Renovated
For Sale
$274,900
Pending
1645 West 17th Street, Jacksonville, FL 32209
Three distinct residences offer options for owner occupancy, leasing, or multigenerational use.
Property Size1,907 SF
Days on Market94
Property Features for 1645 West 17th Street
General Information
Standard status
Pending
Size
1,907 SF
Property subtype
Residential Income / Triplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Amenities
Central Air, Wall/Window Unit(s), Common, Yes
Central, Varies by Unit, Yes
3
4
3.0
Yes
MLS
No
Building Details
Year Built
1947
Units
3
Listing Agency:
PRESTIGE IMMO REALTY LLC
(321) 460-2033
Listed By:
Dominique Delcourt · License #3242481
(321) 460-2033
Source:
Compass
Added: Jun 1
Changed: Aug 31
Last Checked: Aug 31 at 12:48AM
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 PRESTIGE IMMO REALTY LLC
Investment Insights
Based on property information with market context.
This renovated triplex at 1645 West 17th Street includes three separate living units within a 1,907-square-foot property built in 1947. The configuration supports multiple occupancy approaches, including living in one residence while leasing the other two, leasing all three units, or accommodating extended family. Central air and other cooling equipment are provided, with systems varying by unit.
The property is near Downtown Jacksonville and provides access to major highways, shopping, dining, and medical facilities. A spacious lot includes room for RV parking with power hookups already in place. The site may also accommodate an accessory dwelling unit, subject to applicable zoning and permitting requirements.
The property is near Downtown Jacksonville and provides access to major highways, shopping, dining, and medical facilities. A spacious lot includes room for RV parking with power hookups already in place. The site may also accommodate an accessory dwelling unit, subject to applicable zoning and permitting requirements.
Key Highlights
- Three separate living units in a renovated triplex
- 1,907 square feet; built in 1947
- RV parking area with existing power hookups
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
$17,906
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
6.51%
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%
$358,120
$358.1K
Cap Rate 7%
$255,800
$255.8K
Cap Rate 9%
$198,956
$199.0K
Market Conditions
NOI Build-Up for 1,907 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
$28.1K $14.76/SF
− Vacancy
−$2.6K −$1.35/SF
EGI
$25.6K $13.41/SF
− OpEx
−$7.7K −$4.02/SF
NOI
$17.9K $9.39/SF
Area
Jacksonville, FL
Vacancy
9.12%
Lease Rate
$14.76 /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%
$358,120
Cap Rate 7%
$255,800
Cap Rate 9%
$198,956
Alternative Uses
Best Use
Multifamily LT 5
$255.8K
$223.8K – $298.4K
NOI $17,906 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$201.6K
$176.4K – $235.2K
NOI $14,109 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$522.4K
$457.1K – $609.5K
NOI $36,569 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,859
Businesses Nearby
Explore this area
Business Placement
Demographics for 32209, FL
36,656
Population
17,706
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
82%
High-School Grad
9.3 sq mi
ZIP Area
3,942
Density / Sq Mi
$29,468
Median Household Income
$26,435
Median Earnings
$1,042
Median Rent
$92,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct residences offer options for owner occupancy, leasing, or multigenerational use.
Where is this triplex located?
The property is located at 1645 West 17th Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Three separate living units in a renovated triplex; 1,907 square feet; built in 1947; RV parking area with existing power hookups
