Newly Built Four-Unit
For Sale
$750,000
101102201202-7638 Mailes Ct, Jacksonville, FL
2023-built four-unit property with 2-bed, 2-bath units; three are currently leased.
Property Size4,104 SF
Price / SF$182.75
Days on Market168
Property Features for 101102201202-7638 Mailes Ct
General Information
Standard status
Active
Size
4,104 SF
Occupancy
75%
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,416
Building Details
Year Built
2023
Tenancy
Multi
Listing Agency:
KELLER WILLIAMS ST JOHNS
(904) 867-7694
Listed By:
CHRISTINA WELCH · License #3186165
(904) 404-1640
Source:
Exprealty
Added: Mar 24
Changed: Sep 2
Last Checked: Sep 6 at 3:32PM
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 KELLER WILLIAMS ST JOHNS
Investment Insights
Based on property information with market context.
This newly constructed four-unit multifamily property was built in 2023 and is offered turnkey. Each unit provides two bedrooms and two bathrooms with modern finishes. Three of the four units are currently leased, with the remaining unit available for lease-up.
The property offers quick access to I-295 and I-95 and is described as being just minutes from major retail, dining, and daily conveniences. It is also noted as being near major employers including Wayfair and Amazon.
As an income-producing asset, it is positioned for low-maintenance, long-term performance, with a stated projection to exceed a 6% CAP rate once fully stabilized.
The property offers quick access to I-295 and I-95 and is described as being just minutes from major retail, dining, and daily conveniences. It is also noted as being near major employers including Wayfair and Amazon.
As an income-producing asset, it is positioned for low-maintenance, long-term performance, with a stated projection to exceed a 6% CAP rate once fully stabilized.
Key Highlights
- Newly constructed in 2023: four‑unit multifamily property
- Each unit offers 2 bedrooms and 2 bathrooms
- Three of the four units are currently leased, with income available immediately
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
$38,535
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
5.14%
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%
$770,700
$770.7K
Cap Rate 7%
$550,500
$550.5K
Cap Rate 9%
$428,167
$428.2K
Market Conditions
NOI Build-Up for 4,104 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
$60.6K $14.76/SF
− Vacancy
−$5.5K −$1.35/SF
EGI
$55.1K $13.41/SF
− OpEx
−$16.5K −$4.02/SF
NOI
$38.5K $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%
$770,700
Cap Rate 7%
$550,500
Cap Rate 9%
$428,167
Alternative Uses
Best Use
Multifamily LT 5
$550.5K
$481.7K – $642.3K
NOI $38,535 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$433.8K
$379.5K – $506.1K
NOI $30,363 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.12M
$983.7K – $1.31M
NOI $78,698 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - 2023-built four-unit property with 2-bed, 2-bath units; three are currently leased.
Where is this quadplex located?
The property is located at 101102201202-7638 Mailes Ct Jacksonville, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Newly constructed in 2023: four‑unit multifamily property; Each unit offers 2 bedrooms and 2 bathrooms; Three of the four units are currently leased, with income available immediately
