Flex Warehouse Space
For Sale
Contact for pricing
10220 New Kings Rd, Jacksonville, FL 32219
17,062 sqft flex warehouse space for sale.
Property Size17,062 SF
Price / SF$157.95
Days on Market143
Property Features for 10220 New Kings Rd
General Information
Standard status
Active
Size
17,062 SF
Class
B
Property subtype
Industrial
Zoning
CCG-2
Listing Agency:
ACRE Expert LLC
Listed By:
Drew Attias · License #Florida
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 8 at 6:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ACRE Expert LLC
Investment Insights
Based on property information with market context.
This property features a 17,062 sqft flex warehouse located at 10220 New Kings Rd, Jacksonville, FL 32219, in Duval County. It is suitable for commercial real estate, industrial, and warehouse use.
Key Highlights
- 17,062 sqft Flex Warehouse
- Located at 10220 New Kings Rd, Jacksonville, FL 32219
- Situated in Duval County
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
$185,652
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
6.89%
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%
$3,713,040
$3.7M
Cap Rate 7%
$2,652,171
$2.7M
Cap Rate 9%
$2,062,800
$2.1M
Market Conditions
NOI Build-Up for 17,062 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
$307.1K $18.00/SF
− Vacancy
−$21.5K −$1.26/SF
EGI
$285.6K $16.74/SF
− OpEx
−$100.0K −$5.86/SF
NOI
$185.7K $10.88/SF
Area
Jacksonville, FL
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$3,713,040
Cap Rate 7%
$2,652,171
Cap Rate 9%
$2,062,800
Alternative Uses
Best Use
Flex RnD
$2.65M
$2.32M – $3.09M
NOI $185,652 @ 7.0% cap · market cap 6.89%
Second Best
Industrial
$1.35M
$1.19M – $1.58M
NOI $94,807 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$4.67M
$4.09M – $5.45M
NOI $327,181 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32219, FL
14,474
Population
5,780
Households
2.5
Avg Household Size
39
Median Age
22%
College-Educated
86%
High-School Grad
71.5 sq mi
ZIP Area
202
Density / Sq Mi
$65,104
Median Household Income
$37,410
Median Earnings
$1,348
Median Rent
$205,100
Median Home Value
Market
Vacancy Rate% for Industrial in Jacksonville, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 17,062 sqft flex warehouse space for sale.
Where is this flex space located?
The property is located at 10220 New Kings Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: 17,062 sqft Flex Warehouse; Located at 10220 New Kings Rd, Jacksonville, FL 32219; Situated in Duval County
