Multifamily Property with
For Sale
$399,000
2554 TABERNACLE Place S, Jacksonville, FL 32207
Residential Income, Jacksonville, FL
Property Size2,876 SF
Lot Size1.19 Acres
Price / SF$138.73
Days on Market132
Property Features for 2554 TABERNACLE Place S
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Commercial
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 9, Bedroom 6, Bedroom 8, Bedroom 4, Bedroom 7, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 2, Bathroom 1, Bathroom 2
Parking features
Garage
Fencing
Chain Link, Fenced, Privacy
Appliances
Electric Range, Refrigerator, Washer
Subdivision
Lawson
Lot features
Cleared
Directions
North Phillips Highway, West on Reba Street, South on Victor Street
Standard status
Active
APN
1472930000
Size
2,876 SF
Lot size
1.19 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2895
Utilities
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Amenities
garage
workshop
storage building
Building Details
Year built
1953
Number of units
3
Flooring type
Laminate
Listing Agency:
FLORIDA HOMES REALTY & MTG LLC
(904) 996-9115
Listed By:
JASON CROWE · License #3460077
(352) 220-2728
Added: May 12
Changed: Sep 16
Last Checked: Sep 20 at 6:06AM
MLS# 2165133
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property includes 1.19 acres with 2,876 square feet of improvements. The site contains three structures: a house, a double-car garage with a small workshop, and a separate storage building. Two manufactured homes are also present, including one built in 2002 and another dating to the 1970s. Residential features include laminate flooring, central heating and cooling, an electric range, refrigerator, and washer.
The property is zoned IBP (Industrial Business Park) and has 3 power poles, 3 septic systems, and city water through one meter. Parking is available across the lot, while fencing includes privacy and chain-link sections. The existing layout combines residential improvements with accessory structures and provides a substantial site for continued multifamily use or future property changes supported by the zoning and existing improvements.
The property is zoned IBP (Industrial Business Park) and has 3 power poles, 3 septic systems, and city water through one meter. Parking is available across the lot, while fencing includes privacy and chain-link sections. The existing layout combines residential improvements with accessory structures and provides a substantial site for continued multifamily use or future property changes supported by the zoning and existing improvements.
Key Highlights
- 1.19‑acre multifamily property with 2,876 square feet of improvements
- IBP (Industrial Business Park) zoning
- Three structures: house, double‑car garage with workshop, and storage building
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
Mixed Use
$542.3K
$474.5K – $632.7K
NOI $37,963 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$304.0K
$266.0K – $354.6K
NOI $21,278 @ 7.0% cap · market cap 5.33%
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - IBP-zoned property with multiple structures, residential improvements, and utility infrastructure serving the site.
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 (Industrial Business Park) zoning; Three structures: house, double‑car garage with workshop, and storage building
