Office Warehouse Condo
For Sale
$350,000
401-10330 Chedoak Ct, Jacksonville, FL 32223
Spacious warehouse condo with high ceilings, roll-up door, stubbed plumbing, and a loading dock.
Property Size2,400 SF
Price / SF$145.83
Days on Market178
Property Features for 401-10330 Chedoak Ct
General Information
Standard status
Active
Size
2,400 SF
Additional Details
Highway Access
Yes
Dock-High Doors
1
Listing Agency:
FLORIDA HOMES REALTY & MTG LLC
(904) 996-9115
Listed By:
AFSANEH BAGHAI AMRI
(904) 422-7098
Source:
Exprealty
Added: Mar 18
Changed: Sep 6
Last Checked: Sep 10 at 2:30PM
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 FLORIDA HOMES REALTY & MTG LLC
Investment Insights
Based on property information with market context.
This office warehouse condo unit offers a spacious 2,400-square-foot layout with high ceilings and a roll-up door for convenient loading and storage. The space includes stubbed plumbing and a loading dock, supporting a variety of office-plus-warehouse configurations.
The property is described as being very convenient to I-95 and Jaxport, providing practical access for business operations.
Presented for sale, the unit is designed as a condo-style space, with “turning keys” referenced in the remarks.
The property is described as being very convenient to I-95 and Jaxport, providing practical access for business operations.
Presented for sale, the unit is designed as a condo-style space, with “turning keys” referenced in the remarks.
Key Highlights
- Spacious 2,400 sq ft warehouse condo unit
- High ceilings and a roll‑up door
- Plumbing is stubbed for future buildout
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
$26,114
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
7.46%
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%
$522,280
$522.3K
Cap Rate 7%
$373,057
$373.1K
Cap Rate 9%
$290,156
$290.2K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$3.0K −$1.26/SF
EGI
$40.2K $16.74/SF
− OpEx
−$14.1K −$5.86/SF
NOI
$26.1K $10.88/SF
Area
Jacksonville, FL
Vacancy
7.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$522,280
Cap Rate 7%
$373,057
Cap Rate 9%
$290,156
Alternative Uses
Best Use
Office B
$493.1K
$431.5K – $575.3K
NOI $34,517 @ 7.0% cap · market cap 9.86%
Second Best
Flex RnD
$373.1K
$326.4K – $435.2K
NOI $26,114 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$657.5K
$575.3K – $767.0K
NOI $46,022 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32223, FL
25,600
Population
10,639
Households
2.4
Avg Household Size
47
Median Age
40%
College-Educated
95%
High-School Grad
11.5 sq mi
ZIP Area
2,226
Density / Sq Mi
$91,599
Median Household Income
$50,736
Median Earnings
$1,500
Median Rent
$377,500
Median Home Value
Market
Vacancy Rate% for Office in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Spacious warehouse condo with high ceilings, roll-up door, stubbed plumbing, and a loading dock.
Where is this flex space located?
The property is located at 401-10330 Chedoak Ct Jacksonville, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Spacious 2,400 sq ft warehouse condo unit; High ceilings and a roll‑up door; Plumbing is stubbed for future buildout
