Mixed-Use Property with
For Sale
$1,195,000
1602-1602 Walnut Street, Jacksonville, FL 32206
The vacant building combines restaurant, event, and professional office areas with an outdoor garden courtyard.
Property Size4,800 SF
Lot Size0.17 Acres
Price / SF$256.55
Days on Market47
Property Features for 1602-1602 Walnut Street
General Information
Standard status
Active
Size
4,800 SF
Lot size
0.17 Acres
Zoning
CN-S
Additional Details
Office Units
2
Property Use
Office
Taxes and HOA fees
Annual Taxes
$2,338
Amenities
outdoor garden courtyard
street parking
Building Details
Buildings
1
Building Size
4,800 SF
Listing Agency:
BELLE EPOQUE REALTY SERVICES LLC
Listed By:
THOMAS LOVE · License #3118560
(904) 382-7695
Source:
Exprealty
Added: Sep 18
Changed: Nov 1
Last Checked: Nov 3 at 8:28AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 1602 Walnut Street, this freestanding property dates to the 1920s and is arranged with a 2,400-square-foot restaurant area, a 400-square-foot event room, and two professional offices of approximately 1,000 square feet each. An adjoining 1,200-square-foot garden courtyard extends the usable space outdoors. The property is vacant, and its site spans five parcels totaling approximately 0.165 acres, or 7,187 square feet. Zoning is CN-S (Commercial Neighborhood, Springfield).
The property is in Jacksonville’s Springfield district, which has local and National Register historic designations. Downtown Jacksonville’s employment core and the Springfield commercial corridor are within walking distance. Street parking is available. Phase I and subsequent Phase II environmental assessments found no contamination requiring remediation.
The property is in Jacksonville’s Springfield district, which has local and National Register historic designations. Downtown Jacksonville’s employment core and the Springfield commercial corridor are within walking distance. Street parking is available. Phase I and subsequent Phase II environmental assessments found no contamination requiring remediation.
Key Highlights
- Restaurant area of 2,400 square feet, event room of 400 square feet, and two offices of approximately 1,000 square feet each
- Adjoining garden courtyard measures 1,200 square feet
- Five‑parcel site totaling approximately 0.165 acres, or 7,187 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,423
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,388,460
$1.4M
Cap Rate 7%
$991,757
$991.8K
Cap Rate 9%
$771,367
$771.4K
Market Conditions
NOI Build-Up for 4,658 SF
Gross rent
$100.6K $21.60/SF
− Vacancy
−$8.0K −$1.73/SF
EGI
$92.6K $19.87/SF
− OpEx
−$23.1K −$4.97/SF
NOI
$69.4K $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 Rate 5%
$1,388,460
Cap Rate 7%
$991,757
Cap Rate 9%
$771,367
Alternative Uses
Best Use
Specialty Retail
$991.8K
$867.8K – $1.16M
NOI $69,423 @ 7.0% cap · market cap 5.81%
Second Best
Mixed Use
$878.4K
$768.6K – $1.02M
NOI $61,486 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,322 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
14k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 82%
Shops & Services 18%
Popeyes Louisiana Kitchen
Dining
6,592 visits/mo
0.5 miles
KFC
Dining
4,747 visits/mo
0.4 miles
Wells Fargo
Shops & Services
2,560 visits/mo
0.3 miles
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 Retail in Jacksonville, FL
Frequently Asked Questions
What type of property is this?
Mixed-use property - The vacant building combines restaurant, event, and professional office areas with an outdoor garden courtyard.
Where is this mixed-use property located?
The property is located at 1602-1602 Walnut Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Restaurant area of 2,400 square feet, event room of 400 square feet, and two offices of approximately 1,000 square feet each; Adjoining garden courtyard measures 1,200 square feet; Five‑parcel site totaling approximately 0.165 acres, or 7,187 square feet
