Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    605 2Nd Ave Jacksonville Beach, FL 32250
    Back to Search
    Property profile & analytics

    605 2Nd Ave, Jacksonville Beach, FL 32250

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 605 2Nd Ave

    Year built
    1962
    Property type
    Land
    Property subtype
    Apartment buildings

    Description

    This beautifully renovated 1962 brick colonial quadplex in Jacksonville Beach, Florida, presents a unique investment opportunity. Located just six blocks from the ocean and two blocks from Beach Boulevard, this property boasts four spacious 1,100 square foot apartments, each featuring two bedrooms, a dining room, and one bathroom. Recent extensive renovations have restored this classic building to its original grandeur while incorporating modern updates in at least one ground floor unit. Improvements include a new asphalt roof, complete exterior refurbishing, entryway restoration, a new porch, and enhanced landscaping with added drip lines to the existing irrigation system. The property sits on a 6,098.4 square foot lot and is a two-story building. The four units provide significant rental income potential, making it an ideal investment for discerning buyers. This meticulously maintained property combines classic charm with modern amenities, ensuring its enduring appeal and strong return on investment. Its prime location and recent upgrades make this a truly exceptional opportunity to own a piece of Jacksonville Beach history. The asking price is $1,795,000. Don't miss this chance to acquire a highly desirable multifamily property in a thriving coastal community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville Beach
    County
    Duval
    State
    Florida
    Longitude
    -81.396
    Latitude
    30.2906

    Comparable in this City

    • Value Estimation by Request
      4,320 SF

      401 2nd S St

      APARTMENT HOUSE (5+ UNITS)
      401 2nd S St, Jacksonville Beach, FL 32250-6714
      View Details
    • Value Estimation by Request
      4,420 SF

      810 2nd N St

      APARTMENT HOUSE (5+ UNITS)
      810 2nd N St, Jacksonville Beach, FL 32250-7180
      View Details
    • Value Estimation
      $1,190,000
      9,692 SF

      803 5th S Ave

      APARTMENT HOUSE (5+ UNITS)
      803 5th S Ave, Jacksonville Beach, FL 32250-4321
      View Details
    • Value Estimation by Request
      3,738 SF

      20 1st S St

      APARTMENT HOUSE (5+ UNITS)
      20 1st S St, Jacksonville Beach, FL 32250-6863
      View Details
    • Value Estimation by Request
      4,420 SF

      910 2nd N St

      APARTMENT HOUSE (5+ UNITS)
      910 2nd N St, Jacksonville Beach, FL 32250-7189
      View Details
    • Value Estimation
      $535,000
      5,716 SF

      925 1st N Ave

      APARTMENT HOUSE (5+ UNITS)
      925 1st N Ave, Jacksonville Beach, FL 32250-4407
      View Details

    Similar Nearby for Sale

    • $1,585,000
      0.26 Acres

      Beachside Fourplex Investment Opportunity

      Fourplex near Jacksonville Beach with redevelopment potential.
      218 19Th Ave N, Jacksonville Beach, FL 32250
      View Details
    • $699,000
      Pending

      Marsh Front Lot with Slip

      Marsh front lot with deeded boat slip in Jacksonville.
      4125 Sunrise Cv Way, Jacksonville, FL 32250
      View Details
    • $1,600,000
      0.13 Acres

      Jacksonville Beach Land Opportunity

      Land with duplex structures in South Jacksonville Beach, Florida.
      2223 1St Ave S, Jacksonville Beach, FL 32250
      View Details
    • $1,200,000
      1,603 SF

      Jacksonville Beach Income Producing Duplex

      Renovated duplex with beach views on a corner lot.
      1334 1St Ave S, Jacksonville Beach, FL 32250
      View Details
    • Contact for pricing
      6,333 SF

      Luxury Coastal Investment Portfolio

      Three designer-appointed townhomes near Jacksonville Beach, fully furnished.
      921-925 2Nd Ave S, Jacksonville Beach, FL 32250
      View Details
    • New
      $825,000
      2,004 SF

      Renovated Duplex Near Jacksonville Beach

      Updated duplex featuring modern amenities, close to beach, shopping, dining.
      840 7Th Ave S, Jacksonville Beach, FL 32250
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Beach Side Corner Ground Lease

      Ground lease opportunity on high-traffic A1A/3rd St N.
      1709 3Rd Ave N, Jacksonville Beach, FL 32250
      View Details
    • Contact for pricing
      13,188 SF

      Retail Space on Beach Blvd

      Retail space available on high-traffic Beach Blvd near A1A.
      1202-1320 Beach Blvd, Jacksonville Beach, FL 32250
      View Details
    • Contact for pricing
      992 SF

      Move-in Ready Office Space

      Recently built-out office space with an open floorplan.
      2344-2348 3Rd St S, Jacksonville Beach, FL 32250
      View Details
    • Contact for pricing
      1,008 SF

      Jacksonville Beach Office Space

      1,008 SF office space in Jacksonville Beach for rent.
      1420 3Rd St N, Jacksonville Beach, FL 32250
      View Details
    • $1,595 /Mo
      697 SF

      Office Space in Jacksonville Beach

      Office space available for rent in Jacksonville Beach, Florida.
      1655 The Greens Way, Jacksonville Beach, FL 32250
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    605 2Nd Ave
    Jacksonville Beach, FL 32250
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    605 2Nd Ave, Jacksonville Beach, FL, 32250
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!