Dual-Suite Co-Living
For Sale
Contact for pricing
311 W ASHLEY Street 305 A&B, Jacksonville, FL 32202
Turnkey dual-suite unit with independent entry and separated utilities, supported by HOA-covered core operating services.
Property Size984 SF
Price / SF$274.39
Days on Market87
Property Features for 311 W ASHLEY Street 305 A&B
General Information
Standard status
Active
Size
984 SF
Class
B
Property subtype
Multifamily, Land
Zoning
CCBD
Investment Type
Stabilized
Net Operating Income
$22,209
Financials
Cap Rate
7.66%
Business Included
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1949
Year Renovated
2024
Buildings
1
Stories
1
Units
2
Listing Agency:
JPAR City & Beach
Listed By:
Amber L'Esperance · License #SL3370601
Source:
Crexi
Added: May 28
Changed: Aug 14
Last Checked: Aug 20 at 5:18AM
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 JPAR City & Beach
Investment Insights
Based on property information with market context.
Residences at City Place Unit #305 offers a highly unique, custom-engineered dual-suite layout that stands alone in the building. The property has been meticulously renovated from top to bottom with high-end, durable finishes and is offered turnkey, fully furnished, and ready for immediate transfer. Each suite is designed to function independently, with separate keyless entryways, separate smart-climate zones, and fully separated electric meters.
Positioned in downtown Jacksonville, the unit sits in the path of ongoing growth described around Gateway Jax and the Pearl Square revitalization project. The listing also notes proximity to the Federal Courthouse, as well as CSX/VyStar and nearby medical hubs such as UF Health. A major operational benefit is the HOA fee, which covers water, sewer, trash, pest control, 24/7 building security, and structural building insurance.
This configuration is well-suited for tenant demand from high-end corporate relocation clients, federal legal professionals, Fortune 500 executives, and traveling healthcare professionals. From an operator’s standpoint, the HOA coverage helps create predictable overhead, while the dual, separately metered setup supports independent suite functionality. Please note the asset is a non-warrantable condo, requiring cash-only or investor loan purchase terms.
Positioned in downtown Jacksonville, the unit sits in the path of ongoing growth described around Gateway Jax and the Pearl Square revitalization project. The listing also notes proximity to the Federal Courthouse, as well as CSX/VyStar and nearby medical hubs such as UF Health. A major operational benefit is the HOA fee, which covers water, sewer, trash, pest control, 24/7 building security, and structural building insurance.
This configuration is well-suited for tenant demand from high-end corporate relocation clients, federal legal professionals, Fortune 500 executives, and traveling healthcare professionals. From an operator’s standpoint, the HOA coverage helps create predictable overhead, while the dual, separately metered setup supports independent suite functionality. Please note the asset is a non-warrantable condo, requiring cash-only or investor loan purchase terms.
Key Highlights
- Dual‑suite Unit #305 (standing alone in the building) with custom‑engineered layout and independent keyless entryways
- Separate smart‑climate zones and fully separated electric meters for each suite
- HOA covers water, sewer, trash, pest control, 24/7 building security, and structural building insurance
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
$9,239
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
3.42%
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%
$184,780
$184.8K
Cap Rate 7%
$131,986
$132.0K
Cap Rate 9%
$102,656
$102.7K
Market Conditions
NOI Build-Up for 984 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
$14.5K $14.76/SF
− Vacancy
−$1.3K −$1.35/SF
EGI
$13.2K $13.41/SF
− OpEx
−$4.0K −$4.02/SF
NOI
$9.2K $9.39/SF
Area
Jacksonville, FL
Vacancy
9.12%
Lease Rate
$14.76 /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%
$184,780
Cap Rate 7%
$131,986
Cap Rate 9%
$102,656
Alternative Uses
Best Use
Multifamily LT 5
$132.0K
$115.5K – $154.0K
NOI $9,239 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$104.0K
$91.0K – $121.3K
NOI $7,280 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$269.6K
$235.9K – $314.5K
NOI $18,869 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,330
Businesses Nearby
Explore this area
Business Placement
Demographics for 32202, FL
6,544
Population
2,789
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
78%
High-School Grad
2.0 sq mi
ZIP Area
3,272
Density / Sq Mi
$40,070
Median Household Income
$30,938
Median Earnings
$1,024
Median Rent
$229,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey dual-suite unit with independent entry and separated utilities, supported by HOA-covered core operating services.
Where is this duplex located?
The property is located at 311 W ASHLEY Street 305 A&B Jacksonville, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Dual‑suite Unit #305 (standing alone in the building) with custom‑engineered layout and independent keyless entryways; Separate smart‑climate zones and fully separated electric meters for each suite; HOA covers water, sewer, trash, pest control, 24/7 building security, and structural building insurance
