Brick Quadplex with
For Sale
Under Contract
$400,000
2622 BOULEVARD, Jacksonville, FL 32206
Residential Income, Jacksonville, FL
Property Size3,594 SF
Lot Size0.11 Acres
Price / SF$111.30
Days on Market36
Property Features for 2622 BOULEVARD
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 7, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 6, Bathroom 1, Bedroom 8, Bedroom 5
Parking
6
Parking features
Off Street, Parking Lot, Assigned
Appliances
Electric Oven, Refrigerator
Subdivision
North Springfield Heights
Directions
North on I-95 from I-10. Exit and head east on 8th St. Left on Boulevard.
Standard status
Active Under Contract
APN
0451910000
Size
3,594 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4165
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Number of units
4
Flooring type
Wood
Building materials
Brick
Listing Agency:
COLDWELL BANKER VANGUARD REALTY · Coldwell Banker Real Estate
(904) 269-7117
Listed By:
TOBIN BOSSOLA · License #3164103
(904) 910-8084
Added: Aug 5
Changed: Sep 2
Last Checked: Sep 9 at 2:06PM
MLS# 2158588
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 3,594-square-foot quadplex contains four occupied residences within an all-brick building. Each unit is entered from an interior lobby, while wood flooring, electric heating, window or wall-unit cooling, electric ovens, and refrigerators serve the residences. The property was built in 1975 and includes off-street parking with assigned spaces. Exterior upkeep is supported by the durable brick construction.
Electrical improvements and a replacement roof were completed in 2020. Public water and public sewer serve the property, and tenants pay their own utilities. The 0.11-acre parcel is located in Jacksonville, Florida, with parking provided on site.
Electrical improvements and a replacement roof were completed in 2020. Public water and public sewer serve the property, and tenants pay their own utilities. The 0.11-acre parcel is located in Jacksonville, Florida, with parking provided on site.
Key Highlights
- Four occupied units in a 3,594‑square‑foot quadplex
- All‑brick construction on a 0.11‑acre parcel
- Electrical upgrades and new roof completed in 2020
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
$33,747
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
8.44%
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%
$674,940
$674.9K
Cap Rate 7%
$482,100
$482.1K
Cap Rate 9%
$374,967
$375.0K
Market Conditions
NOI Build-Up for 3,594 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
$53.0K $14.76/SF
− Vacancy
−$4.8K −$1.35/SF
EGI
$48.2K $13.41/SF
− OpEx
−$14.5K −$4.02/SF
NOI
$33.7K $9.39/SF
Area
Jacksonville, FL
Vacancy
9.12%
Lease Rate
$14.76 /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%
$674,940
Cap Rate 7%
$482,100
Cap Rate 9%
$374,967
Alternative Uses
Best Use
Multifamily LT 5
$482.1K
$421.8K – $562.5K
NOI $33,747 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$379.9K
$332.4K – $443.2K
NOI $26,590 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$984.6K
$861.5K – $1.15M
NOI $68,919 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 32206, FL
18,283
Population
9,415
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
82%
High-School Grad
6.2 sq mi
ZIP Area
2,949
Density / Sq Mi
$37,585
Median Household Income
$34,353
Median Earnings
$866
Median Rent
$153,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied residences offer lobby access, off-street parking, and tenant-paid utilities.
Where is this quadplex located?
The property is located at 2622 BOULEVARD Jacksonville, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four occupied units in a 3,594‑square‑foot quadplex; All‑brick construction on a 0.11‑acre parcel; Electrical upgrades and new roof completed in 2020
