Historic Mixed-Use Commercial
For Sale
$1,195,000
1602 Walnut Street #1602, Jacksonville, FL 32206
Restaurant, event, and professional office areas share a freestanding building with an outdoor garden courtyard.
Property Size4,658 SF
Lot Size0.17 Acres
Price / SF$256.55
Days on Market45
Property Features for 1602 Walnut Street #1602
General Information
Standard status
Active
Size
4,658 SF
Lot size
0.17 Acres
Property subtype
Commercial
Zoning
Commercial
Additional Details
Condition
Built-Out
Road Access
Yes
Office Units
2
Property Use
Office, Restaurant, Event Space
Taxes and HOA fees
Annual Taxes
$2,338
Amenities
outdoor garden courtyard
Building Details
Building Size
4,658 SF
Year Built
1926
Buildings
1
Owner Occupied
No
Listing Agency:
BELLE EPOQUE REALTY SERVICES LLC
(904) 382-7695
Listed By:
THOMAS LOVE · License #3118560
(904) 299-0368
Source:
Interlachenrealty
Added: Sep 18
Changed: Oct 30
Last Checked: Oct 30 at 3:19PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Dating to 1926, this freestanding commercial property contains a 2,400-square-foot restaurant area, a 400-square-foot event room, and two professional offices of approximately 1,000 square feet each. A 1,200-square-foot garden courtyard adjoins the building, which is currently vacant. A Phase I environmental assessment and follow-up Phase II assessment found no contamination requiring remediation.
The property spans approximately 0.165 acres, or 7,187 square feet, across five parcels in Jacksonville’s Historic Springfield district. Street parking is available, and the property is within walking distance of downtown Jacksonville’s employment core and the Springfield commercial corridor.
The property spans approximately 0.165 acres, or 7,187 square feet, across five parcels in Jacksonville’s Historic Springfield district. Street parking is available, and the property is within walking distance of downtown Jacksonville’s employment core and the Springfield commercial corridor.
Key Highlights
- 2,400‑square‑foot restaurant space and 400‑square‑foot event room
- Two professional offices of approximately 1,000 square feet each
- Adjoining 1,200‑square‑foot garden courtyard
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
Office B
$957.0K
$837.4K – $1.12M
NOI $66,991 @ 7.0% cap · market cap 5.61%
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
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
Explore this area
Business Placement
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 Office in Jacksonville, FL
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant, event, and professional office areas share a freestanding building with an outdoor garden courtyard.
Where is this mixed-use property located?
The property is located at 1602 Walnut Street #1602 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: 2,400‑square‑foot restaurant space and 400‑square‑foot event room; Two professional offices of approximately 1,000 square feet each; Adjoining 1,200‑square‑foot garden courtyard
