Light Industrial Flex
New
For Sale
$1,900,000
589 W 14TH Street, Atlantic Beach, FL 32233
Commercial Sale, Atlantic Beach, FL
Property Size7,000 SF
Lot Size0.55 Acres
Price / SF$257.03
Days on Market1
Property Features for 589 W 14TH Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
Corner Lot
Directions
Atlantic Blvd (SR-10 E). Go for 4.2 mi. Take ramp onto Mayport Rd (SR-A1A N) toward Mayport Road/Naval Station Mayport. Go for 1.1 mi. Turn left onto W Plaza Rd. Go for 0.2 mi. Turn right onto Rose St. Go for 423 ft. Turn left onto W 14th St. Go for 0.2 mi. End at 589 W 14th St Atlantic Beach, Florida 32233-2666
Subdivision
233-Atlantic Beach-West
Standard status
Active
APN
1710760000
Size
7,392 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16096
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
multiple bay doors
industrial shelving
Building Details
Year built
2001
Floors in Building
2
Flooring type
Concrete
Building materials
Block
Listing Agency:
KELLER WILLIAMS ST JOHNS · Keller Williams Realty
(904) 867-7694
Listed By:
FRED H CONLEY · License #3111530
(904) 509-5281
Added: Aug 28
Last Checked: Aug 28 at 3:06PM
MLS# 2162363
Copyright © 2026 realMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,392-square-foot flex property combines light industrial warehouse space with office improvements in a functional two-part layout. The warehouse area includes multiple bay doors, industrial shelving, concrete flooring, and room for varied operations. One end contains two-story office space, while the opposite end offers a separate office with its own private bay for distinct use or additional flexibility.
The 0.55-acre property includes a parking lot and multiple access points. Built in 2001, the building features block construction and is served by public water and public sewer. Zoning and permitted uses should be independently verified by the buyer.
The 0.55-acre property includes a parking lot and multiple access points. Built in 2001, the building features block construction and is served by public water and public sewer. Zoning and permitted uses should be independently verified by the buyer.
Key Highlights
- 7,392‑square‑foot light industrial flex building
- 0.55‑acre site with parking lot
- Warehouse includes multiple bay doors and industrial shelving
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
$103,518
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
5.45%
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%
$2,070,360
$2.1M
Cap Rate 7%
$1,478,829
$1.5M
Cap Rate 9%
$1,150,200
$1.2M
Market Conditions
NOI Build-Up for 7,392 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
$177.4K $24.00/SF
− Vacancy
−$39.4K −$5.33/SF
EGI
$138.0K $18.67/SF
− OpEx
−$34.5K −$4.67/SF
NOI
$103.5K $14.00/SF
Area
Duval County, FL
Vacancy
22.20%
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%
$2,070,360
Cap Rate 7%
$1,478,829
Cap Rate 9%
$1,150,200
Alternative Uses
Best Use
Office B
$1.48M
$1.29M – $1.73M
NOI $103,518 @ 7.0% cap · market cap 5.45%
Second Best
Warehouse
$905.9K
$792.7K – $1.06M
NOI $63,414 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,023 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32233, FL
23,980
Population
11,215
Households
2.1
Avg Household Size
41
Median Age
43%
College-Educated
94%
High-School Grad
10.2 sq mi
ZIP Area
2,351
Density / Sq Mi
$81,586
Median Household Income
$44,067
Median Earnings
$1,541
Median Rent
$396,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Block construction combines warehouse functionality with dedicated office areas and multiple access points.
Where is this flex space located?
The property is located at 589 W 14TH Street Atlantic Beach, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 7,392‑square‑foot light industrial flex building; 0.55‑acre site with parking lot; Warehouse includes multiple bay doors and industrial shelving
