Triplex Income Property with Occupied
For Sale
$275,000
Pending
5549 HICKSON Rd, Jacksonville, FL 32207
A padsplit-style triplex with two currently occupied units, offering an income-oriented setup for an incoming owner.
Property Size1,878 SF
Days on Market52
Property Features for 5549 HICKSON Rd
General Information
Standard status
Pending
Size
1,878 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,436
Building Details
Building Size
1,878 SF
Year Built
1968
Stories
1
Units
3
Listing Agency:
EAB RE Investments
(904) 370-3797
Listed By:
DANIEL RUSSO
Source:
Elliman
Added: Jun 23
Changed: Aug 8
Last Checked: Jul 24 at 2:22PM
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 EAB RE Investments
Investment Insights
Based on property information with market context.
This triplex income property is already configured as a PadSplit-style rental. Two units are currently occupied, giving a next owner immediate occupancy on part of the building while leaving room to realize value from the remaining unit. The property is presented as a ready-to-operate housing setup rather than one requiring a start-from-scratch approach.
The address is 5549 Hickson Rd in Jacksonville, FL. Public remarks note convenient access to dining and grocery options and proximity described as minutes from San Marco Square, along with commute-friendly access to major highways. Bike, walk, and transit scores are also provided: BikeScore 75 (Very Bikeable), WalkScore 55 (Somewhat Walkable), and TransitScore 32 (Some Transit).
For investors, the key practical takeaway is that the building is set up for rental use, with two units already occupied. For buyers seeking a flexible residential income structure, the current occupancy can help offset some early operating ramp-up, while the third unit offers an opportunity to bring the full property into consistent rental performance under the same overall rental setup.
The address is 5549 Hickson Rd in Jacksonville, FL. Public remarks note convenient access to dining and grocery options and proximity described as minutes from San Marco Square, along with commute-friendly access to major highways. Bike, walk, and transit scores are also provided: BikeScore 75 (Very Bikeable), WalkScore 55 (Somewhat Walkable), and TransitScore 32 (Some Transit).
For investors, the key practical takeaway is that the building is set up for rental use, with two units already occupied. For buyers seeking a flexible residential income structure, the current occupancy can help offset some early operating ramp-up, while the third unit offers an opportunity to bring the full property into consistent rental performance under the same overall rental setup.
Key Highlights
- 1968‑built padsplit‑style triplex set up for income from day one
- Two units currently occupied, providing an incoming owner a head start
- Third unit remains available to optimize monthly income potential
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
$17,634
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
6.41%
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%
$352,680
$352.7K
Cap Rate 7%
$251,914
$251.9K
Cap Rate 9%
$195,933
$195.9K
Market Conditions
NOI Build-Up for 1,878 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
$27.7K $14.76/SF
− Vacancy
−$2.5K −$1.35/SF
EGI
$25.2K $13.41/SF
− OpEx
−$7.6K −$4.02/SF
NOI
$17.6K $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%
$352,680
Cap Rate 7%
$251,914
Cap Rate 9%
$195,933
Alternative Uses
Best Use
Multifamily LT 5
$251.9K
$220.4K – $293.9K
NOI $17,634 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$198.5K
$173.7K – $231.6K
NOI $13,894 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$514.5K
$450.2K – $600.2K
NOI $36,013 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,673
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - A padsplit-style triplex with two currently occupied units, offering an income-oriented setup for an incoming owner.
Where is this triplex located?
The property is located at 5549 HICKSON Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1968‑built padsplit‑style triplex set up for income from day one; Two units currently occupied, providing an incoming owner a head start; Third unit remains available to optimize monthly income potential
