Shopping Center with On-Site
For Sale
$1,500,000
1131 3RD Street N, Jacksonville Beach, FL 32250
Commercial Sale, Jacksonville Beach, FL
Property Size4,405 SF
Lot Size0.29 Acres
Price / SF$340.52
Days on Market123
Property Features for 1131 3RD Street N
General Information
Property type
Residential
Property subtype
Retail
Zoning description
Retail
Directions
From Beach Blvd heading East, take left turn on 3rd St and head North until you see the property on the right hand side ( east side) of 3rd St.
Subdivision
211-Jacksonville Beach-NE
Standard status
Active
APN
1745710000
Size
4,405 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12486
Utilities
Utilities
Electricity Available
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1963
Floors in Building
1
Number of units
3
Building materials
Concrete
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY ATLANTIC PARTNERS SOUTHSIDE
(904) 515-2700
Listed By:
DAVID R LANE · License #SL3090431
(904) 616-2303
Added: May 29
Changed: Sep 17
Last Checked: Sep 28 at 2:06AM
MLS# 2147670
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 4,405-square-foot shopping center sits on 0.29 acres at 1131 3rd Street N in Jacksonville Beach. Built in 1963 with concrete construction, the property has central heating, central air conditioning, a shingle roof, public water, and electricity available. Each unit is separately metered for electric service and has its own AC system.
The center includes two leased spaces and an additional vacant area. One 1,405-square-foot lease runs through 4/30/30, while a second 1,000-square-foot lease extends through 7/31/28; both leases include 3% annual increases. The property provides 23 parking spaces, two access points from 3rd Street, and existing signage along the street. Its Jacksonville Beach setting supports both retail occupancy and an owner-user configuration.
The center includes two leased spaces and an additional vacant area. One 1,405-square-foot lease runs through 4/30/30, while a second 1,000-square-foot lease extends through 7/31/28; both leases include 3% annual increases. The property provides 23 parking spaces, two access points from 3rd Street, and existing signage along the street. Its Jacksonville Beach setting supports both retail occupancy and an owner-user configuration.
Key Highlights
- 4,405‑square‑foot shopping center on 0.29 acres
- Two leased spaces measuring 1,405 square feet and 1,000 square feet, plus vacant space
- 23 parking spaces and access from 2 separate locations off 3rd Street
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
$50,785
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
3.39%
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%
$1,015,700
$1.0M
Cap Rate 7%
$725,500
$725.5K
Cap Rate 9%
$564,278
$564.3K
Market Conditions
NOI Build-Up for 4,405 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
$79.3K $18.00/SF
− Vacancy
−$6.7K −$1.53/SF
EGI
$72.6K $16.47/SF
− OpEx
−$21.8K −$4.94/SF
NOI
$50.8K $11.53/SF
Area
Duval County, FL
Vacancy
8.50%
Lease Rate
$18.00 /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%
$1,015,700
Cap Rate 7%
$725,500
Cap Rate 9%
$564,278
Alternative Uses
Best Use
Retail
$725.5K
$634.8K – $846.4K
NOI $50,785 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,250 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
66k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 28%
Hotels & Casinos 20%
Electronics 3%
Circle K
Shops & Services
10,548 visits/mo
0.2 miles
Mellow Mushroom
Dining
9,084 visits/mo
0.1 miles
Metro Diner
Dining
7,093 visits/mo
0.3 miles
Mobil
Shops & Services
6,950 visits/mo
0.4 miles
Hampton Inn Jacksonville Beach/Oceanfront
Hotels & Casinos
6,352 visits/mo
0.3 miles
Demographics for 32250, FL
30,080
Population
14,935
Households
2
Avg Household Size
43
Median Age
53%
College-Educated
95%
High-School Grad
9.0 sq mi
ZIP Area
3,342
Density / Sq Mi
$111,553
Median Household Income
$55,396
Median Earnings
$1,805
Median Rent
$526,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- Beach Plaza Outparcel — 1198 Beach Blvd, Jacksonville Beach, FL 32250
- Holiday Plaza — 1704 3rd St N, Jacksonville Beach, FL 32250
Frequently Asked Questions
What type of property is this?
Shopping center - Concrete retail center with separate electric and central air conditioning serving each unit.
Where is this shopping center located?
The property is located at 1131 3RD Street N Jacksonville Beach, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 4,405‑square‑foot shopping center on 0.29 acres; Two leased spaces measuring 1,405 square feet and 1,000 square feet, plus vacant space; 23 parking spaces and access from 2 separate locations off 3rd Street
