Are Jacksonville home prices expected to drop further?

Nobody can honestly promise a specific direction. Prices are down modestly year over year, not falling sharply, and the market is described as balanced to slightly seller-favoring by most current reporting — not a buyer's market in the way the term usually implies.

How many days does it actually take to buy a house in Jacksonville right now?

It depends heavily on the specific home. Current data shows a real split: well-priced homes in strong areas can go under contract in under two weeks, while others sit for three months or more. The citywide average sits somewhere in between and can be misleading on its own.

Is Jacksonville still a buyer's market or a seller's market?

Most current data puts it close to balanced, with a slight lean toward sellers overall — but this varies meaningfully by neighborhood and price point, which is why a citywide label only tells part of the story.

Should I wait for mortgage rates to drop before buying?

That's a real financial trade-off, not a simple yes or no — rates have actually trended up, not down, through this fall. A monthly-payment conversation based on your actual numbers is more useful than a guess about where rates go next.

5940 MERRILL Road, Jacksonville, FL 32277 (MLS# 2148757)

5940 MERRILL Road, Jacksonville, FL 32277

$375,000

Property Type: Commercial Sale Baths: 1 Square Footage: 1,892 Lot Size (sq. ft.): 10,890 Status: Active

Current Price: $375,000 List Date: 6/04/2026 Last Modified: 10/27/2026

Overview

Description

Prime commercial investment opportunity in Jacksonville's Arlington area! This freestanding retail property offers 1,892 square feet on approximately 0.25 acres, featuring CCG-1 commercial zoning, ample on-site parking, and prominent frontage along Merrill Road. Conveniently located within walking distance of Jacksonville University and surrounded by established retail, dining, and service businesses, this property presents an attractive opportunity for commercial real estate investors, developers, and owner-users. Whether you're seeking a retail property, professional business location, or a value-add commercial investment, this versatile site offers potential for a variety of permitted commercial uses, subject to zoning verification and applicable approvals.

Supplements: Zoning Description: The Commercial Community/General-1 (CCG-1) district allows for a wide range of professional, retail, and service establishments, including banks, offices, and indoor entertainment facilities. This versatile zoning also supports community-focused uses such as day care centers, churches, and art studios. Furthermore, certain speci ... (Read more)

Listing Details MLS# 2148757

General Property Information

Number Of Units Total: Yes
Bathrooms Total: Yes
Building Area Total: 1892
Building Area Source: Appraiser
Year Built: 1963
Lot Size Acres: 0.25
Land Lease YN: No
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Stories Total: Yes
Senior Community YN: No
Directions: From downtown Jacksonville take the Matthews Bridge (FL 115 S) to University Blvd N. Turn right on Merrill Road and drive .3 miles. The property will be on the right.
Public Remarks: Prime commercial investment opportunity in Jacksonville's Arlington area! This freestanding retail property offers 1,892 square feet on approximately 0.25 acres, featuring CCG-1 commercial zoning, ample on-site parking, and prominent frontage along Merrill Road. Conveniently located within walking distance of Jacksonville University and surrounded by established retail, dining, and service businesses, this property presents an attractive opportunity for commercial real estate investors, developers, and owner-users. Whether you're seeking a retail property, professional business location, or a value-add commercial investment, this versatile site offers potential for a variety of permitted commercial uses, subject to zoning verification and applicable approvals.
List Price/SqFt: 198.2

Property Features

Accessibility Features: Accessible Entrance Association Amenities: None Construction Materials: Concrete; Stucco Current Use: Commercial; Retail Existing Lease Type: NNN Fencing: Back Yard Heating: Electric Listing Terms: Cash; Conventional Lot Features: Cleared Parking Features: Parking Lot Possession: Subject To Tenant Rights Road Frontage Type: City Street Roof: Shingle Sale Includes: Building & Land Sewer: Public Sewer Utilities: Electricity Connected Water Source: Public

Contract Information

Listing Contract Date: 2026-06-04
Property Sub Type: Retail

Location Tax and Legal

Street Number: 5940
Street Name: MERRILL
Street Suffix: Road
County: Duval
State: FL
Postal Code: 32277
MLS Area Major: 041-Arlington

Status Change Information

Major Change Timestamp: 2026-07-17T18:47:05Z
Major Change Type: Status Change

Income and Expenses

Net Operating Income: 25200
Total Actual Rent: 2100

More Information

Unit 1 Details

Unit ID: 00
Annual Rent: 25200
Unit SqFt: 1892
# Units (This Type): Yes
Furnished: Unfurnished
Unit Remarks: na

Documents

Arlington Overlay Information ›

Listing Office: KELLER WILLIAMS ST JOHNS

Last Updated: October - 27 - 2026

Information deemed reliable but not guaranteed.

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Zelda Greenberg is a real estate agent affiliated with Legacy Realty Group North Florida, Inc., a licensed real estate brokerage that abides by equal housing opportunity laws. This is not intended to solicit property already listed. All material presented is intended for informational purposes only. Information is compiled from sources that are deemed reliable but subject to price changes, condition, sale, withdrawal, and errors & omissions.

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