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.

622 CASSAT Avenue, Jacksonville, FL 32205 (MLS# 2170495)

622 CASSAT Avenue, Jacksonville, FL 32205

$2,550,000

Property Type: Commercial Sale Square Footage: 12,639 Lot Size (sq. ft.): 39,204 Status: Active

Current Price: $2,550,000 List Date: 10/22/2026 Last Modified: 10/22/2026

Overview

Description

Fully leased multi-tenant retail asset strategically positioned at the intersection of I-10 and Cassat Avenue in West Jacksonville. The approximately 12,236 SF property is 100% occupied by seven tenants, providing investors with a diversified and established income stream from day one. Property generates approximately $171,109 in annual NOI, representing an attractive 6.70% cap rate. The property benefits from excellent visibility and accessibility along Cassat Avenue, immediately adjacent to the I-10 interchange. I-10 carries approximately 136,000 vehicles per day, providing significant exposure and convenient connectivity to Downtown Jacksonville, surrounding employment centers, and the greater Jacksonville market. A prominent pylon sign along Cassat Avenue further enhances tenant visibility and identification.

Listing Details MLS# 2170495

General Property Information

Building Area Total: 12639
Year Built: 1985
Lot Size Acres: 0.9
Waterfront YN: No
Directions: From I-10 W, take the Cassat Ave exit. Turn left onto Cassat. Property will be on the right.
Public Remarks: Fully leased multi-tenant retail asset strategically positioned at the intersection of I-10 and Cassat Avenue in West Jacksonville. The approximately 12,236 SF property is 100% occupied by seven tenants, providing investors with a diversified and established income stream from day one. Property generates approximately $171,109 in annual NOI, representing an attractive 6.70% cap rate. The property benefits from excellent visibility and accessibility along Cassat Avenue, immediately adjacent to the I-10 interchange. I-10 carries approximately 136,000 vehicles per day, providing significant exposure and convenient connectivity to Downtown Jacksonville, surrounding employment centers, and the greater Jacksonville market. A prominent pylon sign along Cassat Avenue further enhances tenant visibility and identification.
List Price/SqFt: 201.76

Property Features

Existing Lease Type: NNN Listing Terms: Cash; Conventional Lot Features: Corner Lot Parking Features: Parking Lot; Unassigned Possession: Close Of Escrow; Subject To Tenant Rights Road Frontage Type: City Street; Highway Sale Includes: Building & Land

Contract Information

Listing Contract Date: 2026-10-01
Property Sub Type: Retail

Location Tax and Legal

Street Number: 622
Street Name: CASSAT
Street Suffix: Avenue
County: Duval
State: FL
Postal Code: 32205
MLS Area Major: 052-Lakeshore

Status Change Information

Major Change Timestamp: 2026-10-22T20:04:34Z
Major Change Type: New Listing

More Information

Listing Office: PETRA MANAGEMENT INC.

Last Updated: October - 22 - 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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