Tenant-Occupied 9-Unit Multifamily
New
For Sale
$1,050,000
1717 LINDSEY Rd, Jacksonville, FL 32221
Portfolio includes one detached residence and four duplex buildings with practical unit layouts.
Property Size6,822 SF
Days on Market3
Property Features for 1717 LINDSEY Rd
General Information
Standard status
Active
Size
6,822 SF
Property subtype
Investment
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$5,515
Building Details
Building Size
6,822 SF
Year Built
1952
Buildings
5
Units
9
Listing Agency:
(904) 580-0330
Listed By:
MICHAEL BRADDOCK · License #3419431
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 5:33AM
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 MICHAEL BRADDOCK
Investment Insights
Based on property information with market context.
This multifamily offering contains nine occupied units across five buildings: a single-family residence at 8159 Raymond St and four duplex properties on Lindsey Rd, including 1771/1773, 1717A/1717B, 1723/1727, and 1735/1739 Lindsey Rd. The improvements date to 1952 and provide straightforward residential layouts across the assembled holdings.
Water is included with rent for every unit. Three units use a shared well and septic system, while the remaining units receive city water and sewer service. The property is professionally managed, and the current tenant occupancy limits interior access until the property is under contract. The offering may also be acquired individually or alongside additional properties in the referenced portfolio.
Water is included with rent for every unit. Three units use a shared well and septic system, while the remaining units receive city water and sewer service. The property is professionally managed, and the current tenant occupancy limits interior access until the property is under contract. The offering may also be acquired individually or alongside additional properties in the referenced portfolio.
Key Highlights
- Nine occupied units across one single‑family home and four duplex buildings
- Properties include 8159 Raymond St and four Lindsey Rd duplex locations
- Year built: 1952
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
$64,057
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
6.10%
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%
$1,281,140
$1.3M
Cap Rate 7%
$915,100
$915.1K
Cap Rate 9%
$711,744
$711.7K
Market Conditions
NOI Build-Up for 6,822 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
$100.7K $14.76/SF
− Vacancy
−$9.2K −$1.35/SF
EGI
$91.5K $13.41/SF
− OpEx
−$27.5K −$4.02/SF
NOI
$64.1K $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%
$1,281,140
Cap Rate 7%
$915,100
Cap Rate 9%
$711,744
Alternative Uses
Best Use
Multifamily LT 5
$915.1K
$800.7K – $1.07M
NOI $64,057 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$721.0K
$630.9K – $841.2K
NOI $50,471 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $130,819 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 32221, FL
30,961
Population
11,650
Households
2.7
Avg Household Size
39
Median Age
23%
College-Educated
89%
High-School Grad
47.5 sq mi
ZIP Area
652
Density / Sq Mi
$82,571
Median Household Income
$44,725
Median Earnings
$1,660
Median Rent
$244,500
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?
Multifamily property - Portfolio includes one detached residence and four duplex buildings with practical unit layouts.
Where is this multifamily property located?
The property is located at 1717 LINDSEY Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Nine occupied units across one single‑family home and four duplex buildings; Properties include 8159 Raymond St and four Lindsey Rd duplex locations; Year built: 1952
