Auto Shop with Paint and Body
For Sale
Under Contract
$90,000
2507 MARTHA Street, Jacksonville, FL 32209
COMMERCIAL - Jacksonville, FL
Property Size1,116 SF
Lot Size0.11 Acres
Price / SF$80.65
Days on Market154
Property Features for 2507 MARTHA Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage, Carport
Directions
Turn right onto Broad St. N Turn left onto W State St. Turn left onto Henrietta Street Turn right onto Automobile Dr. The destination is on your left.
Subdivision
074-Paxon
Standard status
Active Under Contract
APN
0482530000
Size
1,116 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
749
Utilities
Cooling system
Central Air
Building Details
Year built
1990
Building materials
Brick, Block
Listing Agency:
KELLER WILLIAMS FIRST COAST REALTY · Keller Williams Realty
(904) 541-0180
Listed By:
JODDIE MCCLAIN · License #3385714
(904) 466-0266
Added: Mar 13
Changed: Aug 4
Last Checked: Aug 13 at 8:06AM
MLS# 2134934
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 auto shop building is currently operating as a paint and body shop and offers a functional layout with an open work area for automotive-related use. The structure is constructed with brick and block and features central air for interior comfort. Parking is available with both a carport and a garage to support day-to-day operations.
The property is located at 2507 Martha Street in Jacksonville, FL 32209 (Duval County). With a lot size of 0.11 acres and a building size of 1,116 square feet, it is positioned for service-oriented tenants. The offering notes flexible zoning suitable for a variety of automotive, industrial, or service-based uses, and the building is under a two-year lease with a long-term tenant.
Shown by appointment only. Please do not disturb the tenant.
The property is located at 2507 Martha Street in Jacksonville, FL 32209 (Duval County). With a lot size of 0.11 acres and a building size of 1,116 square feet, it is positioned for service-oriented tenants. The offering notes flexible zoning suitable for a variety of automotive, industrial, or service-based uses, and the building is under a two-year lease with a long-term tenant.
Shown by appointment only. Please do not disturb the tenant.
Key Highlights
- Currently operating as a paint and body shop
- 0.11‑acre lot with 1,116 SF building
- Brick and block construction with central air
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
$6,201
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%
$124,020
$124.0K
Cap Rate 7%
$88,586
$88.6K
Cap Rate 9%
$68,900
$68.9K
Market Conditions
NOI Build-Up for 1,116 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
$9.4K $8.40/SF
− Vacancy
−$516 −$0.46/SF
EGI
$8.9K $7.94/SF
− OpEx
−$2.7K −$2.38/SF
NOI
$6.2K $5.56/SF
Area
Jacksonville, FL
Vacancy
5.50%
Lease Rate
$8.40 /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%
$124,020
Cap Rate 7%
$88,586
Cap Rate 9%
$68,900
Alternative Uses
Best Use
Retail
$180.2K
$157.7K – $210.2K
NOI $12,613 @ 7.0% cap · market cap 14.01%
Second Best
Industrial
$88.6K
$77.5K – $103.4K
NOI $6,201 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$305.7K
$267.5K – $356.7K
NOI $21,400 @ 7.0% cap · market cap 23.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32209, FL
36,656
Population
17,706
Households
2.1
Avg Household Size
37
Median Age
12%
College-Educated
82%
High-School Grad
9.3 sq mi
ZIP Area
3,942
Density / Sq Mi
$29,468
Median Household Income
$26,435
Median Earnings
$1,042
Median Rent
$92,300
Median Home Value
Market
Vacancy Rate% for Retail in Jacksonville, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Brick auto shop with central air and carport and garage parking, currently operating as a paint and body shop.
Where is this auto shop located?
The property is located at 2507 MARTHA Street Jacksonville, FL.
What is the asking price?
The asking price for this property is $90,000.
What are key features of this property?
This property features: Currently operating as a paint and body shop; 0.11‑acre lot with 1,116 SF building; Brick and block construction with central air
