1602 Walnut StJacksonville, FL 32206

Property Details for 1602 Walnut St

Year built

1926

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.04 AC

Property size (Sq ft)

1,222 SF

Zone code

CN-S

Property type

Turn key restaurants

APN

072304-0100

APU

723040100

Description

This exceptional 4,000 square foot retail space, located at the prominent corner of 6th and Walnut Streets in Historic Springfield, presents a unique opportunity for a discerning business owner. The single-tenant property sits on a 0.08-acre lot and boasts a charming, historic character, ideal for a restaurant or café. The space is fully furnished and ready for immediate occupancy, eliminating the need for extensive renovations or setup. Rent is $5,000 per month (plus applicable sales tax and operating expenses), with additional rent based on annual sales exceeding $750,000. Ample street parking ensures convenient access for customers and employees. A significant advantage is the inclusion of a tranquil Zen Garden and an Event Room within the rental price, providing unique amenities to enhance the business and potentially expand service offerings. The property's prime corner location offers excellent visibility and foot traffic, making it an attractive proposition for a variety of businesses seeking a move-in ready, historically significant space with added outdoor and event space. This is a rare opportunity to secure a fully furnished, turn-key retail space in a desirable historic district.

• CAP approach

  CAP return

  Valuation

  6%

  $324,509

  6.5%

  $299,547

  7%

  $278,151

• Comparable approach

  Method

  Valuation

  Relative Method

  $209,433

  Geo Method

  $209,433

• Alternative Use

  Use

  Valuation

  Residential

  $252,679

  Hospitality

  $231,453

  Educational

  $192,566

  Medical

  $199,188

  Retail

  $299,547

Location Insight

City

Jacksonville

County

Duval

State

Florida

Latitude

30.3427

Longitude

-81.6483

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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