High-Visibility Corner Commercial
For Sale
$215,000
1201 Cassat Ave, Jacksonville, FL 32205
Freestanding 1,375 SF building in Murray Hill.
Property Size1,375 SF
Price / SF$156.36
Days on Market208
Property Features for 1201 Cassat Ave
General Information
Standard status
Active
Size
1,375 SF
Taxes and HOA fees
Annual Taxes
$2,782
Listing Agency:
MOMENTUM REALTY
(904) 504-3794
Listed By:
NATHANIEL WATSON · License #3277165
(904) 504-3794
Source:
Exprealty
Added: Feb 3
Changed: Aug 25
Last Checked: Aug 29 at 4:11PM
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 MOMENTUM REALTY
Investment Insights
Based on property information with market context.
This freestanding corner property, positioned directly in front of heavy daily traffic, offers brand visibility and flexible use potential for owner-users, investors, or redevelopment. Located in the heart of Murray Hill, the area is known for its historic charm, thriving local businesses, craft breweries, unique restaurants, and a strong sense of community among families, artists, and entrepreneurs. The 1,375 SF building is ready for immediate occupancy and features a reception area, flexible offices/rooms, one restroom, and a staff kitchenette. Strong natural light and durable flooring are present throughout. Dedicated front parking provides easy access. The roof was replaced in 2019. The property has immediate access to I-10, I-95, US-17, and Roosevelt Blvd. CO Zoning supports a wide range of professional and business uses, including professional or business offices, medical, dental, or chiropractic offices, cosmetology or wellness-oriented uses, and other compatible office or service concepts. The property benefits from close proximity to major medical facilities, including Ascension St. Vincent’s Riverside, Baptist Medical Center Jacksonville, Wolfson Children’s Hospital, UF Health Jacksonville, and HCA Florida Memorial Hospital. It is just minutes from Jacksonville’s Downtown and Riverside districts, combining neighborhood character with urban accessibility.
Key Highlights
- High‑visibility corner location on Cassat Ave with strong daily traffic counts
- CO Zoning supports a wide range of professional and business uses
- 1,375 SF freestanding building ready for immediate occupancy
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
$19,775
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
9.20%
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%
$395,500
$395.5K
Cap Rate 7%
$282,500
$282.5K
Cap Rate 9%
$219,722
$219.7K
Market Conditions
NOI Build-Up for 1,375 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
$33.0K $24.00/SF
− Vacancy
−$6.6K −$4.82/SF
EGI
$26.4K $19.18/SF
− OpEx
−$6.6K −$4.79/SF
NOI
$19.8K $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%
$395,500
Cap Rate 7%
$282,500
Cap Rate 9%
$219,722
Alternative Uses
Best Use
Office B
$282.5K
$247.2K – $329.6K
NOI $19,775 @ 7.0% cap · market cap 9.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.7K
$329.6K – $439.5K
NOI $26,367 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Explore this area
Business Placement
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
Median Home Value
Market
Vacancy Rate% for Office in Jacksonville, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Freestanding 1,375 SF building in Murray Hill.
Where is this office units located?
The property is located at 1201 Cassat Ave Jacksonville, FL.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: High‑visibility corner location on Cassat Ave with strong daily traffic counts; CO Zoning supports a wide range of professional and business uses; 1,375 SF freestanding building ready for immediate occupancy
