720 WALNUT Street, Green Cove Springs, FL 32043
Four 2-bed units with laundry hookups and off-street parking, supported by CBD zoning for residential or commercial conversions.
- Added:
- Jun 6, 2026
- Days on Market:
- 21
- Last Refresh:
- Jun 20 at 8:54 am
Property Features for 720 WALNUT Street
General Information
- Standard status
- Active
- Size
- 3,360 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1939
Listing office Community Realty Associates (561) 852-1341
Listing date Jun 6, 2026
Source Crexi
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 Community Realty Associates
HighLights
- Historic 1939 building with four 2‑bed/1‑bath units, each 840 SF
- CBD zoning supports multiple uses, including keeping as residential or converting to office/retail
- Laundry hookup in each unit plus two heat/AC wall units per unit
- Metal roof and vinyl siding; off‑street parking for 8
- Community front porch and picnic area for residents
- One unit vacant (Unit 2B) with new flooring and paint; 3 units occupied on month‑to‑month
Overview
The property is located in a Historic District and is described as walkable to Spring Park and the St. Johns River. The asset is positioned for buyers who want a conventional residential-style configuration while retaining flexibility through CBD zoning.
With CBD zoning, the property may support keeping the units as a residential multi-family asset or potentially converting to compatible uses such as professional office or retail. This makes the building well-suited for an owner-operator who wants an income-producing residential setup, as well as for a buyer evaluating future repositioning options under the site’s zoning classification.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.6k | $14.16 |
| − Vacancy | −$5.0k | −$1.50 |
| EGI | $42.5k | $12.66 |
| − OpEx | −$12.8k | −$3.80 |
| NOI | $29.8k | $8.86 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Green Cove Springs
- County
- Clay
- State
- Florida
- Longitude
- -81.6832509
- Latitude
- 29.9927489
