Updated 3-Unit
New
For Sale
$299,000
101 W 21ST Street, Jacksonville, FL 32206
Interior improvements include new appliances and luxury vinyl flooring across the three-unit property.
Property Size1,821 SF
Price / SF$164.20
Days on Market4
Property Features for 101 W 21ST Street
General Information
Standard status
Active
Size
1,821 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Building Details
Year Built
1919
Listing Agency:
FLORIDA HOMES REALTY & MTG LLC
(904) 996-9115
Listed By:
MARTIN GROBMAN · License #3561732
(786) 606-2053
Source:
Endlesssummerrealty
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of FLORIDA HOMES REALTY & MTG LLC
Investment Insights
Based on property information with market context.
This 1,821-square-foot triplex, built in 1919, contains three units. Recent interior work includes new appliances, luxury vinyl flooring, baseboards, and fresh paint on walls and ceilings.
The property is near major roadways, shopping, dining, and Downtown Jacksonville.
The property is near major roadways, shopping, dining, and Downtown Jacksonville.
Key Highlights
- Three‑unit residential property
- 1,821 square feet; built in 1919
- Interior updates include new appliances, luxury vinyl flooring, baseboards, and fresh paint on walls and ceilings
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
$17,099
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
5.72%
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%
$341,980
$342.0K
Cap Rate 7%
$244,271
$244.3K
Cap Rate 9%
$189,989
$190.0K
Market Conditions
NOI Build-Up for 1,821 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
$26.9K $14.76/SF
− Vacancy
−$2.5K −$1.35/SF
EGI
$24.4K $13.41/SF
− OpEx
−$7.3K −$4.02/SF
NOI
$17.1K $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%
$341,980
Cap Rate 7%
$244,271
Cap Rate 9%
$189,989
Alternative Uses
Best Use
Multifamily LT 5
$244.3K
$213.7K – $285.0K
NOI $17,099 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$192.5K
$168.4K – $224.5K
NOI $13,472 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$498.8K
$436.5K – $582.0K
NOI $34,919 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,390
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Interior improvements include new appliances and luxury vinyl flooring across the three-unit property.
Where is this triplex located?
The property is located at 101 W 21ST Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three‑unit residential property; 1,821 square feet; built in 1919; Interior updates include new appliances, luxury vinyl flooring, baseboards, and fresh paint on walls and ceilings
