Springfield Area Commercial
For Sale
$772,000
2504 N Main Street, Jacksonville, FL 32206
Commercial building in a redeveloping area, suitable for various uses.
Property Size3,468 SF
Lot Size0.42 Acres
Price / SF$222.61
Days on Market160
Property Features for 2504 N Main Street
General Information
Standard status
Active
Size
3,468 SF
Lot size
0.42 Acres
Property subtype
Retail
Building Details
Year Built
1947
Listing Agency:
(904) 806-1218
Listed By:
Henry Hammond
(904) 806-1218
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 8 at 6:04AM
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 Henry Hammond
Investment Insights
Based on property information with market context.
This commercial real estate, situated in a Springfield area location, presents an opportunity for prospective buyers. The property features a commercial building with approximately 3468 square feet of space, positioned on roughly 0.42 acres. Zoned CCG-2, the property is located within the Brentwood Opportunity Zone, an area undergoing redevelopment and preservation, and is situated a few hundred feet north of The Springfield District. The seller currently receives rental income from an ATM and a retail vendor. The property was previously occupied by a florist for 45 years.
Key Highlights
- CCG‑2 Zoned Commercial Building: Offers versatile usage possibilities.
- Brentwood Opportunity Zone Location: Provides potential tax benefits.
- Proximity to The Springfield District: Situated just north of a popular district, offering high visibility.
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
$39,196
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
5.08%
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%
$783,920
$783.9K
Cap Rate 7%
$559,943
$559.9K
Cap Rate 9%
$435,511
$435.5K
Market Conditions
NOI Build-Up for 3,468 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
$62.4K $18.00/SF
− Vacancy
−$6.4K −$1.85/SF
EGI
$56.0K $16.15/SF
− OpEx
−$16.8K −$4.84/SF
NOI
$39.2K $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%
$783,920
Cap Rate 7%
$559,943
Cap Rate 9%
$435,511
Alternative Uses
Best Use
Retail
$559.9K
$490.0K – $653.3K
NOI $39,196 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$950.0K
$831.3K – $1.11M
NOI $66,502 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,056
Businesses Nearby
92k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 61%
Dining 24%
Groceries 15%
McDonald's
Dining
21,200 visits/mo
0.2 miles
7-Eleven
Shops & Services
14,337 visits/mo
0.0 miles
Harveys Supermarket
Groceries
14,075 visits/mo
0.3 miles
Bank of America
Shops & Services
12,708 visits/mo
0.4 miles
Shell
Shops & Services
9,189 visits/mo
0.0 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?
Storefront property - Commercial building in a redeveloping area, suitable for various uses.
Where is this storefront property located?
The property is located at 2504 N Main Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $772,000.
What are key features of this property?
This property features: CCG‑2 Zoned Commercial Building: Offers versatile usage possibilities.; Brentwood Opportunity Zone Location: Provides potential tax benefits.; Proximity to The Springfield District: Situated just north of a popular district, offering high visibility.
