Commercial Property on Lem
For Sale
$325,000
10420 Lem Turner Rd, Jacksonville, FL 32218
Versatile commercial property with dual lots in Jacksonville, Florida.
Property Size1,324 SF
Price / SF$245.47
Days on Market360
Property Features for 10420 Lem Turner Rd
General Information
Standard status
Active
Size
1,324 SF
Property subtype
Commercial
Building Details
Year Built
1980
Listing Agency:
ONE REALTY CORP
Listed By:
PHILLIP POE · License #3600114
(904) 438-8980
Source:
Myfirstcoasthomesearch
Added: Sep 16, 2025
Changed: Sep 8
Last Checked: Sep 9 at 8:06PM
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 ONE REALTY CORP
Investment Insights
Based on property information with market context.
This commercial property, located at 10420 Lem Turner Rd in Jacksonville, FL, includes an adjacent lot at 10414 Lem Turner Rd. The combined properties offer 0.71 acres of commercial space. Zoned CCG-2, the property is located in a high-traffic area. The primary building is in excellent condition and currently operates as a salon suite and hair store. A detached garage is included, along with abundant parking. The flexible CCG-2 zoning allows for various commercial applications, including retail shops and specialty stores, restaurants and food services such as cafes, diners, or take-out spots, auto sales and services including a car lot, auto repair, or car wash, or even a storage facility hub for cars, boats, or RVs.
Key Highlights
- 0.71 acres of prime commercial space with dual lots on high‑traffic Lem Turner Rd.
- CCG‑2 zoning allows for a wide range of commercial applications.
- Primary building is in excellent condition and currently operates as a salon suite and hair store.
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
$14,964
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
4.60%
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%
$299,280
$299.3K
Cap Rate 7%
$213,771
$213.8K
Cap Rate 9%
$166,267
$166.3K
Market Conditions
NOI Build-Up for 1,324 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
$23.8K $18.00/SF
− Vacancy
−$2.5K −$1.85/SF
EGI
$21.4K $16.15/SF
− OpEx
−$6.4K −$4.84/SF
NOI
$15.0K $11.30/SF
Area
ZIP 32218
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$299,280
Cap Rate 7%
$213,771
Cap Rate 9%
$166,267
Alternative Uses
Best Use
Retail
$213.8K
$187.1K – $249.4K
NOI $14,964 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$353.2K
$309.0K – $412.0K
NOI $24,722 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Home Improvements & Furnishings 10%
Family Dollar
Shops & Services
6,168 visits/mo
0.4 miles
Jacksonville Self Storage
Shops & Services
1,289 visits/mo
0.5 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
808 visits/mo
0.3 miles
Demographics for 32218, FL
67,040
Population
27,895
Households
2.4
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
96.7 sq mi
ZIP Area
693
Density / Sq Mi
$68,363
Median Household Income
$37,322
Median Earnings
$1,416
Median Rent
$260,300
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 Retail in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Versatile commercial property with dual lots in Jacksonville, Florida.
Where is this retail space located?
The property is located at 10420 Lem Turner Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 0.71 acres of prime commercial space with dual lots on high‑traffic Lem Turner Rd.; CCG‑2 zoning allows for a wide range of commercial applications.; Primary building is in excellent condition and currently operates as a salon suite and hair store.
