Historic Office Building with
For Sale
Contact for pricing
1334 WALNUT Street, Jacksonville, FL 32206
1928 office building with two professional suites, including ADA-compliant restrooms and a shared rear patio.
Property Size3,500 SF
Price / SF$176.86
Days on Market95
Property Features for 1334 WALNUT Street
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Office, Retail, Mixed Use, Special Purpose
Additional Details
Office Units
2
Amenities
shared rear patio
Building Details
Year Built
1928
Tenancy
Multi
Listing Agency:
BELLE EPOQUE REALTY SERVICES LLC
(904) 382-7695
Listed By:
Thomas Love · License #3118560
Source:
Crexi
Added: May 11
Changed: Jul 22
Last Checked: Aug 11 at 8:08PM
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 BELLE EPOQUE REALTY SERVICES LLC
Investment Insights
Based on property information with market context.
Built in 1928, this historic office building offers approximately 3,500 SF across two professional suites. One suite is currently tenant-occupied on a month-to-month basis, while the second suite is available and includes soaring ceilings, a reception area, multiple private offices, a dedicated conference room, a kitchenette, and two ADA-compliant restrooms.
The building includes a shared rear patio and is located on a quiet, tree-lined street just off Main Street in Jacksonville’s Springfield district, within walkable distance of Downtown Jacksonville’s central business district.
The space is configured to support traditional office use, with separate suite areas that allow an owner to occupy one suite while retaining rental income from the other.
The building includes a shared rear patio and is located on a quiet, tree-lined street just off Main Street in Jacksonville’s Springfield district, within walkable distance of Downtown Jacksonville’s central business district.
The space is configured to support traditional office use, with separate suite areas that allow an owner to occupy one suite while retaining rental income from the other.
Key Highlights
- 1928 office building in Jacksonville’s historic Springfield district with two professional suites totaling approx. 3,500 SF
- One suite totals approx. 2,333 SF and includes reception area, multiple private offices, conference room, kitchenette, and 2 ADA‑compliant restrooms
- Second suite totals approx. 1,167 SF and is rented to a sitting tenant on a month‑to‑month basis
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
$50,337
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
8.13%
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%
$1,006,740
$1.0M
Cap Rate 7%
$719,100
$719.1K
Cap Rate 9%
$559,300
$559.3K
Market Conditions
NOI Build-Up for 3,500 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
$84.0K $24.00/SF
− Vacancy
−$16.9K −$4.82/SF
EGI
$67.1K $19.18/SF
− OpEx
−$16.8K −$4.79/SF
NOI
$50.3K $14.38/SF
Area
Jacksonville, FL
Vacancy
20.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,006,740
Cap Rate 7%
$719,100
Cap Rate 9%
$559,300
Alternative Uses
Best Use
Office B
$719.1K
$629.2K – $839.0K
NOI $50,337 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$958.8K
$839.0K – $1.12M
NOI $67,116 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,000
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 Office in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 1928 office building with two professional suites, including ADA-compliant restrooms and a shared rear patio.
Where is this office units located?
The property is located at 1334 WALNUT Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: 1928 office building in Jacksonville’s historic Springfield district with two professional suites totaling approx. 3,500 SF; One suite totals approx. 2,333 SF and includes reception area, multiple private offices, conference room, kitchenette, and 2 ADA‑compliant restrooms; Second suite totals approx. 1,167 SF and is rented to a sitting tenant on a month‑to‑month basis
