Normandy Blvd Mixed-Use
For Sale
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7002 Normandy Boulevard, Jacksonville, FL 32205
9,367 SF mixed-use redevelopment opportunity in Jacksonville, Florida.
Property Size9,367 SF
Price / SF$205
Days on Market81
Property Features for 7002 Normandy Boulevard
General Information
Standard status
Active
Size
9,367 SF
Property subtype
Retail
Zoning
Flexible CCG-1
Building Details
Year Built
1983
Listing Agency:
Sands Investment Group - FTL
Listed By:
Bralon Patterson · License #SL3636352
Source:
Crexi
Added: May 25
Changed: Aug 8
Last Checked: May 27 at 8:25AM
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 Sands Investment Group - FTL
Investment Insights
Based on property information with market context.
The 9,367 SF Normandy Mixed-Use Redevelopment Opportunity is located at 7002 Normandy Boulevard in Jacksonville, Florida. This property offers a value-add opportunity for an investor, owner-user, or redevelopment buyer looking to capitalize on the growth occurring throughout the West Jacksonville corridor. The property benefits from CCG-1 zoning, allowing for a variety of retail, medical, office, and service-oriented commercial uses, providing adaptability and long-term repositioning potential as surrounding development continues.
Key Highlights
- Redevelopment Opportunity: Ideal property for redevelopment in a rapidly growing West Jacksonville corridor.
- Value‑Add Potential: Presents a compelling value‑add opportunity for investors or owner‑users.
- Flexible Zoning: CCG‑1 zoning allows for a wide variety of retail, medical, office, and service‑oriented commercial 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
$123,644
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
6.44%
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%
$2,472,880
$2.5M
Cap Rate 7%
$1,766,343
$1.8M
Cap Rate 9%
$1,373,822
$1.4M
Market Conditions
NOI Build-Up for 9,367 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
$224.8K $24.00/SF
− Vacancy
−$27.0K −$2.88/SF
EGI
$197.8K $21.12/SF
− OpEx
−$74.2K −$7.92/SF
NOI
$123.6K $13.20/SF
Area
Jacksonville, FL
Vacancy
12.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,472,880
Cap Rate 7%
$1,766,343
Cap Rate 9%
$1,373,822
Alternative Uses
Best Use
Mixed Use
$1.77M
$1.55M – $2.06M
NOI $123,644 @ 7.0% cap · market cap 6.44%
Second Best
Retail
$1.51M
$1.32M – $1.76M
NOI $105,868 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$2.57M
$2.25M – $2.99M
NOI $179,622 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
314k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 40%
Dining 30%
Shops & Services 19%
Groceries 8%
Walmart
Superstores
126,964 visits/mo
0.3 miles
Aldi
Groceries
25,817 visits/mo
0.1 miles
Golden Corral
Dining
25,156 visits/mo
0.2 miles
Dollar Tree
Shops & Services
24,734 visits/mo
0.2 miles
Panda Express
Dining
20,490 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
Market
Vacancy Rate% for Retail in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 9,367 SF mixed-use redevelopment opportunity in Jacksonville, Florida.
Where is this mixed-use property located?
The property is located at 7002 Normandy Boulevard Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,920,235.
What are key features of this property?
This property features: Redevelopment Opportunity: Ideal property for redevelopment in a rapidly growing West Jacksonville corridor.; Value‑Add Potential: Presents a compelling value‑add opportunity for investors or owner‑users.; Flexible Zoning: CCG‑1 zoning allows for a wide variety of retail, medical, office, and service‑oriented commercial uses.
