Residential Unit Near St.
For Sale
$189,000
10550 BAYMEADOWS Road 610, Jacksonville, FL 32256
Well-maintained 3/2 unit in gated community with amenities.
Property Size1,408 SF
Lot Size0.01 Acres
Price / SF$134.23
Days on Market642
Property Features for 10550 BAYMEADOWS Road 610
General Information
Standard status
Active
Size
1,408 SF
Lot size
0.01 Acres
Property subtype
Condo/Townhome
Taxes and HOA fees
Annual Taxes
$3,116
Building Details
Year Built
2000
Listing Agency:
ATLANTIC SHORES REALTY OF JACKSONVILLE LLC
(904) 219-6258
Listed By:
LI HONG · License #3015491
(904) 219-6258
Source:
Exitrealty
Added: Nov 9, 2024
Changed: Aug 8
Last Checked: Aug 12 at 5:37AM
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 ATLANTIC SHORES REALTY OF JACKSONVILLE LLC
Investment Insights
Based on property information with market context.
This well-maintained residential unit features a 3-bedroom, 2-bathroom layout. Located within the gated community of The Overlook, the property is situated in close proximity to St. Johns Town Center, the University of North Florida (UNF), beaches, and downtown Jacksonville. The community provides a range of amenities, including an in-ground pool, clubhouse, fitness center, car wash station, vacuuming area, and grills with picnic tables. The condo fees cover water, sewer, trash, and all exterior maintenance. The property size is 1408 square feet.
Key Highlights
- Largest unit plan in a well‑maintained, gated community.
- Abundance of amenities: enjoy the in‑ground pool, clubhouse, fitness center, car wash station, vacuuming area, and grills with picnic tables.
- Convenient location: close to St. Johns Town Center, UNF, Beaches, and Downtown.
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
$12,181
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
6.44%
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%
$243,620
$243.6K
Cap Rate 7%
$174,014
$174.0K
Cap Rate 9%
$135,344
$135.3K
Market Conditions
NOI Build-Up for 1,408 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
$24.5K $17.40/SF
− Vacancy
−$2.4K −$1.67/SF
EGI
$22.1K $15.73/SF
− OpEx
−$10.0K −$7.08/SF
NOI
$12.2K $8.65/SF
Area
ZIP 32256
Vacancy
9.60%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
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%
$243,620
Cap Rate 7%
$174,014
Cap Rate 9%
$135,344
Alternative Uses
Best Use
Apartment 5plus
$174.0K
$152.3K – $203.0K
NOI $12,181 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$375.6K
$328.6K – $438.2K
NOI $26,290 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
514
Businesses Nearby
Explore this area
Business Placement
Demographics for 32256, FL
53,611
Population
27,735
Households
1.9
Avg Household Size
37
Median Age
53%
College-Educated
97%
High-School Grad
61.4 sq mi
ZIP Area
873
Density / Sq Mi
$73,203
Median Household Income
$47,360
Median Earnings
$1,586
Median Rent
$360,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Well-maintained 3/2 unit in gated community with amenities.
Where is this residential income property located?
The property is located at 10550 BAYMEADOWS Road 610 Jacksonville, FL.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Largest unit plan in a well‑maintained, gated community.; Abundance of amenities: enjoy the in‑ground pool, clubhouse, fitness center, car wash station, vacuuming area, and grills with picnic tables.; Convenient location: close to St. Johns Town Center, UNF, Beaches, and Downtown.
