Historic Medical Office
For Sale
$725,000
1437 FLAGLER Avenue, Jacksonville, FL 32207
Commercial Sale, Jacksonville, FL
Property Size3,056 SF
Lot Size0.27 Acres
Price / SF$237.24
Days on Market9
Property Features for 1437 FLAGLER Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning description
Commercial/Residential/Office
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Parking features
Parking Lot
Accessibility
Accessible Approach with Ramp
Subdivision
Oklahoma
Lot features
Historic Area
Directions
San Jose Blvd. North turns into Hendricks Avenue. Continue North to left onto Cedar Street. Right onto Flagler across from The Lofts of San Marco.
Standard status
Active
APN
0806900000
Size
3,056 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5612
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s)
Water source
Public
Amenities
built-in bookcases
showcase brick fireplace
double-hung windows
10-inch moldings
winding staircase
handicapped ramp
Building Details
Year built
1924
Floors in Building
2
Number of units
1
Flooring type
Tile, Carpet
Building materials
Block
Roof type
Shingle
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES FLORIDA NETWORK REALTY
(904) 739-0717
Listed By:
BILLIE BERNHARDT · License #42143
(904) 710-1550
Added: Sep 1
Changed: Sep 9
Last Checked: Sep 9 at 8:06AM
MLS# 2162969
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1924, this 3,056-square-foot concrete-block medical office property combines an established professional layout with period architectural details. The interior includes 10-foot ceilings, built-in bookcases, a brick fireplace, double-hung windows, 10-inch moldings, tile and carpet flooring, and a winding staircase. Three bathrooms, a 950-square-foot basement, and 400 square feet of upstairs storage add functional capacity. Cooling includes central air and wall/window units.
The property occupies 0.27 acres at 1437 Flagler Avenue in Jacksonville, within the San Marco area. CRO zoning supports commercial, residential, and office uses. A parking lot accommodates 10+ vehicles, while a handicapped ramp provides accessible approach. Public water and public sewer serve the property, and the roof is shingle.
The property occupies 0.27 acres at 1437 Flagler Avenue in Jacksonville, within the San Marco area. CRO zoning supports commercial, residential, and office uses. A parking lot accommodates 10+ vehicles, while a handicapped ramp provides accessible approach. Public water and public sewer serve the property, and the roof is shingle.
Key Highlights
- 3,056‑square‑foot medical office property on 0.27 acres
- Built in 1924 with concrete‑block construction
- CRO zoning: Commercial, Residential, Office
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 office property with adaptable rooms, accessible entry, and on-site parking in Jacksonville’s San Marco area.
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‑square‑foot medical office property on 0.27 acres; Built in 1924 with concrete‑block construction; CRO zoning: Commercial, Residential, Office
