Renovated Condo with Lake
For Sale
$210,000
7754 LAS PALMAS Way 135, Jacksonville, FL 32256
Sophisticated, modern condo with lake views and renovated features.
Property Size1,389 SF
Lot Size0.01 Acres
Price / SF$151.19
Days on Market640
Property Features for 7754 LAS PALMAS Way 135
General Information
Standard status
Active
Size
1,389 SF
Lot size
0.01 Acres
Property subtype
Condo/Townhome
Building Details
Year Built
1973
Listing Agency:
COLDWELL BANKER VANGUARD REALTY
(904) 269-7117
Listed By:
ANDRIA EDWARDS · License #3038668
Source:
Exitrealty
Added: Nov 11, 2024
Changed: Aug 8
Last Checked: Aug 12 at 4:39AM
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 COLDWELL BANKER VANGUARD REALTY
Investment Insights
Based on property information with market context.
This renovated condo offers modern design and lake views. The kitchen features appliances, a farmhouse sink, and a passthrough window to the dining room. The downstairs area has tile flooring and a lake view. Upstairs, there are two bedrooms, each with a full bath. The master bedroom includes a balcony overlooking the lake. The property size is 1389 square feet.
Key Highlights
- One year of homeowner's dues paid with acceptable offer.
- Enjoy a LAKE VIEW from this renovated condo with modern design.
- Two bedrooms, each with a full bath.
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
$12,017
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
5.72%
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%
$240,340
$240.3K
Cap Rate 7%
$171,671
$171.7K
Cap Rate 9%
$133,522
$133.5K
Market Conditions
NOI Build-Up for 1,389 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 $17.40/SF
− Vacancy
−$2.3K −$1.67/SF
EGI
$21.8K $15.73/SF
− OpEx
−$9.8K −$7.08/SF
NOI
$12.0K $8.65/SF
Area
ZIP 32256
Vacancy
9.60%
Lease Rate
$17.40 /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%
$240,340
Cap Rate 7%
$171,671
Cap Rate 9%
$133,522
Alternative Uses
Best Use
Apartment 5plus
$171.7K
$150.2K – $200.3K
NOI $12,017 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$370.5K
$324.2K – $432.3K
NOI $25,935 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Explore this area
Business Placement
Demographics for 32256, FL
53,611
Population
27,735
Households
1.9
Avg Household Size
37
Median Age
53%
College-Educated
97%
High-School Grad
61.4 sq mi
ZIP Area
873
Density / Sq Mi
$73,203
Median Household Income
$47,360
Median Earnings
$1,586
Median Rent
$360,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Sophisticated, modern condo with lake views and renovated features.
Where is this residential income property located?
The property is located at 7754 LAS PALMAS Way 135 Jacksonville, FL.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: One year of homeowner's dues paid with acceptable offer.; Enjoy a LAKE VIEW from this renovated condo with modern design.; Two bedrooms, each with a full bath.
