Block Flex Building with
For Sale
$425,000
3429 North Liberty Street, Jacksonville, FL 32206
Warehouse and administrative areas support varied commercial operations within an IL-zoned building.
Property Size4,000 SF
Price / SF$106.25
Days on Market983
Property Features for 3429 North Liberty Street
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial Sale / Mixed Use
Zoning
IL
Taxes and HOA fees
Annual Taxes
$3,819
Amenities
Central Air
No
Square Feet
Block
Building Details
Year Built
1959
Listing Agency:
COLDWELL BANKER COMMERCIAL PREMIER PROPERTIES
(904) 537-6443
Listed By:
Eric Maimo · License #3254822
(904) 537-6443
Source:
Compass
Added: Dec 22, 2023
Changed: Aug 29
Last Checked: Aug 31 at 12:40AM
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 COMMERCIAL PREMIER PROPERTIES
Investment Insights
Based on property information with market context.
This 4,000-square-foot flex property combines a concrete block warehouse with an attached 912-square-foot office area. Central air serves the office component, providing a practical administrative setting alongside the larger work area. The building was constructed in 1959 and is identified as IL zoned.
Located at 3429 North Liberty Street in Jacksonville, the property is near Downtown Jacksonville. Its configuration brings warehouse and office functions together in one commercial building, with space suited to storage, manufacturing, or distribution uses as described in the property information.
Located at 3429 North Liberty Street in Jacksonville, the property is near Downtown Jacksonville. Its configuration brings warehouse and office functions together in one commercial building, with space suited to storage, manufacturing, or distribution uses as described in the property information.
Key Highlights
- 4,000 SF concrete block building
- Attached 912 SF office area
- Warehouse and office components in one flex property
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
$26,989
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
6.35%
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%
$539,780
$539.8K
Cap Rate 7%
$385,557
$385.6K
Cap Rate 9%
$299,878
$299.9K
Market Conditions
NOI Build-Up for 4,000 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
$33.6K $8.40/SF
− Vacancy
−$1.8K −$0.46/SF
EGI
$31.8K $7.94/SF
− OpEx
−$4.8K −$1.19/SF
NOI
$27.0K $6.75/SF
Area
Jacksonville, FL
Vacancy
5.50%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$539,780
Cap Rate 7%
$385,557
Cap Rate 9%
$299,878
Alternative Uses
Best Use
Office B
$821.8K
$719.1K – $958.8K
NOI $57,528 @ 7.0% cap · market cap 13.54%
Second Best
Flex RnD
$621.8K
$544.1K – $725.4K
NOI $43,524 @ 7.0% cap · market cap 10.24%
Theoretical Best
Office A
$1.10M
$958.8K – $1.28M
NOI $76,704 @ 7.0% cap · market cap 18.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Under-served
Demand for This Use
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 Office in Jacksonville, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse and administrative areas support varied commercial operations within an IL-zoned building.
Where is this flex space located?
The property is located at 3429 North Liberty Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 4,000 SF concrete block building; Attached 912 SF office area; Warehouse and office components in one flex property
