Historic Storefront
New
For Sale
$1,300,000
Pending
1637 N MAIN St, Jacksonville, FL 32206
Early twentieth-century commercial architecture in a walkable Jacksonville setting with bike and transit access.
Property Size8,862 SF
Days on Market7
Property Features for 1637 N MAIN St
General Information
Standard status
Pending
Size
8,862 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,832
Building Details
Building Size
8,862 SF
Year Built
1924
Listing Agency:
BELLE EPOQUE REALTY SERVICES LLC
Listed By:
THOMAS LOVE · License #3118560
(904) 382-7695
Source:
Elliman
Added: Sep 12
Changed: Sep 15
Last Checked: Sep 18 at 10:25AM
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
Investment Insights
Based on property information with market context.
This storefront property dates to 1924 and reflects the proportions and architectural character of an early twentieth-century commercial block. The building is located in Historic Springfield, close to downtown Jacksonville, and is offered for sale.
The surrounding setting supports multiple transportation options, with a Walk Score of 74, a BikeScore of 62, and a TransitScore of 54. The property is currently marketed as a coming soon listing, with no showings available at this time.
The surrounding setting supports multiple transportation options, with a Walk Score of 74, a BikeScore of 62, and a TransitScore of 54. The property is currently marketed as a coming soon listing, with no showings available at this time.
Key Highlights
- 1924‑built storefront property
- Located in Historic Springfield near downtown Jacksonville
- Early twentieth‑century commercial block architecture
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
$100,160
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
7.70%
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%
$2,003,200
$2.0M
Cap Rate 7%
$1,430,857
$1.4M
Cap Rate 9%
$1,112,889
$1.1M
Market Conditions
NOI Build-Up for 8,862 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
$159.5K $18.00/SF
− Vacancy
−$16.4K −$1.85/SF
EGI
$143.1K $16.15/SF
− OpEx
−$42.9K −$4.84/SF
NOI
$100.2K $11.30/SF
Area
Jacksonville, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,003,200
Cap Rate 7%
$1,430,857
Cap Rate 9%
$1,112,889
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.67M
NOI $100,160 @ 7.0% cap · market cap 7.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,938 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,903
Businesses Nearby
27k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 74%
Shops & Services 26%
Popeyes Louisiana Kitchen
Dining
6,592 visits/mo
0.2 miles
Krystal
Dining
5,252 visits/mo
0.3 miles
KFC
Dining
4,747 visits/mo
0.2 miles
76
Shops & Services
4,399 visits/mo
0.5 miles
Captain D's
Dining
3,563 visits/mo
0.4 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Storefront property - Early twentieth-century commercial architecture in a walkable Jacksonville setting with bike and transit access.
Where is this storefront property located?
The property is located at 1637 N MAIN St Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 1924‑built storefront property; Located in Historic Springfield near downtown Jacksonville; Early twentieth‑century commercial block architecture
