Listed by CBRE - Jacksonville
Unpriced
Jefferson Way
Details
APN 40-04-25-020877-000-00
Property Type Multifamily
Sub Type Apartment Building
Units 56
Cap Rate 7.00%
Occupancy 95%
Tenancy Multi
Year Built 1987
Stories 7
Acreage 3.860
Zoning PUD
Parking Spaces 112 spaces
Investment Type Value Add
Multifamily | 56 Units
Marketing description
CBRE, as the exclusive listing agent, is proud to offer Jefferson Way, a 56-unit, single-story, walk-up apartment community located in the desirable Orange Park submarket of Jacksonville, Florida. Strategically positioned at 409 Jefferson Avenue, just north of Blanding Boulevard, Jefferson Way provides residents with exceptional convenience to schools, retail, and HCA Florida Orange Park Hospital, all within a short distance.
Investment highlights
- Deal Room: https://www.cbredealflow.com/handler/modern.aspx?pv=M4QqgtOPS-Q9m91juO610d7do7nS6IkRxNkEmcGA1iJM3_C9S-ta5IMbBRvRAkC_faUqrh1v6QU_eugXqbRFhA
- Excellent historical collections: The property has historically been above 95% occupancy with near-perfect collections. Resident turnover is extremely low as the single-story, walk-up style provides a unique option for the area, especially for the older demographic.
- Strong in-place cap rate: Using pro forma expenses of $5,675/unit, the property is being offered above a 7.0% cap rate, higher than where similar-sized and vintage assets have sold as of late in North Florida.
- Supply-constrained area: With clay county’s high regulatory barriers to entry and only one multifamily project slated for development, this area is primed to bounce back quickly from the recent supply glut, paving the way for strong long-term rent growth.
- Superior retention rate: The property historically sees over 70% of the tenants renew at the end of their lease term, evidence as to the unique product type for the area. Jefferson way is one of two single-story market rate apartment communities in clay county.
Listing Contacts
Listed by CBRE - Jacksonville
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Zoning
PUD PlannedPlanned Unit Development
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View all 12 uses Last updated Feb 3, 2026 For deeper zoning details, reports are available at Zoneomics
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