Renovated Flex Space with
For Sale
$735,000
5352 Highway Ave, Jacksonville, FL 32254
Light industrial facility combines showroom, office, and secured warehouse functions.
Property Size4,240 SF
Lot Size0.41 Acres
Price / SF$173.35
Days on Market65
Property Features for 5352 Highway Ave
General Information
Standard status
Active
Size
4,240 SF
Total Parking Spaces
15
Lot size
0.41 Acres
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Warehouse Space
2,480 SF
Office Build-Out
1,760 SF
Drive-In Doors
1
Additional Details
Office Units
3
Taxes and HOA fees
Annual Taxes
$6,898
Amenities
fully fenced
secure
store front
rollup garage door
sliding gate
Listing Agency:
GREEN PALM REALTY & PROPERTY MANAGEMENT
(904) 625-6807
Listed By:
PAULA BUZETA · License #SL3250911
(904) 240-2152
Source:
Exprealty
Added: Jul 6
Changed: Sep 7
Last Checked: Sep 7 at 2:48PM
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 GREEN PALM REALTY & PROPERTY MANAGEMENT
Investment Insights
Based on property information with market context.
This 4,240-square-foot flex property includes a storefront display and reception area, three heated and cooled offices totaling approximately 1,760 square feet, and a 2,480-square-foot warehouse. Two separate bathrooms, a 10-foot-high roll-up garage door, updated electrical and plumbing, and a 2024 roof support a range of light industrial and office functions. The building has been renovated and painted, with a fully fenced site and front sliding gate providing controlled access.
Set within West Jacksonville’s commercial and industrial area, the property is positioned near I-10 and 295. The 0.41-acre parcel includes 15 parking spaces along the front and offers a combination of office, display, and warehouse areas in one facility.
Set within West Jacksonville’s commercial and industrial area, the property is positioned near I-10 and 295. The 0.41-acre parcel includes 15 parking spaces along the front and offers a combination of office, display, and warehouse areas in one facility.
Key Highlights
- 4,240‑square‑foot flex property with storefront, offices, and warehouse space
- Approximately 1,760sqft of heated and cooled office space across 3 offices
- 2,480 sqft warehouse with a large 10' high rollup garage door
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
$60,980
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
8.30%
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%
$1,219,600
$1.2M
Cap Rate 7%
$871,143
$871.1K
Cap Rate 9%
$677,556
$677.6K
Market Conditions
NOI Build-Up for 4,240 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
$101.8K $24.00/SF
− Vacancy
−$20.5K −$4.82/SF
EGI
$81.3K $19.18/SF
− OpEx
−$20.3K −$4.79/SF
NOI
$61.0K $14.38/SF
Area
Jacksonville, FL
Vacancy
20.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,219,600
Cap Rate 7%
$871,143
Cap Rate 9%
$677,556
Alternative Uses
Best Use
Office B
$871.1K
$762.3K – $1.02M
NOI $60,980 @ 7.0% cap · market cap 8.30%
Second Best
Flex RnD
$659.1K
$576.7K – $768.9K
NOI $46,135 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,306 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
3
Office units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32254, FL
14,545
Population
6,331
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
73%
High-School Grad
12.4 sq mi
ZIP Area
1,173
Density / Sq Mi
$36,449
Median Household Income
$29,443
Median Earnings
$1,111
Median Rent
$85,100
Median Home Value
Market
Vacancy Rate% for Office in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Flex space - Light industrial facility combines showroom, office, and secured warehouse functions.
Where is this flex space located?
The property is located at 5352 Highway Ave Jacksonville, FL.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 4,240‑square‑foot flex property with storefront, offices, and warehouse space; Approximately 1,760sqft of heated and cooled office space across 3 offices; 2,480 sqft warehouse with a large 10' high rollup garage door
