Newer Quadplex with Four Leased
For Sale
$725,000
6535 SWEETBAY Ln 20, Jacksonville, FL 32244
Four-unit quadplex built in 2023, fully leased, with vinyl plank flooring and in-unit washer and dryer hookups.
Property Size4,104 SF
Days on Market72
Property Features for 6535 SWEETBAY Ln 20
General Information
Standard status
Active
Size
4,104 SF
Property subtype
Investment
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,837
Building Details
Building Size
4,104 SF
Year Built
2023
Units
4
Listing Agency:
RE/MAX UNLIMITED
(904) 465-3140
Listed By:
LARA HOFFMAN · License #0685714
Source:
Elliman
Added: Jun 22
Changed: Aug 24
Last Checked: Aug 30 at 8:47PM
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 RE/MAX UNLIMITED
Investment Insights
Based on property information with market context.
Constructed in 2023, this fully leased quadplex consists of four residential units designed with open floor plans and vinyl plank flooring throughout, with no carpet. Each unit includes washer and dryer hookups for convenient in-home laundry, and the interiors feature cherry cabinetry with a large center island, granite countertops, and stainless appliances. The primary suite in one unit includes a walk-in closet and a walk-in shower.
The property is located close to NAS JAX, as well as schools and shopping, supporting everyday convenience for residents.
For investors or buyers looking for a turnkey residential income building, the quadplex is currently fully leased with property management already in place for the tenants. The combination of newer construction, modern finishes, and four active leases can simplify onboarding for an owner who wants to step into an operating, occupied asset.
The property is located close to NAS JAX, as well as schools and shopping, supporting everyday convenience for residents.
For investors or buyers looking for a turnkey residential income building, the quadplex is currently fully leased with property management already in place for the tenants. The combination of newer construction, modern finishes, and four active leases can simplify onboarding for an owner who wants to step into an operating, occupied asset.
Key Highlights
- New 4‑unit quadraplex built in 2023 and fully leased for immediate income
- Current leased monthly rent totals $4,910/month (1,290; 1,195; 1,150; 1,275)
- Property management is in place for tenant leasing and oversight
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
$36,367
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
5.02%
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%
$727,340
$727.3K
Cap Rate 7%
$519,529
$519.5K
Cap Rate 9%
$404,078
$404.1K
Market Conditions
NOI Build-Up for 4,104 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
$58.1K $14.16/SF
− Vacancy
−$6.2K −$1.50/SF
EGI
$52.0K $12.66/SF
− OpEx
−$15.6K −$3.80/SF
NOI
$36.4K $8.86/SF
Area
ZIP 32244
Vacancy
10.60%
Lease Rate
$14.16 /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%
$727,340
Cap Rate 7%
$519,529
Cap Rate 9%
$404,078
Alternative Uses
Best Use
Multifamily LT 5
$519.5K
$454.6K – $606.1K
NOI $36,367 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$458.2K
$401.0K – $534.6K
NOI $32,077 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$1.09M
$957.9K – $1.28M
NOI $76,630 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 32244, FL
63,292
Population
26,250
Households
2.4
Avg Household Size
36
Median Age
24%
College-Educated
92%
High-School Grad
23.6 sq mi
ZIP Area
2,682
Density / Sq Mi
$61,652
Median Household Income
$39,064
Median Earnings
$1,366
Median Rent
$221,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit quadplex built in 2023, fully leased, with vinyl plank flooring and in-unit washer and dryer hookups.
Where is this quadplex located?
The property is located at 6535 SWEETBAY Ln 20 Jacksonville, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: New 4‑unit quadraplex built in 2023 and fully leased for immediate income; Current leased monthly rent totals $4,910/month (1,290; 1,195; 1,150; 1,275); Property management is in place for tenant leasing and oversight
