Mixed-Use Flex
For Sale
$1,500,000
711 Cassat Avenue Jacksonville, Jacksonville, FL 32205
Versatile flex-style property with off-street parking and frontage on Cassat Avenue for retail, office, or light industrial use.
Property Size6,909 SF
Price / SF$217.11
Days on Market54
Property Features for 711 Cassat Avenue Jacksonville
General Information
Standard status
Active
Size
6,909 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,477
Amenities
Concrete
Yes
No
Chain Link,Privacy,Wood
Corner Lot
Public
0.53
Off Street,Parking Lot,Unassigned
City Street
Building Details
Year Built
2003
Listing Agency:
(904) 569-5862
Listed By:
Morgan Friesen
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 7
Changed: Aug 28
Last Checked: Aug 29 at 6:24AM
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 Morgan Friesen
Investment Insights
Based on property information with market context.
711 Cassat Avenue is a flex-style commercial property presented for sale with a spacious layout designed to support multiple business types. The site is described as offering flexibility for retail, office, or industrial use, and it includes off-street parking to support both customers and employees.
The property is positioned prominently on Cassat Avenue, with visibility and accessibility highlighted as key advantages. The surrounding area is described as a well-established mix of residential and commercial amenities, including shopping centers, restaurants, and schools, creating a neighborhood that can support a variety of day-to-day uses. The offering also notes accessibility to major highways.
This asset is best suited for an owner-user or investor seeking a flexible commercial footprint that can be adapted to changing operational needs. Its practical combination of frontage, on-site parking, and a layout suited to retail, office, or industrial environments can make it a straightforward choice for tenants or buyers looking for a single property that can accommodate more than one concept.
The property is positioned prominently on Cassat Avenue, with visibility and accessibility highlighted as key advantages. The surrounding area is described as a well-established mix of residential and commercial amenities, including shopping centers, restaurants, and schools, creating a neighborhood that can support a variety of day-to-day uses. The offering also notes accessibility to major highways.
This asset is best suited for an owner-user or investor seeking a flexible commercial footprint that can be adapted to changing operational needs. Its practical combination of frontage, on-site parking, and a layout suited to retail, office, or industrial environments can make it a straightforward choice for tenants or buyers looking for a single property that can accommodate more than one concept.
Key Highlights
- 0.53‑acre corner lot with frontage on Cassat Avenue (city street) in Jacksonville, FL
- Year built 2003
- Heating and air conditioning available
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
$99,365
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
6.62%
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%
$1,987,300
$2.0M
Cap Rate 7%
$1,419,500
$1.4M
Cap Rate 9%
$1,104,056
$1.1M
Market Conditions
NOI Build-Up for 6,909 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
$165.8K $24.00/SF
− Vacancy
−$33.3K −$4.82/SF
EGI
$132.5K $19.18/SF
− OpEx
−$33.1K −$4.79/SF
NOI
$99.4K $14.38/SF
Area
Jacksonville, FL
Vacancy
20.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,987,300
Cap Rate 7%
$1,419,500
Cap Rate 9%
$1,104,056
Alternative Uses
Best Use
Office B
$1.42M
$1.24M – $1.66M
NOI $99,365 @ 7.0% cap · market cap 6.62%
Second Best
Retail
$1.12M
$976.1K – $1.30M
NOI $78,087 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$1.89M
$1.66M – $2.21M
NOI $132,487 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
961
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile flex-style property with off-street parking and frontage on Cassat Avenue for retail, office, or light industrial use.
Where is this flex space located?
The property is located at 711 Cassat Avenue Jacksonville Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 0.53‑acre corner lot with frontage on Cassat Avenue (city street) in Jacksonville, FL; Year built 2003; Heating and air conditioning available
