Storefront Property in CCG-1
For Sale
$375,000
5940 MERRILL Road, Jacksonville, FL 32277
COMMERCIAL - Jacksonville, FL
Property Size1,892 SF
Lot Size0.25 Acres
Price / SF$198.20
Days on Market92
Property Features for 5940 MERRILL Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking features
Parking Lot
Lot features
Cleared
Directions
From downtown Jacksonville take the Matthews Bridge (FL 115 S) to University Blvd N. Turn right on Merrill Road and drive .3 miles. The property will be on the right.
Subdivision
041-Arlington
Standard status
Active
APN
1161000000
Size
1,892 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4442
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1963
Floors in Building
1
Number of units
1
Building materials
Concrete, Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS ST JOHNS · Keller Williams Realty
(904) 867-7694
Listed By:
CHRISTINA WELCH · License #3186165
(904) 404-1640
Added: Jun 4
Changed: Aug 4
Last Checked: Sep 3 at 7:06PM
MLS# 2148757
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.
Storefront retail property at 5940 Merrill Road in Jacksonville, FL 32277, offering 0.25 acres and 1,892 square feet. The building is constructed with concrete and stucco and features electric heating and a shingle roof. Public water and public sewer are available, and the property includes on-site parking in a parking lot configuration. Built in 1963, the site is positioned for day-to-day access and customer visibility.
The property is described as being on a high-traffic thoroughfare with substantial street frontage and daily drive-by exposure. Its location is also noted as being just moments away from Jacksonville University.
Zoned Commercial Community/General-1 (CCG-1), the district supports a broad mix of retail and professional uses, including banks and offices, as well as indoor entertainment facilities. The remarks also note community-focused uses such as day care centers, churches, and art studios, with certain specialized operations (including multi-family residential units integrated with permitted uses or nightclubs) potentially allowed by exception.
The property is described as being on a high-traffic thoroughfare with substantial street frontage and daily drive-by exposure. Its location is also noted as being just moments away from Jacksonville University.
Zoned Commercial Community/General-1 (CCG-1), the district supports a broad mix of retail and professional uses, including banks and offices, as well as indoor entertainment facilities. The remarks also note community-focused uses such as day care centers, churches, and art studios, with certain specialized operations (including multi-family residential units integrated with permitted uses or nightclubs) potentially allowed by exception.
Key Highlights
- 0.25‑acre storefront site at 5940 Merrill Road
- 1,892 square feet with concrete and stucco construction
- CCG‑1 (Commercial Community/General‑1) zoning supporting retail and professional uses
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
$21,384
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
5.70%
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%
$427,680
$427.7K
Cap Rate 7%
$305,486
$305.5K
Cap Rate 9%
$237,600
$237.6K
Market Conditions
NOI Build-Up for 1,892 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
$34.1K $18.00/SF
− Vacancy
−$3.5K −$1.85/SF
EGI
$30.5K $16.15/SF
− OpEx
−$9.2K −$4.84/SF
NOI
$21.4K $11.30/SF
Area
Jacksonville, FL
Vacancy
10.30%
Lease Rate
$18.00 /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%
$427,680
Cap Rate 7%
$305,486
Cap Rate 9%
$237,600
Alternative Uses
Best Use
Retail
$305.5K
$267.3K – $356.4K
NOI $21,384 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$518.3K
$453.5K – $604.7K
NOI $36,281 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
481
Businesses Nearby
42k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 18%
Groceries 18%
Electronics 2%
Taco Bell
Dining
10,810 visits/mo
0.0 miles
Burger King
Dining
8,932 visits/mo
0.0 miles
ABC Fine Wine & Spirits
Groceries
7,478 visits/mo
0.2 miles
AutoZone
Shops & Services
7,209 visits/mo
0.2 miles
Pizza Hut
Dining
3,786 visits/mo
0.2 miles
Demographics for 32277, FL
33,174
Population
14,025
Households
2.4
Avg Household Size
35
Median Age
24%
College-Educated
90%
High-School Grad
7.2 sq mi
ZIP Area
4,608
Density / Sq Mi
$60,215
Median Household Income
$35,300
Median Earnings
$1,297
Median Rent
$256,600
Median Home Value
Market
Vacancy Rate% for Retail in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Storefront retail property with parking lot and CCG-1 zoning on Merrill Road in Jacksonville.
Where is this storefront property located?
The property is located at 5940 MERRILL Road Jacksonville, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 0.25‑acre storefront site at 5940 Merrill Road; 1,892 square feet with concrete and stucco construction; CCG‑1 (Commercial Community/General‑1) zoning supporting retail and professional uses
