Versatile Flex Space
For Sale
Contact for pricing
1044 Cassat Ave, Jacksonville, FL
Adaptable space suitable for retail, office, or flex use.
Property Size3,034 SF
Lot Size0.28 Acres
Price / SF$354.32
Days on Market509
Property Features for 1044 Cassat Ave
General Information
Standard status
Active
Size
3,034 SF
Lot size
0.28 Acres
Property subtype
OFFICE
Properties For Sale
at 1044 Cassat Ave Contact us- Floor
- 1
- Size
- 3,034 SF
- Type
- OFFICE
- Lease Type
- MODIFIED_GROSS
- Availability
- AVAILABLE, Now
- Sublease
- No
1044 Cassat Ave
- Flex Design
- High visibility for business exposure
- Easy accessibility from major...
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Listing Agency:
SVR Commercial
(904) 454-3856
Listed By:
Vasha Carter
(202) 905-8578
Source:
Moodyscre
Added: Apr 23, 2025
Changed: Aug 8
Last Checked: Sep 13 at 10:29AM
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 SVR Commercial
Investment Insights
Based on property information with market context.
This 3,034 square foot property is designed with flexibility in mind, making it suitable for retail, office, or flex use. The property benefits from high visibility, enhancing business exposure. Its central location provides convenient access for businesses, complemented by easy accessibility from major highways. The property is located at 1044 Cassat Ave, Jacksonville, FL.
Key Highlights
- Flex Design suitable for retail, office, or flex use.
- High visibility for business exposure.**
- Easy accessibility from major highways.
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
$43,635
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
4.06%
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%
$872,700
$872.7K
Cap Rate 7%
$623,357
$623.4K
Cap Rate 9%
$484,833
$484.8K
Market Conditions
NOI Build-Up for 3,034 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
$72.8K $24.00/SF
− Vacancy
−$14.6K −$4.82/SF
EGI
$58.2K $19.18/SF
− OpEx
−$14.5K −$4.79/SF
NOI
$43.6K $14.38/SF
Area
Jacksonville, FL
Vacancy
20.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$872,700
Cap Rate 7%
$623,357
Cap Rate 9%
$484,833
Alternative Uses
Best Use
Office B
$623.4K
$545.4K – $727.3K
NOI $43,635 @ 7.0% cap · market cap 4.06%
Second Best
Retail
$489.9K
$428.6K – $571.5K
NOI $34,291 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$831.1K
$727.3K – $969.7K
NOI $58,180 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
865
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Adaptable space suitable for retail, office, or flex use.
Where is this office units located?
The property is located at 1044 Cassat Ave Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Flex Design suitable for retail, office, or flex use.; High visibility for business exposure.**; Easy accessibility from major highways.
