Automotive Service
For Sale
$90,000
2507 MARTHA Street, Jacksonville, FL 32209
Commercial Sale, Jacksonville, FL
Property Size1,116 SF
Lot Size0.11 Acres
Price / SF$80.65
Days on Market191
Property Features for 2507 MARTHA Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Carport, Garage
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
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: Sep 10
Last Checked: Sep 19 at 2:06PM
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 1,116-square-foot commercial building is currently operated as a paint and body shop. The property includes an open work area, a functional interior layout, carport parking, and a garage. Brick and block construction, central air, and a 1990 construction date further define the existing improvements.
The 0.11-acre property is located on Martha Street in Jacksonville, Florida. An existing tenant occupies the building under a two-year lease, providing continuity for the current automotive use. The configuration may also support continued service-shop operations or future reconfiguration, subject to applicable requirements.
The 0.11-acre property is located on Martha Street in Jacksonville, Florida. An existing tenant occupies the building under a two-year lease, providing continuity for the current automotive use. The configuration may also support continued service-shop operations or future reconfiguration, subject to applicable requirements.
Key Highlights
- 1,116 SF commercial building
- Currently operating as a paint and body shop
- Existing tenant with a two‑year lease
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
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
265
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Brick-and-block facility with central air, covered parking, and an existing two-year tenant lease.
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: 1,116 SF commercial building; Currently operating as a paint and body shop; Existing tenant with a two‑year lease
