Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Springfield Mixed-Use Property Title is generated by Realmo AI

    1602 Walnut Street, Jacksonville, FL 32206

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    6,000 SF mixed-use property in Historic Springfield.

    Type:Retail
    Property size:
    6,000 SF
    Added:
    Mar 25, 2026
    Days on Market:
    47
    Last Refresh:
    Mar 18 at 7:52 am

    Property Features for 1602 Walnut Street

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Lara Bahri

    Listing agent Lara Bahri

    Listing office CBRE | Jacksonville

    Listing date Mar 25, 2026

    Source Cbre

    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 CBRE | Jacksonville

    HighLights

    • Excellent investment opportunity in Historic Springfield.
    • Mixed‑use property with restaurant, events room, and two professional offices.
    • Generous 6,000 SF floor plan.
    • Includes a 2,400 SF restaurant with ample seating.
    • Features a 1,200 SF Zen Garden connected to the restaurant.
    • Located in a vibrant, accessible area near Downtown Jacksonville with convenient parking and public transportation.

    Overview

    This 6,000 SF mixed-use property presents an investment opportunity for an owner-user or investor seeking space in Historic Springfield, a nationally and locally designated Historic District. The property features a floor plan that includes a 2,400 SF restaurant, a 400 SF events room, two professional offices totaling 2,000 SF, and a 1,200 SF Zen Garden. Constructed circa 1920s, the building is located in the Historic Springfield submarket, near Downtown Jacksonville, and is surrounded by residential and commercial properties. The restaurant space has ample seating and a well-designed layout, with an outdoor Zen Garden connected to the restaurant space. On-street parking is available, and the location offers access to public transportation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Chef Kenny's Spice ... Grocery & Convenience Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.6483013
    Latitude
    30.3427714

    Nearby Similar for Lease

    • $8,900/Mo

      Jacksonville Commercial Property with Warehouse

      Light industrial property with storefront, offices, and warehouse space.
      5352 HWY Avenue, Jacksonville, FL 32254
      View Details
    • $4,500/Mo

      Industrial Lot in Jacksonville, FL

      Secure, gated industrial lot suitable for various commercial uses.
      570 FLORENCE Street, Jacksonville, FL 32205
      View Details
    • $3,500/Mo

      Renovated Office/Retail Space in Arlington

      Move-in-ready commercial building with flexible space in a high-traffic location.
      1701 ROGERO Road, Jacksonville, FL 32211
      View Details
    • $5,500/Mo

      Former Grocery Store For Lease

      Versatile commercial property, formerly a grocery store, prime location.
      3631 EMERSON Street, Jacksonville, FL 32207
      View Details
    • $4,400/Mo

      Medical Office Space For Rent

      Prime medical office space in Jacksonville's healthcare corridor.
      6269 BEACH Boulevard, Jacksonville, FL 32216
      View Details
    • $3,600/Mo

      Versatile Commercial Property, Jacksonville, FL

      Flexible commercial space suitable for office, live/work, or storage.
      8540 W BEAVER Street, Jacksonville, FL 32220
      View Details
    • $7,475/Mo

      Prime Jacksonville Office Suite

      Expansive, refreshed office space in a premier Jacksonville location.
      7563 PHILIPS Highway, Jacksonville, FL 32256
      View Details
    • $1,800/Mo

      Versatile Commercial Space in Jacksonville

      Adaptable commercial space suitable for various business operations.
      9953 LEM TURNER Road, Jacksonville, FL 32208
      View Details
    • $2,300/Mo

      Well-Maintained Office Condo For Rent

      Office condo with enhanced natural light available for lease.
      12627 SAN JOSE Boulevard, Jacksonville, FL 32223
      View Details
    • $26,107 SF/Yr

      Jacksonville Flex Facility For Lease

      Flex facility with showroom, office, and warehouse space available for lease.
      619 CASSAT Avenue, Jacksonville, FL 32205
      View Details
    • $6,882/Mo

      Jacksonville Professional Medical/Office Space

      Class A office park with medical and office spaces available.
      12276 SAN JOSE Boulevard, Jacksonville, FL 32223
      View Details
    • $6,500/Mo

      Renovated Commercial Shop with Sublease

      Two-unit commercial shop available for lease with recent renovations.
      5804 ARLINGTON Road, Jacksonville, FL 32211
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 6,000 SF mixed-use property in Historic Springfield.
    Where is this mixed-use property located?
    The property is located at 1602 Walnut Street Jacksonville, FL.
    What are key features of this property?
    This property features: Excellent investment opportunity in Historic Springfield.; Mixed‑use property with restaurant, events room, and two professional offices.; Generous 6,000 SF floor plan.
    (904) 634-1200
    We can help!
    Listing Contact
    Lara Bahri
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1602 Walnut Street, Jacksonville, FL, 32206
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!