Keystone Heights Commercial Land
For Sale
$347,500
4800 CYPRESS St, Keystone Heights, FL 32656
7+/- acres with warehouse, suitable for various commercial uses.
Property Size3,360 SF
Lot Size1.69 Acres
Days on Market152
Property Features for 4800 CYPRESS St
General Information
Standard status
Active
Size
3,360 SF
Lot size
1.69 Acres
Property subtype
Industrial
Building Details
Building Size
3,360 SF
Year Built
1978
Listing Agency:
CENTURY 21 LAKESIDE REALTY
(352) 222-9251
Listed By:
Trey Fields, III · License #3258030
(352) 222-9251
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:23AM
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 CENTURY 21 LAKESIDE REALTY
Investment Insights
Based on property information with market context.
This property offers an excellent business opportunity on approximately 7 acres, suitable for a construction or land development company, though other uses are possible. It features a large concrete block building or warehouse in good condition, which can be converted for a variety of business or commercial purposes. The property is zoned for industrial use, allowing for virtually any kind of business. Previously used as a borrow pit, a portion of the property is currently designated as such by the County. It benefits from excellent paved road access on County Road 214. Additionally, there is a single wide mobile home on the property, suitable for office or residential use. The location offers a short commute to Jacksonville or Gainesville and is centrally located in Keystone Heights.
Key Highlights
- 7+/- Acres with Industrial Zoning allowing for diverse business uses.
- Large concrete block building/warehouse in good condition suitable for conversion.
- Excellent paved road access on County Road 214.
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
$28,824
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
8.29%
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%
$576,480
$576.5K
Cap Rate 7%
$411,771
$411.8K
Cap Rate 9%
$320,267
$320.3K
Market Conditions
NOI Build-Up for 3,360 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
$35.9K $10.68/SF
− Vacancy
−$2.0K −$0.59/SF
EGI
$33.9K $10.09/SF
− OpEx
−$5.1K −$1.51/SF
NOI
$28.8K $8.58/SF
Area
Clay County, FL
Vacancy
5.50%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
15.00%
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%
$576,480
Cap Rate 7%
$411,771
Cap Rate 9%
$320,267
Alternative Uses
Best Use
Warehouse
$411.8K
$360.3K – $480.4K
NOI $28,824 @ 7.0% cap · market cap 8.29%
Second Best
Industrial
$339.1K
$296.7K – $395.6K
NOI $23,738 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$896.3K
$784.2K – $1.05M
NOI $62,738 @ 7.0% cap · market cap 18.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Explore this area
Business Placement
Demographics for 32656, FL
14,686
Population
6,565
Households
2.2
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
70.1 sq mi
ZIP Area
210
Density / Sq Mi
$73,201
Median Household Income
$40,985
Median Earnings
$1,068
Median Rent
$202,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 7+/- acres with warehouse, suitable for various commercial uses.
Where is this commercial land located?
The property is located at 4800 CYPRESS St Keystone Heights, FL.
What is the asking price?
The asking price for this property is $347,500.
What are key features of this property?
This property features: 7+/- Acres with Industrial Zoning allowing for diverse business uses.; Large concrete block building/warehouse in good condition suitable for conversion.; Excellent paved road access on County Road 214.
