C-1 Mixed-Use
For Sale
$249,900
600 Lemon St, Green Cove Springs, FL 32043
A four-room layout, full kitchen, and on-site parking and yard space support a range of potential commercial configurations.
Property Size1,296 SF
Price / SF$192.82
Days on Market39
Property Features for 600 Lemon St
General Information
Standard status
Active
Size
1,296 SF
Listing Agency:
MAXREV, LLC
(904) 460-2789
Listed By:
KRISTIN E ORR · License #3049669
(386) 336-5059
Source:
Exprealty
Added: Aug 27
Changed: Sep 29
Last Checked: Oct 3 at 3:22AM
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 MAXREV, LLC
Investment Insights
Based on property information with market context.
This 1,296-square-foot mixed-use property has four private rooms, two bathrooms, and a full kitchen. Its layout and outdoor area provide flexibility for a range of configurations. The property is zoned C-1 Neighborhood Commercial, with professional offices and select retail and service uses among the permitted options. Restaurants without drive-throughs, churches, and certain day-care uses may require special-exception approval; intended uses and approvals should be confirmed with the City of Green Cove Springs.
At 600 Lemon St in Green Cove Springs, the property is near downtown and has no HOA. On-site parking and yard space are included.
At 600 Lemon St in Green Cove Springs, the property is near downtown and has no HOA. On-site parking and yard space are included.
Key Highlights
- 1,296 SF with four private rooms and two bathrooms
- Full kitchen and flexible interior layout
- C‑1 Neighborhood Commercial zoning
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
$18,149
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
7.26%
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%
$362,980
$363.0K
Cap Rate 7%
$259,271
$259.3K
Cap Rate 9%
$201,656
$201.7K
Market Conditions
NOI Build-Up for 1,296 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
$31.1K $24.00/SF
− Vacancy
−$6.9K −$5.33/SF
EGI
$24.2K $18.67/SF
− OpEx
−$6.0K −$4.67/SF
NOI
$18.1K $14.00/SF
Area
Clay 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%
$362,980
Cap Rate 7%
$259,271
Cap Rate 9%
$201,656
Alternative Uses
Best Use
Office B
$259.3K
$226.9K – $302.5K
NOI $18,149 @ 7.0% cap · market cap 7.26%
Second Best
Mixed Use
$236.1K
$206.6K – $275.4K
NOI $16,524 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$345.7K
$302.5K – $403.3K
NOI $24,199 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
Explore this area
Business Placement
Demographics for 32043, FL
30,369
Population
13,331
Households
2.3
Avg Household Size
41
Median Age
31%
College-Educated
92%
High-School Grad
229.3 sq mi
ZIP Area
132
Density / Sq Mi
$80,698
Median Household Income
$46,310
Median Earnings
$1,370
Median Rent
$292,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A four-room layout, full kitchen, and on-site parking and yard space support a range of potential commercial configurations.
Where is this mixed-use property located?
The property is located at 600 Lemon St Green Cove Springs, FL.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,296 SF with four private rooms and two bathrooms; Full kitchen and flexible interior layout; C‑1 Neighborhood Commercial zoning
