Flex Space with Off-Street
For Sale
$1,500,000
Pending
711 CASSAT Avenue, Jacksonville, FL 32205
Commercial Sale, Jacksonville, FL
Property Size6,909 SF
Lot Size0.53 Acres
Days on Market380
Property Features for 711 CASSAT Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Off Street, Parking Lot, Assigned
Fencing
Privacy, Chain Link
Lot features
Corner Lot
Directions
I-10 to Exit 358 (Cassat Ave.). South on Cassat Ave. for 0.2 miles. Property is located on the northeast corner of Cassat Ave. and Ramona Blvd.
Subdivision
051-Murray Hill
Standard status
Pending
APN
0793210100
Size
6,909 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
12477
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Multi Units, Heat Pump
Water source
Public
Amenities
off-street parking
Building Details
Year built
2003
Flooring type
Concrete
Roof type
Metal
Listing Agency:
COLDWELL BANKER VANGUARD REALTY · Coldwell Banker Real Estate
(904) 269-7117
Listed By:
EUGENE CALABRASE
(904) 738-5625
Added: Aug 22, 2025
Changed: Sep 2
Last Checked: Sep 5 at 5:06PM
MLS# 2105205
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.
The property at 711 Cassat Avenue is a 6,909-square-foot flex space completed in 2003. The building has concrete flooring, a metal roof, heat-pump heating, and cooling provided by heat-pump and multi-unit systems. Its configuration is described as suitable for retail, office, or industrial purposes.
The 0.53-acre site includes a parking lot with assigned and off-street parking, along with chain-link and privacy fencing. Public water and public sewer serve the property. Located in Jacksonville’s 32205 ZIP code, the building offers a practical combination of usable commercial space, site area, parking, and established building systems.
The 0.53-acre site includes a parking lot with assigned and off-street parking, along with chain-link and privacy fencing. Public water and public sewer serve the property. Located in Jacksonville’s 32205 ZIP code, the building offers a practical combination of usable commercial space, site area, parking, and established building systems.
Key Highlights
- 6,909 square feet of flex space on a 0.53‑acre site
- Built in 2003 with a metal roof and concrete flooring
- Parking lot with assigned and off‑street parking
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
$78,087
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
5.21%
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%
$1,561,740
$1.6M
Cap Rate 7%
$1,115,529
$1.1M
Cap Rate 9%
$867,633
$867.6K
Market Conditions
NOI Build-Up for 6,909 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
$124.4K $18.00/SF
− Vacancy
−$12.8K −$1.85/SF
EGI
$111.6K $16.15/SF
− OpEx
−$33.5K −$4.84/SF
NOI
$78.1K $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%
$1,561,740
Cap Rate 7%
$1,115,529
Cap Rate 9%
$867,633
Alternative Uses
Best Use
Retail
$1.12M
$976.1K – $1.30M
NOI $78,087 @ 7.0% cap · market cap 5.21%
Second Best
Flex RnD
$1.07M
$939.7K – $1.25M
NOI $75,177 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$1.89M
$1.66M – $2.21M
NOI $132,487 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Concrete flooring, public utilities, and multiple parking options support a range of commercial configurations.
Where is this flex space located?
The property is located at 711 CASSAT Avenue Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 6,909 square feet of flex space on a 0.53‑acre site; Built in 2003 with a metal roof and concrete flooring; Parking lot with assigned and off‑street parking
