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1492 Kings Rd, Jacksonville, FL 32209

$202,000 After Repair Value -
$100,000 Asking Price -
$60,000 Cost of Repairs =
$42,000 Potential Profit

Property Details

Asking Price $100,000

After Repair Value $202,000

Costs of Repairs $60,000

Potential Profit $42,000

Living Area 4266 ft2

Property Type Commercial Property

Bedrooms 0

Bathrooms 0

Half Bathrooms N/A

Parking 0

Listed with Agent 1

EPI (Estimated Potential Income)

Potential Rental Income $3,100

Yearly Expenses $5,500

Property Taxes $1,100

Net Operating Income $37,000

Cap Rate 15%

Property Description

THIS IS A STEAL! LARGE HISTORIC BUILDING, PART OF THE JACKSONVILLE REDEVELOPMENT DISTRICT. PREVIOUSLY HOUSED A THRIVING HAIR SALON AND A BEAUTY SUPPLY STORE, IN ADJACENT PORTION OF THE SAME BUILDING. GIVING YOU THE ABILITY TO ADD MORE THAN ONE BUSINESS. LOCATED IN THE HEART OF DOWNTOWN AND CLOSE TO THE EDWARD WATERS COLLEGE. ESTIMATED GROSS MONTHLY RENTAL AT $36,000 ANNUALLY WHICH WILL ALSO PUT YOU AT A 15% CAP RATE.

Repairs Needed

IT NEEDS TO BE REHABBED TO YOUR SPECIFICATIONS. PREVIOUS OWNERS HAD SEPARATE BUILDINGS FOR THEIR BUSINESSES. YOU CAN DIVIDE OR MAKE IT ONE WHOLE BUILDING.

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