648 E UNION Street, Jacksonville, FL (MLS# 732274)

$4,600,000

648 E UNION Street
Jacksonville, FL
MLS# 732274
Status: Closed

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Property Description
Downtown is on fire! Tons of potential and added value in unique commercial property with over 7 acres and over 400,000 gross square feet in 7 buildings in the urban core. Property has easy access to major interstates, thriving urban core, professional sports complex, Tallyrand, shipping, rail, and cultural centers. This property is an iconic Jacksonville landmark. The main building is concrete and steel construction built in 1914 with truck friendly loading docks, ample parking, 11 freight elevators, sprinkler system, water tower, partial fencing, offices, 4 stories with basement. The six other buildings are a mix of brick, concrete, metal, and stucco. Current occupancy rate hovers around 95%.

Details

Location, Tax, and Legal

Parcel Number: 1220920000

Additional Parcels YN: Yes

General Property Information

Lot Size Acres: 7.8

Number Of Units Total: 64

Water Body Access YN: No

Waterfront YN: No

Directions: downtown under the Matthew's bridge, corner of Ionia and E. Union St.

Public Remarks: Downtown is on fire! Tons of potential and added value in unique commercial property with over 7 acres and over 400,000 gross square feet in 7 buildings in the urban core. Property has easy access to major interstates, thriving urban core, professional sports complex, Tallyrand, shipping, rail, and cultural centers. This property is an iconic Jacksonville landmark. The main building is concrete and steel construction built in 1914 with truck friendly loading docks, ample parking, 11 freight elevators, sprinkler system, water tower, partial fencing, offices, 4 stories with basement. The six other buildings are a mix of brick, concrete, metal, and stucco. Current occupancy rate hovers around 95%.

Building Area Total: 366946

Stories Total: 4

Building Area Source: Plans

List Price/SqFt: 12.81

Sold Price/SqFt: 12.54

Year Built: 1913

Construction Materials

Brick: 1

Frame: 1

Cooling

Window Unit(s): 1

Current Use

Commercial: 1

Hotel/Motel: 1

Industrial: 1

Investment: 1

Multi-Family: 1

Office: 1

Recreational: 1

Retail: 1

Other: 1

Fencing

Chain Link: 1

Flooring

Concrete: 1

Heating

Central: 1

Electric: 1

Separate Meters: 1

Listing Terms

Cash: 1

Conventional: 1

Owner May Carry: 1

Private Financing Available: 1

Lot Features

Historic Area: 1

Other: 1

Owner Pays

Exterior Maintenance: 1

Insurance: 1

Roof Maintenance: 1

Taxes: 1

Parking Features

Attached: 1

On Street: 1

Secured: 1

Unassigned: 1

Other: 1

Possession

Subject To Tenant Rights: 1

Security Features

Security Lights: 1

Sewer

Public Sewer: 1

Tenant Pays

All Utilities: 1

Janitorial Service: 1

Utilities

Cable Available: 1

Separate Electric Meters: 1

Other: 1

Water Source

Public: 1

Building Features

Columns: 1

Elevator: 1

Fenced: 1

Outside Storage: 1

Business Type

Business Park: 1

Construction/Contractor: 1

Professional/Office: 1

Existing Lease Type

Net: 1

Operating Expense Includes

Accounting: 1

Insurance: 1

Legal: 1

Licenses: 1

Maintenance: 1

New Tax: 1

Supplies: 1

Waterfront Features

Creek: 1

Historical Information

Public Historical Remarks 1: Road Surface: Concrete Road, Lot Location-Downtown: Y, Historic Building: Y, Loading Truck Level: Y, Multi-Tenant: Y, HVAC-Office: Y, Lot Description-Water Access: Y, Tenant Expenses-Signage: Y, Approx. Total SqFt: 330822.00, Number of Units: 51 - 75 Units, Column Spacing: 9 - 20 Feet

Public Historical Remarks 2: Lot Location-Urban/City: Y, Occupancy Rate: 95, Fenced Partial: Y, Number of Buildings: 7+ Bldgs, Ceiling Height: 10' - 12' Ceilings,12' - 14' Ceilings

Public Historical Remarks 3: Current Zoning: CRO

Contract Information

Current Price: $4,600,000

Sold Price: $4,600,000

Status: Closed

Listing Contract Date: 2014-08-13

Property Sub Type: Mixed Use

Location Tax and Legal

Street Number: 648

Street Direction Prefix: E

Street Name: UNION

Street Suffix: Street

County: Duval

State: FL

MLS Area Major: 072-Springfield

Status Change Information

Major Change Timestamp: 2023-11-20T12:59:19Z

Major Change Type: Price Reduced

Price Change Timestamp: 2017-03-28T17:13:55Z

Purchase Contract Date: 2018-07-30

Close Date: 2018-12-12

Close Price: 4600000

Property Features

Building Features: Columns; Elevator; Fenced; Outside Storage

Business Type: Business Park; Construction/Contractor; Professional/Office

Construction Materials: Brick; Frame

Cooling: Window Unit(s)

Current Use: Commercial; Hotel/Motel; Industrial; Investment; Multi-Family; Office; Recreational; Retail; Other

Existing Lease Type: Net

Fencing: Chain Link

Flooring: Concrete

Heating: Central; Electric; Separate Meters

Listing Terms: Cash; Conventional; Owner May Carry; Private Financing Available

Lot Features: Historic Area; Other

Operating Expense Includes: Accounting; Insurance; Legal; Licenses; Maintenance; New Tax; Supplies

Owner Pays: Exterior Maintenance; Insurance; Roof Maintenance; Taxes

Parking Features: Attached; On Street; Secured; Unassigned; Other

Possession: Subject To Tenant Rights

Security Features: Security Lights

Sewer: Public Sewer

Tenant Pays: All Utilities; Janitorial Service

Utilities: Cable Available; Separate Electric Meters; Other

Water Source: Public

Waterfront Features: Creek

Supplements

Property is perfect for light industrial, mechanical, retail, distribution, warehouse, microbrewery, athletic/cultural/arts center, office, multi-family conversion, or any number of potential special uses. Land is zoned CRO according to tax records. Sellers say to bring all offers! Confidentiality agreement is required before showing property. Listing agent must be present for all showings. Contact listing agent for more information and financial info.

Listing Office: WATSON REALTY CORP

Last Updated: December - 18 - 2024

Information deemed reliable but not guaranteed.