Fully Updated
For Sale
$599,000
135 E 17TH St, Jacksonville, FL 32206
Fully occupied quadplex plus rear duplex with one-bedroom, one-bath units, paved walkways, and fenced yard.
Property Size3,163 SF
Days on Market14
Property Features for 135 E 17TH St
General Information
Standard status
Active
Size
3,163 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Gross Income
$63,000
Taxes and HOA fees
Annual Taxes
$6,194
Amenities
paved walkways
fenced yard
Building Details
Building Size
3,163 SF
Year Built
1909
Buildings
2
Units
6
Tenancy
Multi
Listing Agency:
Listed By:
TREY HAGINS
Source:
Elliman
Added: Jul 30
Changed: Aug 10
Last Checked: Aug 12 at 5:37AM
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 TREY HAGINS
Investment Insights
Based on property information with market context.
This fully occupied quadplex includes updated one-bedroom, one-bath units. The front portion is described as the quadplex main home, with a duplex apartment in the rear, all on a single lot. The property includes paved walkways and a fenced yard.
Built in 1909, the community is positioned for convenient access to Downtown, hospitals, and major redevelopment corridors. Bike, walk, and transit scores are provided as 57 (Bikeable), 53 (Somewhat Walkable), and 55 (Good Transit).
Financing is discussed for qualified buyers, with seller openness to financing terms that include 30% down, 6% IO payments, a $5,000,000 repayment amount (not included in marketing pricing copy), and a 5-year balloon, with first position only and 2 properties on 1 lot.
Built in 1909, the community is positioned for convenient access to Downtown, hospitals, and major redevelopment corridors. Bike, walk, and transit scores are provided as 57 (Bikeable), 53 (Somewhat Walkable), and 55 (Good Transit).
Financing is discussed for qualified buyers, with seller openness to financing terms that include 30% down, 6% IO payments, a $5,000,000 repayment amount (not included in marketing pricing copy), and a 5-year balloon, with first position only and 2 properties on 1 lot.
Key Highlights
- Fully occupied quadplex with updated one‑bedroom, one‑bath units
- Quadplex main home in front plus duplex apartment in rear on one lot
- Built in 1909
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
$29,700
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
4.96%
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%
$594,000
$594.0K
Cap Rate 7%
$424,286
$424.3K
Cap Rate 9%
$330,000
$330.0K
Market Conditions
NOI Build-Up for 3,163 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
$46.7K $14.76/SF
− Vacancy
−$4.3K −$1.35/SF
EGI
$42.4K $13.41/SF
− OpEx
−$12.7K −$4.02/SF
NOI
$29.7K $9.39/SF
Area
Jacksonville, FL
Vacancy
9.12%
Lease Rate
$14.76 /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%
$594,000
Cap Rate 7%
$424,286
Cap Rate 9%
$330,000
Alternative Uses
Best Use
Multifamily LT 5
$424.3K
$371.3K – $495.0K
NOI $29,700 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$334.3K
$292.5K – $390.0K
NOI $23,401 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$866.5K
$758.2K – $1.01M
NOI $60,654 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
821
Businesses Nearby
Explore this area
Business Placement
Demographics for 32206, FL
18,283
Population
9,415
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
82%
High-School Grad
6.2 sq mi
ZIP Area
2,949
Density / Sq Mi
$37,585
Median Household Income
$34,353
Median Earnings
$866
Median Rent
$153,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied quadplex plus rear duplex with one-bedroom, one-bath units, paved walkways, and fenced yard.
Where is this quadplex located?
The property is located at 135 E 17TH St Jacksonville, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Fully occupied quadplex with updated one‑bedroom, one‑bath units; Quadplex main home in front plus duplex apartment in rear on one lot; Built in 1909
