Flex Space with
New
For Sale
Under Contract
$330,000
1549 BLANDING Boulevard, Jacksonville, FL 32210
Commercial Sale, Jacksonville, FL
Property Size1,360 SF
Lot Size0.50 Acres
Price / SF$242.65
Days on Market2
Property Features for 1549 BLANDING Boulevard
General Information
Property type
Residential
Property subtype
Office
Parking features
Garage
Lot features
Corner Lot, Few Trees
Directions
From Cassat ave go east on Park st until you get to Blanding Blvd. Cross over Blanding Blvd and the property is on the right hand side
Subdivision
051-Murray Hill
Standard status
Active Under Contract
APN
0689340000
Size
1,360 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2723
Building Details
Year built
1941
Listing Agency:
FORWARD REAL ESTATE INVESTMENT GROUP LLC
Listed By:
LARRY BOYLES · License #3279114
(904) 655-7778
Added: Sep 2
Last Checked: Sep 3 at 3:06PM
MLS# 2163175
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.
This flex property includes a 1,360-square-foot main building with three rooms, two bathrooms, and a kitchen. A separate 1,080-square-foot enclosed garage and flex building adds two overhead garage doors and a framed interior office. Together, the improvements provide approximately 2,440 square feet of enclosed space, with areas suited to offices, reception, conference functions, equipment storage, workshop activity, or inventory handling.
Located at 1549 Blanding Boulevard in Jacksonville, the property offers frontage along the boulevard and access to the Westside. CRO (Commercial/Residential/Office) zoning accommodates professional, office, and mixed-use applications identified for the site. The property was built in 1941 and includes garage parking.
Located at 1549 Blanding Boulevard in Jacksonville, the property offers frontage along the boulevard and access to the Westside. CRO (Commercial/Residential/Office) zoning accommodates professional, office, and mixed-use applications identified for the site. The property was built in 1941 and includes garage parking.
Key Highlights
- Approximately 2,440 square feet of total enclosed space
- 1,360‑square‑foot main building with three rooms, two bathrooms, and a kitchen
- Separate 1,080‑square‑foot enclosed garage/flex building
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
$19,045
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
5.77%
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%
$380,900
$380.9K
Cap Rate 7%
$272,071
$272.1K
Cap Rate 9%
$211,611
$211.6K
Market Conditions
NOI Build-Up for 1,360 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
$32.6K $24.00/SF
− Vacancy
−$7.2K −$5.33/SF
EGI
$25.4K $18.67/SF
− OpEx
−$6.3K −$4.67/SF
NOI
$19.0K $14.00/SF
Area
ZIP 32210
Vacancy
22.20%
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%
$380,900
Cap Rate 7%
$272,071
Cap Rate 9%
$211,611
Alternative Uses
Best Use
Office B
$272.1K
$238.1K – $317.4K
NOI $19,045 @ 7.0% cap · market cap 5.77%
Second Best
Flex RnD
$181.2K
$158.6K – $211.5K
NOI $12,687 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$372.6K
$326.0K – $434.7K
NOI $26,079 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
903
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32210, FL
66,415
Population
29,198
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
88%
High-School Grad
21.9 sq mi
ZIP Area
3,033
Density / Sq Mi
$58,215
Median Household Income
$36,997
Median Earnings
$1,205
Median Rent
$205,300
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?
Flex space - CRO-zoned property combines office accommodations with enclosed workshop and storage capacity along Blanding Boulevard.
Where is this flex space located?
The property is located at 1549 BLANDING Boulevard Jacksonville, FL.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Approximately 2,440 square feet of total enclosed space; 1,360‑square‑foot main building with three rooms, two bathrooms, and a kitchen; Separate 1,080‑square‑foot enclosed garage/flex building
