Multi-Tenant Shopping
New
For Sale
$2,550,000
622 CASSAT Ave, Jacksonville, FL 32205
Seven occupied retail suites share a prominent pylon sign near the I-10 interchange.
Property Size12,639 SF
Price / SF$208.40
Days on Market1
Property Features for 622 CASSAT Ave
General Information
Standard status
Active
Size
12,639 SF
Property subtype
Commercial
Occupancy
100%
Net Operating Income
$171,109
Site & Location
Neighborhood
Edgewood
Pylon Signage
Yes
Traffic Count
136,000 vehicles/day
Highway Access
Yes
Additional Details
Cap Rate
6.7%
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$23,328
Building Details
Building Size
12,639 SF
Year Built
1985
Tenancy
Multi
Listing Agency:
Petra
Listed By:
ELIAS HIONIDES · License #3246517
(904) 894-6620
Source:
Elliman
Added: Oct 23
Last Checked: Oct 23 at 3:35PM
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 Petra
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Investment Insights
Based on property information with market context.
This 12,236-square-foot shopping center, built in 1985, contains seven tenant spaces and is fully occupied. Its multi-tenant configuration brings several retail operators together in one property, with a pylon sign along Cassat Avenue identifying the center and its tenants.
The property sits at Cassat Avenue and I-10, beside the interstate interchange. I-10 carries approximately 136,000 vehicles per day and connects the site with Downtown Jacksonville, employment centers, and the broader Jacksonville market. The center is 100% occupied and has a 6.70% cap rate.
The property sits at Cassat Avenue and I-10, beside the interstate interchange. I-10 carries approximately 136,000 vehicles per day and connects the site with Downtown Jacksonville, employment centers, and the broader Jacksonville market. The center is 100% occupied and has a 6.70% cap rate.
Key Highlights
- 12,236 SF shopping center with seven tenants
- 100% occupied
- 6.70% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,294
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,765,880
$2.8M
Cap Rate 7%
$1,975,629
$2.0M
Cap Rate 9%
$1,536,600
$1.5M
Market Conditions
NOI Build-Up for 12,236 SF
Gross rent
$220.2K $18.00/SF
− Vacancy
−$22.7K −$1.85/SF
EGI
$197.6K $16.15/SF
− OpEx
−$59.3K −$4.84/SF
NOI
$138.3K $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 Rate 5%
$2,765,880
Cap Rate 7%
$1,975,629
Cap Rate 9%
$1,536,600
Alternative Uses
Best Use
Retail
$1.98M
$1.73M – $2.30M
NOI $138,294 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.35M
$2.93M – $3.91M
NOI $234,638 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
136,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
309k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 29%
Home Improvements & Furnishings 13%
Groceries 11%
Lowe's
Home Improvements & Furnishings
39,443 visits/mo
0.2 miles
Wawa
Shops & Services
34,862 visits/mo
0.4 miles
Winn-Dixie
Groceries
33,318 visits/mo
0.4 miles
Marshalls
Apparel
29,018 visits/mo
0.4 miles
McDonald's
Dining
25,905 visits/mo
0.4 miles
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Shopping center - Seven occupied retail suites share a prominent pylon sign near the I-10 interchange.
Where is this shopping center located?
The property is located at 622 CASSAT Ave Jacksonville, FL.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 12,236 SF shopping center with seven tenants; 100% occupied; 6.70% cap rate
