Freestanding Retail Property on
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1964 Cassat Ave, Jacksonville, FL 32210
3,353 SF retail property with strong lease in Jacksonville.
Property Size3,353 SF
Price / SF$268.42
Days on Market217
Property Features for 1964 Cassat Ave
General Information
Standard status
Active
Size
3,353 SF
Property subtype
Industrial, Retail
Zoning
CCG-2
Building Details
Year Built
1970
Listing Agency:
Xera Realty Inc
Listed By:
Matt Demir · License #FL
Source:
Crexi
Added: Jan 28
Changed: Aug 8
Last Checked: Jul 22 at 12:24PM
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 Xera Realty Inc
Investment Insights
Based on property information with market context.
This 3,353 SF freestanding retail property is located at the signalized intersection of Cassat Ave and San Juan Ave in Jacksonville, Florida. The property benefits from high visibility and a combined Average Annual Daily Traffic (AADT) of approximately 51,600 vehicles. It is situated in one of Jacksonville’s busiest commercial corridors, surrounded by dense residential neighborhoods and a mix of national and local retailers. The property is backed by a long-term signed lease with Apex, providing dependable cash flow. This presents an attractive opportunity for investors seeking a secure, low-maintenance retail asset with strong visibility, solid tenancy, and consistent traffic.
Key Highlights
- Strong, long‑term lease with Apex provides immediate and dependable cash flow.
- Exceptional visibility at a signalized intersection with approximately 51,600 vehicles AADT.
- Freestanding 3,353 SF retail property.
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
$37,896
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
4.21%
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%
$757,920
$757.9K
Cap Rate 7%
$541,371
$541.4K
Cap Rate 9%
$421,067
$421.1K
Market Conditions
NOI Build-Up for 3,353 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
$60.4K $18.00/SF
− Vacancy
−$6.2K −$1.85/SF
EGI
$54.1K $16.15/SF
− OpEx
−$16.2K −$4.84/SF
NOI
$37.9K $11.30/SF
Area
ZIP 32210
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%
$757,920
Cap Rate 7%
$541,371
Cap Rate 9%
$421,067
Alternative Uses
Best Use
Retail
$541.4K
$473.7K – $631.6K
NOI $37,896 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$918.5K
$803.7K – $1.07M
NOI $64,297 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,126
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Dining 21%
Dollar Tree
Shops & Services
10,038 visits/mo
0.5 miles
Firehouse Subs
Dining
3,074 visits/mo
0.2 miles
Maaco
Shops & Services
753 visits/mo
0.4 miles
DriveTime Used Cars
Shops & Services
698 visits/mo
0.4 miles
Sunoco
Shops & Services
344 visits/mo
0.4 miles
Demographics for 32210, FL
66,415
Population
29,198
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
88%
High-School Grad
21.9 sq mi
ZIP Area
3,033
Density / Sq Mi
$58,215
Median Household Income
$36,997
Median Earnings
$1,205
Median Rent
$205,300
Median Home Value
Market
Vacancy Rate% for Retail in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 3,353 SF retail property with strong lease in Jacksonville.
Where is this retail space located?
The property is located at 1964 Cassat Ave Jacksonville, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Strong, long‑term lease with Apex provides immediate and dependable cash flow.; Exceptional visibility at a signalized intersection with approximately 51,600 vehicles AADT.; Freestanding 3,353 SF retail property.
