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    Dual-Suite Co-Living Condominium Title is generated by Realmo AI

    311 West Ashley Street, Jacksonville, FL 32202

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    Turnkey dual-suite unit with independent entry and separated utilities, supported by HOA-covered core operating services.

    Type:Multifamily, Hospitality, Business for Sale
    Property size:
    984 SF
    Price / SF:
    $294/SF
    Added:
    May 28, 2026
    Days on Market:
    12
    Last Refresh:
    Jun 6 at 2:14 am

    Property Features for 311 West Ashley Street

    General Information

    Standard status
    Active
    Size
    984 SF
    Property subtype
    Multifamily, Hospitality, Business for Sale

    Building Details

    Year Built
    1949

    We can help!

    Listing Contact
    Amber L'Esperance

    Listing agent Amber L'Esperance License #SL3370601

    Listing office JPAR City & Beach

    Listing date May 28, 2026

    Source Crexi

    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

    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
    • Financials: asking $289,900; NOI $22,209; cap rate 7.66% (pro‑forma cap 8.94%)
    • Year built 1949; positioned within Residences at City Place in downtown Jacksonville
    • Non‑warrantable condo status requires cash‑only or investor loan terms

    Overview

    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.
    Location Intelligence

    Current Use by Public Records

    Platinum Fitness Specialists Gym & Fitness Center Yes I will ... Wedding Service Hill Street Realty, ... Real Estate Agency City Place Condominium Complex Quality Painters of Jacksonville Painting Service

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Daycare Center Gym & Fitness Center Building Supply Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.660916
    Latitude
    30.3318337

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    FAQs

    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 West Ashley Street Jacksonville, FL.
    What is the asking price?
    The asking price for this property is $289,900.
    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
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Amber L'Esperance
    Real Estate License ID: SL3370601
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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