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1123-1131 3rd St N 4,405 SF Retail Building Jacksonville Beach, FL 32250 $1,600,000 ($363.22/SF) 8% Cap Rate
Investment Highlights
- Located on the east side of 3rd Street North, a heavily trafficked coastal corridor in Jacksonville Beach.
- 4,405-square-foot building offered with in-place income and immediate value-add potential.
- 23 on-site parking spaces provide a competitive advantage in the beach market.
- Flexible JC-1 zoning accommodates medical office or neighborhood-scale retail uses.
- Prominent pylon signage and dual access points enhance street visibility and accessibility.
- Long-established location near major retail, dining, and beach amenities with strong year-round demand.
Executive Summary
Prime location in Jacksonville Beach- located on the East side ( ocean side) of heavily trafficked 3rd St. Easy access with 2 points of entry! A trophy asset that needs some attention with various property updates and marketing of the vacant space. Sellers have owned for 31 years and are ready for new ownership. Currently has 23 parking spots and a sign pole for the tenants with great visibility. One of the tenants requires very little parking as it caters seafood boils. They occupy 1,000 s.f. at $30 per s.f. on a gross lease. Lease expires 8/28 with 3% annual increases. The other tenant is a chiropractor who occupies 1,400 s.f. at $28 per s.f. on a gross lease. Lease expires 4/30 with 3% annual increases.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$149,200
|
$33.87
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$149,200
|
$33.87
|
| Taxes |
$12,200
|
$2.77
|
| Operating Expenses |
$8,936
|
$2.03
|
| Total Expenses |
$21,136
|
$4.80
|
| Net Operating Income |
$128,064
|
$29.07
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $149,200 |
| Annual Per SF | $33.87 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $149,200 |
| Annual Per SF | $33.87 |
| Taxes | |
|---|---|
| Annual | $12,200 |
| Annual Per SF | $2.77 |
| Operating Expenses | |
|---|---|
| Annual | $8,936 |
| Annual Per SF | $2.03 |
| Total Expenses | |
|---|---|
| Annual | $21,136 |
| Annual Per SF | $4.80 |
| Net Operating Income | |
|---|---|
| Annual | $128,064 |
| Annual Per SF | $29.07 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,405 SF
Building Class
C
Year Built
1963
Price
$1,600,000
Price Per SF
$363.22
Cap Rate
8%
NOI
$128,064
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.36
Lot Size
0.28 AC
Zoning
JC-1 - mix of neighborhood-level commercial, office, and residential uses. It is specifically designed to provide localized, pedestrian-friendly goods and services without drawing heavy, auto-oriented, or industrial traffic
Parking
10 Spaces (2.27 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Jax Seafood Boil
- Retailer
- 1,000 SF
- $30.00
- Plus Electric
- Jul 2028
- Smith Chiropractic
- Retailer
- 1,400 SF
- $28.00
- Plus Electric
- Apr 2030
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Jax Seafood Boil | Retailer | 1,000 SF | $30.00 | Plus Electric | Jul 2028 | |
| Smith Chiropractic | Retailer | 1,400 SF | $28.00 | Plus Electric | Apr 2030 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 174571-0000 | Total Assessment | $676,900 |
| Land Assessment | $552,447 | Annual Taxes | $12,200 ($2.77/SF) |
| Improvements Assessment | $124,453 | Tax Year | 2026 Payable 2027 |
Property Taxes
Parcel Number
174571-0000
Land Assessment
$552,447
Improvements Assessment
$124,453
Total Assessment
$676,900
Annual Taxes
$12,200 ($2.77/SF)
Tax Year
2026 Payable 2027
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1123-1131 3rd St N