Renovated 8-Unit Apartment
For Sale
$899,000
82 W 32ND St, Jacksonville, FL 32206
Two-story property with matching one-bedroom layouts and separate electric and water service for each unit.
Property Size4,588 SF
Days on Market10
Property Features for 82 W 32ND St
General Information
Standard status
Active
Size
4,588 SF
Property subtype
Commercial
Occupancy
100%
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$7,128
Building Details
Building Size
4,588 SF
Year Built
1926
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
COLDWELL BANKER ANABASIS REALTY
Listed By:
TREY HAGINS
(843) 301-6486
Source:
Elliman
Added: Sep 14
Changed: Sep 18
Last Checked: Sep 22 at 5:24PM
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 COLDWELL BANKER ANABASIS REALTY
Investment Insights
Based on property information with market context.
This fully occupied apartment property contains 8 renovated units, each configured with 1 bedroom and 1 bathroom across a two-story layout. The units share a consistent design, and electric and water service are separately metered for each residence. The property was built in 1926 and has undergone renovation.
The address places the complex near downtown Jacksonville, retail, and grocery options. Walk Score is 49, BikeScore is 43, and Transit Score is 38, reflecting access supported by walking, biking, and transit options to varying degrees.
The address places the complex near downtown Jacksonville, retail, and grocery options. Walk Score is 49, BikeScore is 43, and Transit Score is 38, reflecting access supported by walking, biking, and transit options to varying degrees.
Key Highlights
- 8‑unit apartment complex
- Fully occupied property with long‑term, on‑time‑paying tenants
- All units renovated with matching 1 bedroom, 1 bathroom layouts
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
$33,944
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
3.78%
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%
$678,880
$678.9K
Cap Rate 7%
$484,914
$484.9K
Cap Rate 9%
$377,156
$377.2K
Market Conditions
NOI Build-Up for 4,588 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
$68.3K $14.88/SF
− Vacancy
−$6.6K −$1.43/SF
EGI
$61.7K $13.45/SF
− OpEx
−$27.8K −$6.05/SF
NOI
$33.9K $7.40/SF
Area
Jacksonville, FL
Vacancy
9.60%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$678,880
Cap Rate 7%
$484,914
Cap Rate 9%
$377,156
Alternative Uses
Best Use
Apartment 5plus
$484.9K
$424.3K – $565.7K
NOI $33,944 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $87,979 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
697
Businesses Nearby
Explore this area
Business Placement
Demographics for 32206, FL
18,283
Population
9,415
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
82%
High-School Grad
6.2 sq mi
ZIP Area
2,949
Density / Sq Mi
$37,585
Median Household Income
$34,353
Median Earnings
$866
Median Rent
$153,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story property with matching one-bedroom layouts and separate electric and water service for each unit.
Where is this apartment building located?
The property is located at 82 W 32ND St Jacksonville, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 8‑unit apartment complex; Fully occupied property with long‑term, on‑time‑paying tenants; All units renovated with matching 1 bedroom, 1 bathroom layouts
