Freestanding Office Building on Corner
For Sale
$215,000
1201 CASSAT Avenue, Jacksonville, FL 32205
COMMERCIAL - Jacksonville, FL
Property Size1,375 SF
Lot Size0.16 Acres
Price / SF$156.36
Days on Market192
Property Features for 1201 CASSAT Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot, Off Street
Fencing
Fenced
Lot features
Cleared, Corner Lot
Directions
From I-10 West, take Exit 360 (Cassat Ave) and head south. Property is on the left at the corner of Cassat Ave and Wiley Rd, near the Murray Hill area. Brick building with parking in front.
Subdivision
051-Murray Hill
Standard status
Active
APN
0663340000
Size
1,375 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2782
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
rear porch
side porch
staff kitchenette
Building Details
Year built
1942
Floors in Building
1
Flooring type
Vinyl, Wood
Roof type
Shingle
Listing Agency:
MOMENTUM REALTY
(904) 903-1558
Listed By:
NATHANIEL WATSON · License #3277165
(904) 504-3794
Added: Feb 3
Changed: Aug 4
Last Checked: Aug 14 at 5:06AM
MLS# 2128328
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.
Freestanding office building on a 0.16-acre corner lot featuring flexible commercial and office zoning. The property includes a classic single-story structure originally built in 1942 with approximately 1,375 square feet of building area, configured with 3 flexible rooms and 1 bathroom.
The interior offers a bright entry with tile flooring and a large front window, with vinyl and wood flooring throughout. A staff kitchenette includes a sink and cabinetry. For comfort, the building has central air cooling and central electric heating. Off-street parking is provided in a parking lot setting, with a fenced perimeter and cable available. Public water and public sewer support the space.
A roof shingle roof was replaced in 2019. Exterior features include a rear porch and side porch for additional usable space for storage, client access, or flexible operations. The property is positioned for convenient access to major transit routes including I-10 and US-17, with additional quick access to I-95 and Roosevelt Boulevard.
The interior offers a bright entry with tile flooring and a large front window, with vinyl and wood flooring throughout. A staff kitchenette includes a sink and cabinetry. For comfort, the building has central air cooling and central electric heating. Off-street parking is provided in a parking lot setting, with a fenced perimeter and cable available. Public water and public sewer support the space.
A roof shingle roof was replaced in 2019. Exterior features include a rear porch and side porch for additional usable space for storage, client access, or flexible operations. The property is positioned for convenient access to major transit routes including I-10 and US-17, with additional quick access to I-95 and Roosevelt Boulevard.
Key Highlights
- 0.16‑acre corner lot with a freestanding, single‑story office building
- Approximately 1,375 SF with 3 flexible rooms and 1 bathroom
- Flexible commercial and office zoning
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
Healthcare Medical
$318.2K
$278.4K – $371.3K
NOI $22,275 @ 7.0% cap · market cap 10.36%
Second Best
Office B
$282.5K
$247.2K – $329.6K
NOI $19,775 @ 7.0% cap · market cap 9.20%
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
Lease Details
3
Office units
Yes
Highway access
Yes
Paved road access
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
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Frequently Asked Questions
What type of property is this?
Office units - Freestanding office building with flexible commercial and office zoning, off-street parking, and central air on a fenced corner lot.
Where is this office units located?
The property is located at 1201 CASSAT Avenue 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: 0.16‑acre corner lot with a freestanding, single‑story office building; Approximately 1,375 SF with 3 flexible rooms and 1 bathroom; Flexible commercial and office zoning
