Renovated Flex Space with
For Sale
$735,000
5352 HIGHWAY, Jacksonville, FL 32254
Commercial Sale, Jacksonville, FL
Property Size4,240 SF
Lot Size0.41 Acres
Price / SF$173.35
Days on Market76
Property Features for 5352 HIGHWAY
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Industrial
Parking features
Secured, Gated
Security features
Security
Lot features
Cleared
Directions
295N to I-10 E. take exit 357 for FL-103 N/Lane Ave. to Hwy Avenue then left.
Subdivision
074-Paxon
Standard status
Active
APN
0593190030
Size
4,240 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Annual Amount
6898
Utilities
Water source
Public
Listing Agency:
GREEN PALM REALTY & PROPERTY MANAGEMENT
(904) 625-6807
Listed By:
PAULA BUZETA · License #SL3250911
(904) 240-2152
Added: Jul 6
Changed: Sep 12
Last Checked: Sep 19 at 1:06AM
MLS# 2154031
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,240-square-foot flex property in Jacksonville combines customer-facing and operational areas within a light industrial setting. The layout includes a storefront for displays and reception, three offices totaling approximately 1,760 square feet of heated and cooled space, a 2,480-square-foot warehouse, and two separate bathrooms. A 10-foot-high roll-up garage door supports warehouse access.
The property occupies 0.41 acres in West Jacksonville’s commercial and industrial area, with convenient access to I-10 and proximity to 295. The site is fully fenced, secured by a sliding front gate, and provides 15 parking spaces along the front. Building improvements include updated electrical and plumbing, refreshed interior and exterior finishes, and a 2024 roof. Public water service is available.
The property occupies 0.41 acres in West Jacksonville’s commercial and industrial area, with convenient access to I-10 and proximity to 295. The site is fully fenced, secured by a sliding front gate, and provides 15 parking spaces along the front. Building improvements include updated electrical and plumbing, refreshed interior and exterior finishes, and a 2024 roof. Public water service is available.
Key Highlights
- 4,240‑square‑foot flex property with storefront, offices, warehouse, and two separate bathrooms
- Three heated and cooled offices totaling approximately 1,760 sqft
- 2,480 sqft warehouse with a 10' high rollup garage door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$60,980
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,219,600
$1.2M
Cap Rate 7%
$871,143
$871.1K
Cap Rate 9%
$677,556
$677.6K
Market Conditions
NOI Build-Up for 4,240 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$101.8K $24.00/SF
− Vacancy
−$20.5K −$4.82/SF
EGI
$81.3K $19.18/SF
− OpEx
−$20.3K −$4.79/SF
NOI
$61.0K $14.38/SF
Area
Jacksonville, FL
Vacancy
20.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,219,600
Cap Rate 7%
$871,143
Cap Rate 9%
$677,556
Alternative Uses
Best Use
Office B
$871.1K
$762.3K – $1.02M
NOI $60,980 @ 7.0% cap · market cap 8.30%
Second Best
Flex RnD
$659.1K
$576.7K – $768.9K
NOI $46,135 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,306 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32254, FL
14,545
Population
6,331
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
73%
High-School Grad
12.4 sq mi
ZIP Area
1,173
Density / Sq Mi
$36,449
Median Household Income
$29,443
Median Earnings
$1,111
Median Rent
$85,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated flex space combines storefront reception, offices, warehouse area, and secured gated parking.
Where is this flex space located?
The property is located at 5352 HIGHWAY Jacksonville, FL.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 4,240‑square‑foot flex property with storefront, offices, warehouse, and two separate bathrooms; Three heated and cooled offices totaling approximately 1,760 sqft; 2,480 sqft warehouse with a 10' high rollup garage door
