Retail Center with Two
For Sale
$1,600,000
1131 3RD Street N, Jacksonville Beach, FL 32250
SINGLE_FAMILY - Jacksonville Beach, FL
Property Size4,405 SF
Lot Size0.29 Acres
Price / SF$363.22
Days on Market93
Property Features for 1131 3RD Street N
General Information
Property type
Residential
Property subtype
Retail
Zoning description
Retail
Directions
From Beach Blvd heading East, take left turn on 3rd St and head North until you see the property on the right hand side ( east side) of 3rd St.
Subdivision
211-Jacksonville Beach-NE
Standard status
Active
APN
1745710000
Size
4,405 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12486
Utilities
Utilities
Electricity Available
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1963
Floors in Building
1
Number of units
3
Building materials
Concrete
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY ATLANTIC PARTNERS SOUTHSIDE
(904) 515-2700
Listed By:
DAVID R LANE
(904) 616-2303
Added: May 29
Changed: Jun 23
Last Checked: Aug 29 at 5:06PM
MLS# 2147670
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail center includes two occupied storefront units plus remaining space that is currently vacant. One tenant space totals 1,405 square feet and has a lease term expiring 4/30/30, with stated annual 3% increases. The second space is 1,000 square feet and has a lease term expiring 7/31/28, also with stated annual 3% increases. Each unit is separately served with electric and AC.
The property totals 4,405 square feet and offers 23 parking spots. Access is available from two separate points off 3rd Street, and signage is in place on 3rd Street.
For buyers or operators looking for a manageable retail setup, the combination of in-place leases and available space supports a straightforward occupancy strategy. The separate utilities and AC per unit add operational simplicity, while the parking count and direct street access can support day-to-day tenant activity and customer convenience.
The property totals 4,405 square feet and offers 23 parking spots. Access is available from two separate points off 3rd Street, and signage is in place on 3rd Street.
For buyers or operators looking for a manageable retail setup, the combination of in-place leases and available space supports a straightforward occupancy strategy. The separate utilities and AC per unit add operational simplicity, while the parking count and direct street access can support day-to-day tenant activity and customer convenience.
Key Highlights
- High‑visibility location on the east side of 3rd St in Jacksonville Beach.
- Existing leases with annual 3% increases provide immediate income.
- Significant income potential from currently vacant space.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,785
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,015,700
$1.0M
Cap Rate 7%
$725,500
$725.5K
Cap Rate 9%
$564,278
$564.3K
Market Conditions
NOI Build-Up for 4,405 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$79.3K $18.00/SF
− Vacancy
−$6.7K −$1.53/SF
EGI
$72.6K $16.47/SF
− OpEx
−$21.8K −$4.94/SF
NOI
$50.8K $11.53/SF
Area
Duval County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,015,700
Cap Rate 7%
$725,500
Cap Rate 9%
$564,278
Alternative Uses
Best Use
Retail
$725.5K
$634.8K – $846.4K
NOI $50,785 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,250 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
66k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 28%
Hotels & Casinos 20%
Electronics 3%
Circle K
Shops & Services
10,548 visits/mo
0.2 miles
Mellow Mushroom
Dining
9,084 visits/mo
0.1 miles
Metro Diner
Dining
7,093 visits/mo
0.3 miles
Mobil
Shops & Services
6,950 visits/mo
0.4 miles
Hampton Inn Jacksonville Beach/Oceanfront
Hotels & Casinos
6,352 visits/mo
0.3 miles
Demographics for 32250, FL
30,080
Population
14,935
Households
2
Avg Household Size
43
Median Age
53%
College-Educated
95%
High-School Grad
9.0 sq mi
ZIP Area
3,342
Density / Sq Mi
$111,553
Median Household Income
$55,396
Median Earnings
$1,805
Median Rent
$526,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Beach Plaza Outparcel — 1198 Beach Blvd, Jacksonville Beach, FL 32250
- Holiday Plaza — 1704 3rd St N, Jacksonville Beach, FL 32250
Frequently Asked Questions
What type of property is this?
Shopping center - Small retail center with two leased storefronts, separate electric and AC, plus parking and street access.
Where is this shopping center located?
The property is located at 1131 3RD Street N Jacksonville Beach, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: High‑visibility location on the east side of 3rd St in Jacksonville Beach.; Existing leases with annual 3% increases provide immediate income.; Significant income potential from currently vacant space.
