Leased Strip Mall with Corporate
For Sale
Contact for pricing
1740 3rd St S, Jacksonville Beach, FL 32250
For sale strip mall with 11+ years remaining on a corporate lease and scheduled 10% rental increases.
Property Size6,405 SF
Price / SF$359.44
Days on Market152
Property Features for 1740 3rd St S
General Information
Standard status
Active
Size
6,405 SF
Property subtype
RETAIL
Listing Agency:
SRS Real Estate Partners | Fort Lauderdale
(954) 703-3600
Listed By:
Patrick Nutt · License #FL BK3120739
(954) 302-7365
Source:
Moodyscre
Added: Apr 8
Changed: Aug 11
Last Checked: Jul 22 at 2:40AM
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 SRS Real Estate Partners | Fort Lauderdale
Investment Insights
Based on property information with market context.
This for-sale strip mall is offered with an existing corporate lease in place. According to the public remarks, the lease has 11+ years remaining.
The offering also includes scheduled 10% rental increases. This combination of a long remaining term and step-up rent structure is designed to provide stable, lease-driven income over the hold period.
Additional property configuration details were not provided in the available information.
The offering also includes scheduled 10% rental increases. This combination of a long remaining term and step-up rent structure is designed to provide stable, lease-driven income over the hold period.
Additional property configuration details were not provided in the available information.
Key Highlights
- Strip mall with 11+ years remaining on a corporate lease
- Corporate lease with scheduled 10% rental increases
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
$73,843
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
3.21%
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%
$1,476,860
$1.5M
Cap Rate 7%
$1,054,900
$1.1M
Cap Rate 9%
$820,478
$820.5K
Market Conditions
NOI Build-Up for 6,405 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
$115.3K $18.00/SF
− Vacancy
−$9.8K −$1.53/SF
EGI
$105.5K $16.47/SF
− OpEx
−$31.6K −$4.94/SF
NOI
$73.8K $11.53/SF
Area
Duval County, FL
Vacancy
8.50%
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%
$1,476,860
Cap Rate 7%
$1,054,900
Cap Rate 9%
$820,478
Alternative Uses
Best Use
Retail
$1.05M
$923.0K – $1.23M
NOI $73,843 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.49M – $1.99M
NOI $119,594 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,170
Businesses Nearby
1k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Public Storage
Shops & Services
1,067 visits/mo
0.4 miles
Demographics for 32250, FL
30,080
Population
14,935
Households
2
Avg Household Size
43
Median Age
53%
College-Educated
95%
High-School Grad
9.0 sq mi
ZIP Area
3,342
Density / Sq Mi
$111,553
Median Household Income
$55,396
Median Earnings
$1,805
Median Rent
$526,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - For sale strip mall with 11+ years remaining on a corporate lease and scheduled 10% rental increases.
Where is this strip mall located?
The property is located at 1740 3rd St S Jacksonville Beach, FL.
What is the asking price?
The asking price for this property is $2,302,200.
What are key features of this property?
This property features: Strip mall with 11+ years remaining on a corporate lease; Corporate lease with scheduled 10% rental increases
