Restaurant Building with Expansion
For Sale
$250,000
8019 Driggers Street Unit 8019, Jacksonville, FL 32220
Block construction property across four lots, with room for parking, expansion, or redevelopment.
Property Size1,500 SF
Lot Size0.51 Acres
Price / SF$166.67
Days on Market173
Property Features for 8019 Driggers Street Unit 8019
General Information
Standard status
Active
Size
1,500 SF
Lot size
0.51 Acres
Property subtype
General Commercial
Amenities
Shingle
Commercial
City Road.
Building Details
Year Built
1988
Buildings
1
Construction
block
Listing Agency:
(585) 749-4057
Listed By:
Howard Hanna
(585) 749-4057
Source:
Xome
Added: Mar 11
Changed: Aug 30
Last Checked: Aug 30 at 12:58PM
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 Howard Hanna
Investment Insights
Based on property information with market context.
Located at 8019 Driggers Street in Jacksonville, this 1,500-square-foot block construction building was built in 1988 and occupies four lots totaling 0.51 acres. The property formerly operated as a BBQ restaurant and retains a configuration suited to food service operations.
The substantial site provides room for parking, expansion, or redevelopment, while the building can also be adapted for other commercial uses. Its city-road setting and commercial improvements create a flexible restaurant-oriented property with additional land for future planning.
The substantial site provides room for parking, expansion, or redevelopment, while the building can also be adapted for other commercial uses. Its city-road setting and commercial improvements create a flexible restaurant-oriented property with additional land for future planning.
Key Highlights
- 1,500‑square‑foot block construction building built in 1988
- Four lots totaling 0.51 acres
- Former BBQ restaurant with existing food‑service setup
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
$22,356
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
8.94%
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%
$447,120
$447.1K
Cap Rate 7%
$319,371
$319.4K
Cap Rate 9%
$248,400
$248.4K
Market Conditions
NOI Build-Up for 1,500 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
$32.4K $21.60/SF
− Vacancy
−$2.6K −$1.73/SF
EGI
$29.8K $19.87/SF
− OpEx
−$7.5K −$4.97/SF
NOI
$22.4K $14.90/SF
Area
Jacksonville, FL
Vacancy
8.00%
Lease Rate
$21.60 /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%
$447,120
Cap Rate 7%
$319,371
Cap Rate 9%
$248,400
Alternative Uses
Best Use
Specialty Retail
$319.4K
$279.5K – $372.6K
NOI $22,356 @ 7.0% cap · market cap 8.94%
Second Best
Retail
$242.2K
$211.9K – $282.6K
NOI $16,953 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$410.9K
$359.6K – $479.4K
NOI $28,764 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
51k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Groceries 45%
Dining 7%
Home Improvements & Furnishings 1%
Rowe's IGA
Groceries
23,107 visits/mo
0.4 miles
Dollar General
Shops & Services
7,505 visits/mo
0.2 miles
AutoZone
Shops & Services
7,142 visits/mo
0.4 miles
Family Dollar
Shops & Services
5,382 visits/mo
0.4 miles
SUBWAY
Dining
3,629 visits/mo
0.3 miles
Demographics for 32220, FL
13,037
Population
5,223
Households
2.5
Avg Household Size
42
Median Age
18%
College-Educated
89%
High-School Grad
38.6 sq mi
ZIP Area
338
Density / Sq Mi
$80,236
Median Household Income
$41,243
Median Earnings
$1,188
Median Rent
$229,200
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?
Conventional restaurant - Block construction property across four lots, with room for parking, expansion, or redevelopment.
Where is this conventional restaurant located?
The property is located at 8019 Driggers Street Unit 8019 Jacksonville, FL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,500‑square‑foot block construction building built in 1988; Four lots totaling 0.51 acres; Former BBQ restaurant with existing food‑service setup
