Renovated Concrete Block
For Sale
$475,000
45388 DIXIE Avenue, Callahan, FL 32011
Two-bedroom apartments feature updated interiors, individual storage, and carport parking.
Property Size1,904 SF
Lot Size0.50 Acres
Price / SF$249.47
Days on Market139
Property Features for 45388 DIXIE Avenue
General Information
Standard status
Active
Size
1,904 SF
Total Parking Spaces
2
Lot size
0.50 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
additional storage space for each unit
Building Details
Year Built
1960
Buildings
1
Construction
concrete block
Listing Agency:
ERA FERNANDINA BEACH REALTY
(904) 261-4011
Listed By:
Daniel Stewart
(310) 988-8268
Source:
Atlanticsaltrealty
Added: Jun 15
Changed: Oct 30
Last Checked: Oct 30 at 2:25PM
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 ERA FERNANDINA BEACH REALTY
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Investment Insights
Based on property information with market context.
This 1,904-square-foot duplex contains two apartments, each with two bedrooms and one bathroom. Concrete block construction, updated cabinetry and flooring, and remodeled living areas shape the units’ current configuration. Improvements were completed within the past two years, and each apartment has its own storage space; the property also includes two carports. City water and sewer serve the site. The building dates to 1960 and sits on half an acre.
The property is directly across from the historic Callahan Train Depot and near downtown Callahan. Schools, shopping, dining, and major commuter routes are also identified among the surrounding area’s amenities.
The property is directly across from the historic Callahan Train Depot and near downtown Callahan. Schools, shopping, dining, and major commuter routes are also identified among the surrounding area’s amenities.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- 1,904 square feet on half an acre
- Concrete block construction; built in 1960
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,872
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,440
$337.4K
Cap Rate 7%
$241,029
$241.0K
Cap Rate 9%
$187,467
$187.5K
Market Conditions
NOI Build-Up for 1,904 SF
Gross rent
$27.0K $14.16/SF
− Vacancy
−$2.9K −$1.50/SF
EGI
$24.1K $12.66/SF
− OpEx
−$7.2K −$3.80/SF
NOI
$16.9K $8.86/SF
Area
Nassau County, FL
Vacancy
10.60%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,440
Cap Rate 7%
$241,029
Cap Rate 9%
$187,467
Alternative Uses
Best Use
Multifamily LT 5
$241.0K
$210.9K – $281.2K
NOI $16,872 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$212.6K
$186.0K – $248.0K
NOI $14,882 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$507.9K
$444.4K – $592.5K
NOI $35,551 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Explore this area
Business Placement
Demographics for 32011, FL
15,678
Population
6,298
Households
2.5
Avg Household Size
41
Median Age
13%
College-Educated
84%
High-School Grad
168.5 sq mi
ZIP Area
93
Density / Sq Mi
$77,121
Median Household Income
$45,345
Median Earnings
$1,000
Median Rent
$234,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom apartments feature updated interiors, individual storage, and carport parking.
Where is this duplex located?
The property is located at 45388 DIXIE Avenue Callahan, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 1,904 square feet on half an acre; Concrete block construction; built in 1960
