Multi-tenant Retail
For Sale
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1906 Parental Home Rd, Jacksonville, FL 32216
Fully operational multi-tenant retail property built in 1958 at 1906 Parental Home Rd in Jacksonville’s Southside area.
Property Size7,656 SF
Price / SF$156.74
Days on Market58
Property Features for 1906 Parental Home Rd
General Information
Standard status
Active
Size
7,656 SF
Total Parking Spaces
20
Property subtype
Retail
Zoning
CCG-2
Occupancy
100%
Investment Type
Stabilized
Building Details
Year Built
1958
Year Renovated
2015
Stories
1
Tenancy
Multi
Listing Agency:
Watson Commercial Realty Inc
Listed By:
Paul J. Reed, P.A. · License #FL 3332794
(904) 316-7433
Source:
Crexi
Added: Jul 22
Changed: Sep 15
Last Checked: Sep 16 at 4:35PM
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 Watson Commercial Realty Inc
Investment Insights
Based on property information with market context.
This fully operational multi-tenant retail property provides a retail space configuration designed for multiple tenants. The property totals 7,656 SF and was built in 1958.
Located at 1906 Parental Home Rd in Jacksonville, Florida 32216, the building is positioned along the Southside corridor.
For retail users evaluating a multi-tenant environment, the key considerations include the existing tenant-ready nature of the property and the building’s established size and vintage.
Located at 1906 Parental Home Rd in Jacksonville, Florida 32216, the building is positioned along the Southside corridor.
For retail users evaluating a multi-tenant environment, the key considerations include the existing tenant-ready nature of the property and the building’s established size and vintage.
Key Highlights
- 7,656 SF multi‑tenant retail space
- Fully operational multi‑tenant configuration
- Built in 1958
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
$86,530
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
7.21%
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%
$1,730,600
$1.7M
Cap Rate 7%
$1,236,143
$1.2M
Cap Rate 9%
$961,444
$961.4K
Market Conditions
NOI Build-Up for 7,656 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
$137.8K $18.00/SF
− Vacancy
−$14.2K −$1.85/SF
EGI
$123.6K $16.15/SF
− OpEx
−$37.1K −$4.84/SF
NOI
$86.5K $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%
$1,730,600
Cap Rate 7%
$1,236,143
Cap Rate 9%
$961,444
Alternative Uses
Best Use
Retail
$1.24M
$1.08M – $1.44M
NOI $86,530 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,811 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
424
Businesses Nearby
13k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
8,169 visits/mo
0.1 miles
Chevron
Shops & Services
4,365 visits/mo
0.1 miles
Demographics for 32216, FL
42,847
Population
19,796
Households
2.2
Avg Household Size
37
Median Age
32%
College-Educated
92%
High-School Grad
12.7 sq mi
ZIP Area
3,374
Density / Sq Mi
$63,253
Median Household Income
$44,078
Median Earnings
$1,311
Median Rent
$244,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Retail space - Fully operational multi-tenant retail property built in 1958 at 1906 Parental Home Rd in Jacksonville’s Southside area.
Where is this retail space located?
The property is located at 1906 Parental Home Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 7,656 SF multi‑tenant retail space; Fully operational multi‑tenant configuration; Built in 1958
