Renovated Condo Near Jacksonville
For Sale
$305,000
Pending
13364 BEACH Boulevard 1025, Jacksonville, FL 32224
Updated condo in Wolf Creek, close to Jacksonville Beach.
Property Size1,623 SF
Days on Market643
Property Features for 13364 BEACH Boulevard 1025
General Information
Standard status
Pending
Size
1,623 SF
Property subtype
Condo/Townhome
Building Details
Year Built
2006
Listing Agency:
MAZEN HOMES, INC.
(904) 874-5151
Listed By:
KAYA FRECHETTE · License #3430419
(904) 874-5151
Source:
Exitrealty
Added: Nov 8, 2024
Changed: Jul 6
Last Checked: Jul 23 at 6:21AM
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 MAZEN HOMES, INC.
Investment Insights
Based on property information with market context.
This renovated condominium is located in the Wolf Creek neighborhood, a short distance from Jacksonville Beach. The concrete block construction offers durability. The unit has been fully renovated to provide a modern, open living space with neutral colors and decor. The property features full tile flooring throughout, an updated kitchen, updated appliances, updated bathrooms, and a tankless hot water heater. The property size is 1623 square feet.
Key Highlights
- Concrete block construction, a rare feature for condos in the area
- Recently renovated with modern, open living space and neutral decor**
- Priced under appraised value of $335k (June 2024)
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
$12,007
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
3.94%
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%
$240,140
$240.1K
Cap Rate 7%
$171,529
$171.5K
Cap Rate 9%
$133,411
$133.4K
Market Conditions
NOI Build-Up for 1,623 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
$24.2K $14.88/SF
− Vacancy
−$2.3K −$1.43/SF
EGI
$21.8K $13.45/SF
− OpEx
−$9.8K −$6.05/SF
NOI
$12.0K $7.40/SF
Area
Jacksonville, FL
Vacancy
9.60%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$240,140
Cap Rate 7%
$171,529
Cap Rate 9%
$133,411
Alternative Uses
Best Use
Apartment 5plus
$171.5K
$150.1K – $200.1K
NOI $12,007 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$444.6K
$389.0K – $518.7K
NOI $31,123 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 32224, FL
42,395
Population
17,221
Households
2.5
Avg Household Size
36
Median Age
54%
College-Educated
97%
High-School Grad
20.9 sq mi
ZIP Area
2,028
Density / Sq Mi
$80,774
Median Household Income
$48,043
Median Earnings
$1,690
Median Rent
$425,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo in Wolf Creek, close to Jacksonville Beach.
Where is this residential income property located?
The property is located at 13364 BEACH Boulevard 1025 Jacksonville, FL.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Concrete block construction, a rare feature for condos in the area; Recently renovated with modern, open living space and neutral decor**; Priced under appraised value of $335k (June 2024)
