Multifamily Property with
New
For Sale
$399,000
2554 TABERNACLE Place S, Jacksonville, FL 32207
Flexible multifamily property with grandfathered residential use and industrial business park zoning.
Property Size2,876 SF
Lot Size1.19 Acres
Days on Market4
Property Features for 2554 TABERNACLE Place S
General Information
Standard status
Active
Size
2,876 SF
Lot size
1.19 Acres
Property subtype
Multi Family
Zoning
IBP
Units
Unit Mix
1 x house, 2 x manufactured home
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,895
Building Details
Building Size
2,876 SF
Year Built
1953
Listing Agency:
FLORIDA HOMES REALTY & MTG LLC
Listed By:
JASON CROWE · License #3460077
(352) 220-2728
Source:
Bebetterflorida
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 18 at 9:40AM
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 FLORIDA HOMES REALTY & MTG LLC
Investment Insights
Based on property information with market context.
This 1.19-acre multifamily property includes 2,876 square feet of improvements, with one house, two manufactured homes, a detached garage with a small workshop, and an additional storage building. The manufactured homes date to 2002 and the 1970s. On-site parking is available across the property.
The parcel is zoned IBP, with multiple uses allowed under the IL designation and grandfathered residential use identified as 0810 Mixed Residential Use. Improvements include three power poles, three septic systems, and public water served through one meter. The property also includes a range of existing structures that may support continued residential occupancy, storage, workshop use, or future redevelopment, subject to applicable requirements.
The parcel is zoned IBP, with multiple uses allowed under the IL designation and grandfathered residential use identified as 0810 Mixed Residential Use. Improvements include three power poles, three septic systems, and public water served through one meter. The property also includes a range of existing structures that may support continued residential occupancy, storage, workshop use, or future redevelopment, subject to applicable requirements.
Key Highlights
- 1.19‑acre multifamily property with 2,876 square feet of improvements
- IBP zoning with multiple uses under the IL designation
- Grandfathered 0810 Mixed Residential Use
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
$21,278
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
5.33%
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%
$425,560
$425.6K
Cap Rate 7%
$303,971
$304.0K
Cap Rate 9%
$236,422
$236.4K
Market Conditions
NOI Build-Up for 2,876 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
$42.8K $14.88/SF
− Vacancy
−$4.1K −$1.43/SF
EGI
$38.7K $13.45/SF
− OpEx
−$17.4K −$6.05/SF
NOI
$21.3K $7.40/SF
Area
Jacksonville, FL
Vacancy
9.60%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$425,560
Cap Rate 7%
$303,971
Cap Rate 9%
$236,422
Alternative Uses
Best Use
Apartment 5plus
$304.0K
$266.0K – $354.6K
NOI $21,278 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$787.9K
$689.4K – $919.2K
NOI $55,150 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
Explore this area
Business Placement
Demographics for 32207, FL
36,207
Population
18,866
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
11.4 sq mi
ZIP Area
3,176
Density / Sq Mi
$60,875
Median Household Income
$45,478
Median Earnings
$1,139
Median Rent
$254,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Multifamily property - Flexible multifamily property with grandfathered residential use and industrial business park zoning.
Where is this multifamily property located?
The property is located at 2554 TABERNACLE Place S Jacksonville, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1.19‑acre multifamily property with 2,876 square feet of improvements; IBP zoning with multiple uses under the IL designation; Grandfathered 0810 Mixed Residential Use
