Spacious Warehouse with Recent
For Sale
$1,980,000
479 ZOO PARKWAY, Jacksonville, FL 32218
32,500 SF warehouse with renovations, near JAXPORT.
Property Size32,500 SF
Price / SF$60.92
Days on Market195
Property Features for 479 ZOO PARKWAY
General Information
Standard status
Active
Size
32,500 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$18,879
Amenities
Central Air
3
Other Road Type, Asphalt.
Building Details
Year Built
1974
Listing Agency:
COMMERCIAL REAL ESTATE PROF IN
(407) 737-9797
Listed By:
Mark Allen
Source:
Xome
Added: Feb 21
Changed: Sep 4
Last Checked: Sep 1 at 9:43PM
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 COMMERCIAL REAL ESTATE PROF IN
Investment Insights
Based on property information with market context.
This 32,500 square foot warehouse space is available for sale. The property is zoned industrial and features over $150,000 in upgrades and renovations. Recent improvements include a new AC unit, renovated bathroom, LED lighting, loading docks, and new carpet in the office area. A new electrical panel is forthcoming, and brand new roll-up doors have been installed. The building is equipped with a sprinkler system throughout. The property is located approximately 5 miles from JAXPORT. The location offers convenient access, situated approximately half a mile from I-95, Exit 358.
Key Highlights
- Gigantic price reduction of $470,000 for immediate sale.
- 32,500 (+-) SF warehouse space.
- Over $150,000 in upgrades and renovations including new AC, bathroom, LED lighting, loading docks, electrical panel, and office carpet.
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
$180,590
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
9.12%
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%
$3,611,800
$3.6M
Cap Rate 7%
$2,579,857
$2.6M
Cap Rate 9%
$2,006,556
$2.0M
Market Conditions
NOI Build-Up for 32,500 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
$273.0K $8.40/SF
− Vacancy
−$15.0K −$0.46/SF
EGI
$258.0K $7.94/SF
− OpEx
−$77.4K −$2.38/SF
NOI
$180.6K $5.56/SF
Area
ZIP 32218
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%
$3,611,800
Cap Rate 7%
$2,579,857
Cap Rate 9%
$2,006,556
Alternative Uses
Best Use
Warehouse
$2.89M
$2.53M – $3.37M
NOI $202,331 @ 7.0% cap · market cap 10.22%
Second Best
Industrial
$2.58M
$2.26M – $3.01M
NOI $180,590 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$8.67M
$7.59M – $10.11M
NOI $606,840 @ 7.0% cap · market cap 30.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32218, FL
67,040
Population
27,895
Households
2.4
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
96.7 sq mi
ZIP Area
693
Density / Sq Mi
$68,363
Median Household Income
$37,322
Median Earnings
$1,416
Median Rent
$260,300
Median Home Value
Market
Vacancy Rate% for Industrial in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 32,500 SF warehouse with renovations, near JAXPORT.
Where is this warehouse located?
The property is located at 479 ZOO PARKWAY Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,980,000.
What are key features of this property?
This property features: Gigantic price reduction of $470,000 for immediate sale.; 32,500 (+-) SF warehouse space.; Over $150,000 in upgrades and renovations including new AC, bathroom, LED lighting, loading docks, electrical panel, and office carpet.
