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    435 Cassat Ave & 450 Ryan Avenue Jacksonville, FL 32254 Jacksonville, FL 32254

    Sponsored
    For Lease
    $12,558 /Mo ($12 SF/Yr)

    12,558 SF, $8.50/SF NNN

    Lot size:
    12,558 SF

    Description

    Added:
    Jan 27, 2025
    Days on Market:
    359
    This exceptional Jacksonville property, encompassing 12,558 square feet, offers a unique blend of industrial and office space. Located at 435 Cassat Ave & 450 Ryan Avenue, Jacksonville, FL 32254, this mixed-use property is ideal for businesses seeking a strategic location with convenient access to major transportation arteries. The property includes approximately 3,806 square feet of dedicated office space, perfectly suited for administrative functions or client meetings. The remaining square footage provides ample space for industrial operations, storage, or manufacturing. The property's strategic location offers easy access to I-10 and Beaver Street, providing convenient access to a wide array of amenities and services. Furthermore, its proximity to Jacksonville International Airport facilitates seamless business travel. This location within key industrial hubs ensures efficient supply chain management, benefiting businesses seeking a prime location in a thriving economic environment. The annual lease rate is $8.50 per square foot, with a triple net (NNN) lease structure. This property presents a compelling opportunity for businesses seeking a versatile and strategically located space in Jacksonville's dynamic industrial market. The total rentable square footage is 12,558 square feet.

    Property Features for 435 Cassat Ave & 450 Ryan Avenue Jacksonville, FL 32254

    General Information

    Property type
    Residential offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,558 SF
    Elevators
    N/A
    Total Rate
    12558

    Building Details

    Year Built
    1961

    We can help!

    Listing Contact
    Mark Wainwright

    Learn more

    HighLights

    • 12,558 square feet available for lease at $8.50 per square foot, yearly rate.
    • Property includes 3,806 square feet of office space.
    • Convenient location near I‑10, Beaver Street, and Jacksonville International Airport.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential offices

    Map

    City
    Jacksonville
    State
    Florida

    FAQs

    What type of property is this?
    Residential office - 12,558 SF, $8.50/SF NNN
    Where is this residential office located?
    The property is located at 435 Cassat Ave & 450 Ryan Avenue Jacksonville, FL 32254 Jacksonville, FL.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: 12,558 square feet available for lease at $8.50 per square foot, yearly rate.; Property includes 3,806 square feet of office space.; Convenient location near I-10, Beaver Street, and Jacksonville International Airport.
    (904) 398-1044
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    435 Cassat Ave & 450 Ryan Avenue Jacksonville, FL 32254 Jacksonville, FL 32254
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    Jacksonville, FL 32254
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    435 Cassat Ave & 450 Ryan Avenue Jacksonville, FL 32254 Jacksonville, FL 32254
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    We can help!
    Listing Contact
    Mark Wainwright
    (904) 398-1044
    Learn more
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