Jacksonville Commercial Property For
For Sale
Contact for pricing
Pending
1151 N Main St, Jacksonville, FL 32206
2,127 SF commercial property in Springfield Historic District.
Property Size2,127 SF
Days on Market167
Property Features for 1151 N Main St
General Information
Standard status
Pending
Size
2,127 SF
Property subtype
Mixed Use, Retail, Special Purpose
Building Details
Year Built
1964
Buildings
1
Listing Agency:
Exchange Place Brokerage
(407) 810-0468
Listed By:
Sharon Williams · License #FL 3401687
Source:
Crexi
Added: Mar 5
Changed: Aug 8
Last Checked: Jul 24 at 6:08PM
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 Exchange Place Brokerage
Investment Insights
Based on property information with market context.
Located at 1151 N Main St in Jacksonville's Springfield Historic District, this 2,127 SF commercial property presents a redevelopment or repositioning opportunity. Constructed in 1964, the property is situated on a visible corridor with high traffic and accessibility. The site was previously used as a gas station and later as a car lot. The property is enrolled in Florida’s Petroleum Cleanup Program.
Key Highlights
- Prime redevelopment opportunity in Jacksonville's desirable Springfield Historic District.
- High‑visibility location on N Main St with strong traffic counts and excellent accessibility.
- 2,127 SF commercial property.
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
$24,040
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
4.37%
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%
$480,800
$480.8K
Cap Rate 7%
$343,429
$343.4K
Cap Rate 9%
$267,111
$267.1K
Market Conditions
NOI Build-Up for 2,127 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
$38.3K $18.00/SF
− Vacancy
−$3.9K −$1.85/SF
EGI
$34.3K $16.15/SF
− OpEx
−$10.3K −$4.84/SF
NOI
$24.0K $11.30/SF
Area
Jacksonville, FL
Vacancy
10.30%
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%
$480,800
Cap Rate 7%
$343,429
Cap Rate 9%
$267,111
Alternative Uses
Best Use
Retail
$343.4K
$300.5K – $400.7K
NOI $24,040 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$582.7K
$509.8K – $679.8K
NOI $40,787 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,764
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 34%
Groceries 22%
McDonald's
Dining
21,200 visits/mo
0.3 miles
7-Eleven
Shops & Services
14,337 visits/mo
0.4 miles
Harveys Supermarket
Groceries
14,075 visits/mo
0.4 miles
Shell
Shops & Services
9,189 visits/mo
0.4 miles
Community First Credit Union
Shops & Services
2,851 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - 2,127 SF commercial property in Springfield Historic District.
Where is this retail property located?
The property is located at 1151 N Main St Jacksonville, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Prime redevelopment opportunity in Jacksonville's desirable Springfield Historic District.; High‑visibility location on N Main St with strong traffic counts and excellent accessibility.; 2,127 SF commercial property.
