High-Exposure Corner Location in
For Sale
$995,000
1512 Cassat Ave, Jacksonville, FL 32205
Prime automotive corridor location with high visibility and easy access.
Property Size8,663 SF
Lot Size1.01 Acres
Price / SF$114.86
Days on Market193
Property Features for 1512 Cassat Ave
General Information
Standard status
Active
Size
8,663 SF
Class
C
Lot size
1.01 Acres
Property subtype
Retail
Building Details
Building Size
8,663 SF
Year Built
1983
Listed By:
Alex Evans · License #FL #CQ1053783
(904) 210-9878
Source:
Creprojax
Added: Feb 25
Changed: Aug 11
Last Checked: Sep 5 at 6:35AM
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 Alex Evans
Investment Insights
Based on property information with market context.
This property is situated on a corner location at Cassat Avenue and Park Street, within Jacksonville’s Westside Automotive Corridor. The site encompasses approximately 1.01 acres and features two buildings, offering a combined area of approximately 8,663 square feet of office and service space. Positioned at a four-way signalized intersection, the location benefits from traffic counts exceeding 21,000 vehicles per day, enhancing visibility and accessibility. The property is surrounded by major dealerships, including Nimnicht Chevrolet, Duval Ford, and Westside Hyundai. It is located approximately 1.5 miles from I-95 and roughly 4.5 miles from the I-10 and I-95 interchange. The property is suitable for automotive sales and service, retail showroom, or other commercial uses, with redevelopment potential in a growth corridor.
Key Highlights
- Prime corner location at Cassat Avenue and Park Street in Jacksonville’s Westside Automotive Corridor.
- High traffic counts exceeding 21,000 vehicles per day at a four‑way signalized intersection.
- Approximately 1.01 acres with two buildings totaling ±8,663 square feet of office and service space.
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
$48,137
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
4.84%
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%
$962,740
$962.7K
Cap Rate 7%
$687,671
$687.7K
Cap Rate 9%
$534,856
$534.9K
Market Conditions
NOI Build-Up for 8,663 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
$72.8K $8.40/SF
− Vacancy
−$4.0K −$0.46/SF
EGI
$68.8K $7.94/SF
− OpEx
−$20.6K −$2.38/SF
NOI
$48.1K $5.56/SF
Area
Jacksonville, FL
Vacancy
5.50%
Lease Rate
$8.40 /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%
$962,740
Cap Rate 7%
$687,671
Cap Rate 9%
$534,856
Alternative Uses
Best Use
Retail
$1.40M
$1.22M – $1.63M
NOI $97,911 @ 7.0% cap · market cap 9.84%
Second Best
Industrial
$687.7K
$601.7K – $802.3K
NOI $48,137 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$2.37M
$2.08M – $2.77M
NOI $166,122 @ 7.0% cap · market cap 16.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
685
Businesses Nearby
22k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Dining 14%
Circle K
Shops & Services
11,924 visits/mo
0.1 miles
Enterprise Rent-A-Car
Shops & Services
3,433 visits/mo
0.3 miles
Firehouse Subs
Dining
3,074 visits/mo
0.5 miles
Duval Ford
Shops & Services
2,267 visits/mo
0.1 miles
DriveTime Used Cars
Shops & Services
698 visits/mo
0.3 miles
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 Retail in Jacksonville, FL
Questions? Ask Rey
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Similar Off Market Nearby
- Enterprise Truck Rental — 1705 Cassat Ave, Jacksonville, FL 32210
- Enterprise Rent-A-Car — 1430 Cassat Ave, Jacksonville, FL 32205
- Imagine Autos — 1290 Cassat Ave, Jacksonville, FL 32205
Frequently Asked Questions
What type of property is this?
Automotive property - Prime automotive corridor location with high visibility and easy access.
Where is this automotive property located?
The property is located at 1512 Cassat Ave Jacksonville, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime corner location at Cassat Avenue and Park Street in Jacksonville’s Westside Automotive Corridor.; High traffic counts exceeding 21,000 vehicles per day at a four‑way signalized intersection.; Approximately 1.01 acres with two buildings totaling ±8,663 square feet of office and service space.
