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    Airplane Hangar-Style Warehouse Title is generated by Realmo AI

    3232 Old Kings Road, Jacksonville, FL 32254

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    For Sale
    $1,400,000

    Light industrial warehouse with loading docks, roll-up doors, and tenant income under an NNN lease with one year remaining.

    Type:IND
    Property size:
    7,440 SF
    Lot size:
    1.40 Acres
    Price / SF:
    $188/SF
    Added:
    May 28, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 5 at 2:16 am

    Property Features for 3232 Old Kings Road

    General Information

    Standard status
    Active
    Size
    7,440 SF
    Lot size
    1.40 Acres
    Property subtype
    IND

    We can help!

    Listing Contact
    Ryan Cleary
    Ryan Cleary

    Listing agent Ryan Cleary License #3186165

    Listing office Keller Williams St Johns

    Listing date May 28, 2026

    Source Realnex

    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 Keller Williams St Johns

    HighLights

    • 7,440 SF airplane hangar‑style warehouse on approx. 1.4 acres in Jacksonville’s industrial corridor
    • IL (Light Industrial) zoning with expansive open warehouse space for logistics, storage, manufacturing, or fleet operations
    • Directly alongside the railroad with 2 loading docks and 3 roll‑up doors
    • Includes 2 office spaces and 1 bathroom for a mix of administrative and industrial workspace
    • Tenant occupied under an NNN lease with approx. one year remaining; tenant interested in signing a new lease

    Overview

    3232 Old Kings Road presents a 17,440 SF airplane hangar-style warehouse on approximately 1.4 acres, zoned IL (Light Industrial). The building is configured with expansive open warehouse space plus functional office support, including 2 office spaces and 1 bathroom. For loading and access, the property includes 2 loading docks and 3 roll-up doors, along with outdoor area suitable for parking and industrial staging.

    The site is located in Jacksonville’s industrial corridor and sits directly alongside the railroad, adding distinctive industrial character and site utility for users who value rail-adjacent access. The layout is also designed for operations that need efficient movement of goods, equipment, or fleet-related activity.

    The property is currently tenant occupied under an NNN lease with approximately one year remaining. The current tenant has expressed interest in remaining long term and is willing to sign a new lease, which supports continuity for an investor while also positioning the building as a practical option for an owner-user seeking immediate operating stability.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $178.6k $24.00
    − Vacancy −$35.9k −$4.82
    EGI $142.7k $19.18
    − OpEx −$35.7k −$4.79
    NOI $107.0k $14.38
    7,440 SF · lease $24.00/SF/yr · vacancy 20.10% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.53M
    $1.34M – $1.78M (±1% cap)
    NOI $107,002 @ 7.0% cap · market cap 7.64%
    Second Best
    Warehouse
    $717.1K
    $627.5K – $836.7K (±1% cap)
    NOI $50,200 @ 7.0% cap · market cap 3.59%
    Theoretical Best
    Office A
    $2.04M
    $1.78M – $2.38M (±1% cap)
    NOI $142,669 @ 7.0% cap · market cap 10.19%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Earthscapes Landscaping

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Storage Zone Self Storage and Business Centers — 2343 Edgewood Ave N, Jacksonville, FL 32254
    • CrownMotors Sales & Service, Inc. — 5510 New Kings Rd, Jacksonville, FL 32209

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.7235512
    Latitude
    30.3587811

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    FAQs

    What type of property is this?
    Warehouse - Light industrial warehouse with loading docks, roll-up doors, and tenant income under an NNN lease with one year remaining.
    Where is this warehouse located?
    The property is located at 3232 Old Kings Road Jacksonville, FL.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: 7,440 SF airplane hangar‑style warehouse on approx. 1.4 acres in Jacksonville’s industrial corridor; IL (Light Industrial) zoning with expansive open warehouse space for logistics, storage, manufacturing, or fleet operations; Directly alongside the railroad with 2 loading docks and 3 roll‑up doors
    (352) 270-4132
    We can help!
    Listing Contact
    Ryan Cleary
    Ryan Cleary
    Real Estate License ID: 3186165
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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