Flex Space with Climate-Controlled
New
For Sale
$1,550,000
1445 Montana Ave, Jacksonville, FL 32207
Light Industrial zoning accommodates a combined industrial, office, and retail configuration with ample power.
Property Size8,328 SF
Price / SF$186.12
Days on Market2
Property Features for 1445 Montana Ave
General Information
Standard status
Active
Size
8,328 SF
Property subtype
Industrial
Zoning
Light Industrial
Warehouse & Industrial
Warehouse Space
4,000 SF
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Listing Agency:
Newmark Phoenix Realty Group | Jacksonville
(904) 399-5222
Listed By:
Taylor Calfee
Source:
Nmrk
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 15 at 3:56AM
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 Newmark Phoenix Realty Group | Jacksonville
Investment Insights
Based on property information with market context.
This flex property combines industrial, office, and retail components within approximately 8,328 SF. The building includes approximately 4,000 SF of climate-controlled warehouse area, along with ample power. Light Industrial zoning is in place, and NNN lease terms are noted in the property information.
Located at 1445 Montana Ave in Jacksonville’s San Marco area, the property is described as being within a walkable neighborhood and minutes from Downtown Jacksonville. Its central Jacksonville position also provides access to major highway systems.
Located at 1445 Montana Ave in Jacksonville’s San Marco area, the property is described as being within a walkable neighborhood and minutes from Downtown Jacksonville. Its central Jacksonville position also provides access to major highway systems.
Key Highlights
- Approximately ±8,328 SF of industrial, office, and retail space
- Approximately ±4,000 SF of climate‑controlled warehouse area
- Light Industrial zoning
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
$119,773
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
7.73%
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%
$2,395,460
$2.4M
Cap Rate 7%
$1,711,043
$1.7M
Cap Rate 9%
$1,330,811
$1.3M
Market Conditions
NOI Build-Up for 8,328 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
$199.9K $24.00/SF
− Vacancy
−$40.2K −$4.82/SF
EGI
$159.7K $19.18/SF
− OpEx
−$39.9K −$4.79/SF
NOI
$119.8K $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%
$2,395,460
Cap Rate 7%
$1,711,043
Cap Rate 9%
$1,330,811
Alternative Uses
Best Use
Office B
$1.71M
$1.50M – $2.00M
NOI $119,773 @ 7.0% cap · market cap 7.73%
Second Best
Flex RnD
$1.29M
$1.13M – $1.51M
NOI $90,617 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$2.28M
$2.00M – $2.66M
NOI $159,698 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,658
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32207, FL
36,207
Population
18,866
Households
1.9
Avg Household Size
39
Median Age
38%
College-Educated
86%
High-School Grad
11.4 sq mi
ZIP Area
3,176
Density / Sq Mi
$60,875
Median Household Income
$45,478
Median Earnings
$1,139
Median Rent
$254,800
Median Home Value
Market
Vacancy Rate% for Office in Jacksonville, FL
Questions? Ask Rey
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Similar Off Market Nearby
- Tableside For Two — 1105 Cedar St, Jacksonville, FL 32207
- Firehouse Subs San Marco — 1949 San Marco Blvd #1, Jacksonville, FL 32207
Frequently Asked Questions
What type of property is this?
Flex space - Light Industrial zoning accommodates a combined industrial, office, and retail configuration with ample power.
Where is this flex space located?
The property is located at 1445 Montana Ave Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Approximately ±8,328 SF of industrial, office, and retail space; Approximately ±4,000 SF of climate‑controlled warehouse area; Light Industrial zoning
