Craftsman Medical Office
New
For Sale
$725,000
1437 Flagler Avenue, Jacksonville, FL 32207
CRO-zoned professional property with adaptable rooms, basement storage, and handicapped access.
Property Size3,056 SF
Price / SF$237.24
Days on Market2
Property Features for 1437 Flagler Avenue
General Information
Standard status
Active
Size
3,056 SF
Property subtype
Commercial
Zoning
CRO
Amenities
built-in bookcases
brick fireplace
double-hung windows
10-inch moldings
winding staircase
handicapped ramp
Building Details
Year Built
1924
Buildings
1
Construction
concrete-block
Tenancy
Multi
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES FLORIDA NETWORK REALTY
Listed By:
Billie Bernhardt · License #42143
(904) 710-1550
Source:
Beachstaterealty
Added: Sep 2
Last Checked: Sep 2 at 2:22PM
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 BERKSHIRE HATHAWAY HOMESERVICES FLORIDA NETWORK REALTY
Investment Insights
Based on property information with market context.
Built in 1924, this 3,056-square-foot concrete-block property presents a Craftsman design with practical office functionality. Interior details include 10-ft ceilings, built-in bookcases, a brick fireplace, double-hung windows, 10-inch moldings, and a winding staircase. A 950-square-foot basement and 400 square feet of upper-level storage provide substantial support space, while the handicapped ramp improves visitor access.
Located at 1437 Flagler Avenue in Jacksonville’s San Marco area, the property includes parking for 10+ vehicles. It is zoned CRO, or Commercial, Residential, Office, and has served as a psychiatrist and psychologist office with additional rooms leased to complementary health professionals. The configuration also supports professional office uses such as physician, attorney, and therapist practices.
Located at 1437 Flagler Avenue in Jacksonville’s San Marco area, the property includes parking for 10+ vehicles. It is zoned CRO, or Commercial, Residential, Office, and has served as a psychiatrist and psychologist office with additional rooms leased to complementary health professionals. The configuration also supports professional office uses such as physician, attorney, and therapist practices.
Key Highlights
- 3,056 SF concrete‑block building constructed in 1924
- CRO zoning: Commercial, Residential, Office
- 950 sq ft basement plus 400 sq ft of upstairs storage
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
$49,507
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
6.83%
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%
$990,140
$990.1K
Cap Rate 7%
$707,243
$707.2K
Cap Rate 9%
$550,078
$550.1K
Market Conditions
NOI Build-Up for 3,056 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
$91.7K $30.00/SF
− Vacancy
−$9.2K −$3.00/SF
EGI
$82.5K $27.00/SF
− OpEx
−$33.0K −$10.80/SF
NOI
$49.5K $16.20/SF
Area
Jacksonville, FL
Vacancy
10.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
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%
$990,140
Cap Rate 7%
$707,243
Cap Rate 9%
$550,078
Alternative Uses
Best Use
Healthcare Medical
$707.2K
$618.8K – $825.1K
NOI $49,507 @ 7.0% cap · market cap 6.83%
Second Best
Office B
$627.9K
$549.4K – $732.5K
NOI $43,951 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$837.2K
$732.5K – $976.7K
NOI $58,602 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,613
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32207, FL
36,207
Population
18,866
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
11.4 sq mi
ZIP Area
3,176
Density / Sq Mi
$60,875
Median Household Income
$45,478
Median Earnings
$1,139
Median Rent
$254,800
Median Home Value
Market
Vacancy Rate% for Office in Jacksonville, FL
Questions? Ask Rey
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Similar Off Market Nearby
- Pawsitive Healing Mobility Center — 1617 Thacker Ave, Jacksonville, FL 32207
- San Marco Animal Hospital — 1546 San Marco Blvd, Jacksonville, FL 32207
Frequently Asked Questions
What type of property is this?
Medical Office Space - CRO-zoned professional property with adaptable rooms, basement storage, and handicapped access.
Where is this medical office space located?
The property is located at 1437 Flagler Avenue Jacksonville, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,056 SF concrete‑block building constructed in 1924; CRO zoning: Commercial, Residential, Office; 950 sq ft basement plus 400 sq ft of upstairs storage
