Building Details

Year Built 2024

Tenancy Single

Listing Agency: Cantrell & Morgan, Inc. s***@cantrellmorgan.com Show Phone

Listed By: Kayla Deguzman · License #3087553 Show Phone

Source: Moodyscre

Added: Aug 28, 2025 Changed: Aug 30 Last Checked: Aug 30 at 2:32AM

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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 Cantrell & Morgan, Inc.

Investment Insights

Based on property information with market context.

This conventional restaurant property contains a 6254-square-foot, full-service dining operation completed in 2024. The asset is configured for a single tenant and presents a contemporary restaurant setting for an experiential dining concept.

The property is positioned at the entrance to Nocatee in St. Johns, Florida, with access from Race Track Road. The listed address is 140 Cypress Edge Dr, St Johns, FL 32259.

Key Highlights

• 6254‑square‑foot conventional restaurant property
• Constructed in 2024
• Configured for a single tenant

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

$93,210

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

4.24%

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%

$1,864,200 $1.9M

Cap Rate 7%

$1,331,571 $1.3M

Cap Rate 9%

$1,035,667 $1.0M

Market Conditions

NOI Build-Up for 6,254 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

$135.1K $21.60/SF

− Vacancy

−$10.8K −$1.73/SF

EGI

$124.3K $19.87/SF

− OpEx

−$31.1K −$4.97/SF

NOI

$93.2K $14.90/SF

Area

Jacksonville, FL

Vacancy

8.00%

Lease Rate

$21.60 /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%

$1,864,200

Cap Rate 7%

$1,331,571

Cap Rate 9%

$1,035,667

Alternative Uses

Best Use

Specialty Retail

$1.33M

$1.17M – $1.55M (±1% cap)

NOI $93,210 @ 7.0% cap · market cap 4.24%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.71M

$1.50M – $2.00M (±1% cap)

NOI $119,927 @ 7.0% cap · market cap 5.45%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Auto Repair Shop HVAC Service Real Estate Agency Electrical Service Restaurant Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

27

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 32259, FL

62,169

Population

23,235

Households

2.7

Avg Household Size

38

Median Age

54%

College-Educated

98%

High-School Grad

56.5 sq mi

ZIP Area

1,100

Density / Sq Mi

$144,168

Median Household Income

$65,584

Median Earnings

$2,268

Median Rent

$480,800

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Full-service dining property constructed in 2024 at the entrance to Nocatee.

Where is this conventional restaurant located?

The property is located at 140 Cypress Edge Dr Saint Johns, FL.

What is the asking price?

The asking price for this property is $2,200,000.

What are key features of this property?

This property features: 6254‑square‑foot conventional restaurant property; Constructed in 2024; Configured for a single tenant