Historic Mixed-Use
New
For Sale
$375,000
2223 HERSCHEL St A, Jacksonville, FL 32204
Commercial and residential zoning supports office, residential, or live-work use with rear parking.
Property Size1,166 SF
Days on Market6
Property Features for 2223 HERSCHEL St A
General Information
Standard status
Active
Size
1,166 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,609
Building Details
Building Size
1,166 SF
Year Built
1916
Construction
Craftsman
Listing Agency:
BETTER HOMES & GARDENS REAL ESTATE LIFESTYLES REALTY
(904) 612-3950
Listed By:
TERESA DAVIS
Source:
Elliman
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 30 at 10:52PM
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 BETTER HOMES & GARDENS REAL ESTATE LIFESTYLES REALTY
Investment Insights
Based on property information with market context.
Constructed in 1916, this Craftsman-style property combines historic character with a flexible mixed-use profile. The building has operated as a professional office for 43 years and is zoned for both commercial and residential use. Its configuration supports continued office occupancy as well as residential or creative live-work applications, subject to applicable requirements.
The property is located in Jacksonville near Five Points, the Riverside Arts Market, St. Vincent's Hospital, Downtown, and EverBank Stadium. Walk Score is 72, Bike Score is 63, and Transit Score is 36. Rear parking and a high-and-dry setting add practical site features.
The property is located in Jacksonville near Five Points, the Riverside Arts Market, St. Vincent's Hospital, Downtown, and EverBank Stadium. Walk Score is 72, Bike Score is 63, and Transit Score is 36. Rear parking and a high-and-dry setting add practical site features.
Key Highlights
- 1916 construction with Craftsman‑style architecture
- Zoned for both commercial and residential use
- Used as a professional office for 43 years
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
$16,769
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
4.47%
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%
$335,380
$335.4K
Cap Rate 7%
$239,557
$239.6K
Cap Rate 9%
$186,322
$186.3K
Market Conditions
NOI Build-Up for 1,166 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
$28.0K $24.00/SF
− Vacancy
−$5.6K −$4.82/SF
EGI
$22.4K $19.18/SF
− OpEx
−$5.6K −$4.79/SF
NOI
$16.8K $14.38/SF
Area
Jacksonville, FL
Vacancy
20.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$335,380
Cap Rate 7%
$239,557
Cap Rate 9%
$186,322
Alternative Uses
Best Use
Office B
$239.6K
$209.6K – $279.5K
NOI $16,769 @ 7.0% cap · market cap 4.47%
Second Best
Mixed Use
$219.9K
$192.4K – $256.5K
NOI $15,391 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$319.4K
$279.5K – $372.7K
NOI $22,359 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,270
Businesses Nearby
Explore this area
Business Placement
Demographics for 32204, FL
8,673
Population
5,342
Households
1.6
Avg Household Size
39
Median Age
41%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
3,212
Density / Sq Mi
$54,462
Median Household Income
$47,872
Median Earnings
$1,132
Median Rent
$342,700
Median Home Value
Market
Vacancy Rate% for Office in Jacksonville, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential zoning supports office, residential, or live-work use with rear parking.
Where is this mixed-use property located?
The property is located at 2223 HERSCHEL St A Jacksonville, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1916 construction with Craftsman‑style architecture; Zoned for both commercial and residential use; Used as a professional office for 43 years
