, bought at a higher yield.
The spread is compressing. Institutional capital is increasingly recognizing JAXPORT's logistics fundamentals, St. Johns County's growth, and the downtown riverfront investment cycle. An investor underwriting a hold today should be careful about assuming the 25–50 bps gap persists to exit — a compressing spread is a tailwind on residual value, but it is not a number to capitalize into a pro forma.
Jacksonville Industrial Cap Rates
Industrial is the strongest-performing sector in the metro and prices at 5.5% – 6.75%. JAXPORT is the largest container port in Florida, and the harbor deepening project unlocked larger container vessels and accelerated demand along the port corridor. Combine that with the CSX and Norfolk Southern intermodal networks and the I-95/I-10 intersection, and Jacksonville is a natural Southeast and mid-Atlantic distribution hub.
Amazon, Wayfair, Dollar Tree, and multiple third-party logistics operators have built major distribution centers in the metro. Vacancy remains tight and new construction continues along Imeson Industrial Park, the Westside, and the I-295 beltway. Tenant credit and remaining lease term drive placement inside the range far more than geography does.
Jacksonville NNN Retail Cap Rates
Single-tenant NNN retail in Jacksonville prices at 5.75% – 7.5%. National credit tenants including Chick-fil-A, AutoZone, O'Reilly Auto Parts, Dollar General, and quick-service restaurant operators continue to expand across the metro, producing a steady pipeline of net lease product.
Multi-tenant and grocery-anchored retail fundamentals are supported by dense, resilient household spending across the Southside, Mandarin, and the Beaches. St. Johns Town Center and Tinseltown anchor regional retail; Jacksonville Beach, Atlantic Beach, and Neptune Beach support tourism-adjacent retail with premium rent profiles. Placement inside the range is a function of tenant credit and lease term, not submarket.
Jacksonville Cap Rate FAQ
What is the average cap rate for commercial real estate in Jacksonville?
There is no single average — cap rates in Jacksonville vary by property type. As of 2026 the metro-level ranges are: NNN retail 5.75% – 7.5%, industrial 5.5% – 6.75%, multifamily 5.0% – 6.0%, and office 7.5% – 9.5%. Multifamily prices tightest and office widest. Across every class, Jacksonville trades 25–50 basis points wider than comparable Orlando and Tampa assets.
Why are Jacksonville cap rates higher than Orlando cap rates?
Jacksonville is a secondary market, and the 25–50 basis point spread reflects a thinner pool of institutional bidders rather than weaker fundamentals. The metro has a 1.7 million population base, Florida's largest container port, four Fortune-listed headquarters, and three Navy installations. Investors get the same Florida demographic and tax exposure at a higher going-in yield.
Which Jacksonville property type has the lowest cap rate?
Multifamily, at 5.0% – 6.0%. Demand is driven by St. Johns County and Nocatee growth, urban infill in Riverside/Avondale, and downtown adaptive reuse tied to the riverfront investment cycle. Industrial follows closely at 5.5% – 6.75% on the strength of JAXPORT and the I-95/I-10 logistics position.
Do you publish Jacksonville cap rates by submarket?
No. The ranges we publish for Jacksonville are metro-level and apply across Duval, St. Johns, Clay, and Nassau counties. We do not hold submarket-level Jacksonville transactional data at the standard we require to publish it, and we would rather say so than print numbers we cannot stand behind. For a submarket-specific or property-specific cap rate opinion, contact MaxLife Commercial directly.
Are Jacksonville cap rates compressing?
The gap between Jacksonville and the larger Florida metros has begun to compress as institutional buyers recognize the region's fundamentals — JAXPORT's logistics position, St. Johns County's population growth, and the downtown riverfront investment cycle. We would not underwrite continued compression into an exit assumption, but it is a plausible tailwind on residual value.
More Jacksonville Research
Jacksonville Office Cap Rates
Jacksonville office cap rates run 7.5%–9.5% in 2026 — the widest local asset class. Submarket demand drivers, the Orlando spread, and what moves pricing.
Jacksonville Multifamily Cap Rates
Jacksonville multifamily cap rates run 5.0%–6.0% in 2026 — the tightest local asset class. St. Johns County growth, urban infill, and the Orlando spread.
Jacksonville Market Overview
JAXPORT, the Southside, the Beaches, and the St. Johns corridor — the full Northeast Florida market report.
Jacksonville CRE Market Guide
A longer-form investor guide to buying commercial property in the Jacksonville metro.
Jacksonville Industrial Space
Warehouse and distribution space for lease across the Imeson, Westside, and I-295 corridors.
Florida Cap Rates by Market
Statewide benchmarks by asset class and market tier — compare Jacksonville against Orlando, Tampa, and South Florida.
Orlando Cap Rates by Submarket
Submarket-level Central Florida cap rates — the market Jacksonville is benchmarked against.
Underwriting a Jacksonville deal?
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