2023 Four-Unit Lakefront
For Sale
$699,000
6535 SWEETBAY Lane, Jacksonville, FL 32244
Residential Income, Jacksonville, FL
Property Size4,104 SF
Lot Size0.19 Acres
Price / SF$170.32
Days on Market95
Property Features for 6535 SWEETBAY Lane
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Rooms
Bedroom 5, Bedroom 1, Bedroom 8, Bedroom 4, Bedroom 7, Bedroom 2, Bedroom 3, Bedroom 6
Parking features
Off Street, Parking Lot
Appliances
Dishwasher, Disposal, Electric Range, Refrigerator
Subdivision
Ryans Pond
View
Lake
Elementary school
Cedar Hills
High school
Westside High School
Directions
Take I 295 south. Exit on 103rd and turn left. Turn right on Jammes Rd and then another Right onto Sweetbay.
Standard status
Active
APN
0143940145
Size
4,104 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11837
HOA Fee
$416 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water front features
Lake Front
Water front
1
Building Details
Year built
2023
Floors in Building
2
Number of units
4
Building materials
Frame
Roof type
Shingle
Listing Agency:
RE/MAX UNLIMITED · RE/MAX International
(904) 280-1115
Listed By:
LARA HOFFMAN · License #0685714
(904) 465-3140
Added: Jun 19
Changed: Sep 12
Last Checked: Sep 21 at 2:06AM
MLS# 2151383
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.
Completed in 2023, this 4,104-square-foot quadplex contains four residential units on a 0.19-acre lakefront parcel. The units feature open layouts, vinyl plank flooring throughout, primary suites with walk-in closets and walk-in showers, and washer and dryer hookups. Interior finishes include 36-inch cherry cabinets, granite countertops, center islands, and stainless appliances, with refrigerators, electric ranges, dishwashers, and disposals provided.
All four units are leased, and property management is in place. The property offers central electric heating and cooling, frame construction, a shingle roof, public sewer, and off-street parking with a parking lot. Its Jacksonville setting provides access to NAS JAX, schools, and shopping.
All four units are leased, and property management is in place. The property offers central electric heating and cooling, frame construction, a shingle roof, public sewer, and off-street parking with a parking lot. Its Jacksonville setting provides access to NAS JAX, schools, and shopping.
Key Highlights
- Four‑unit quadplex completed in 2023
- 4,104 square feet on 0.19 acres
- All four units are leased with property management in place
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
$36,367
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
5.20%
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%
$727,340
$727.3K
Cap Rate 7%
$519,529
$519.5K
Cap Rate 9%
$404,078
$404.1K
Market Conditions
NOI Build-Up for 4,104 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
$58.1K $14.16/SF
− Vacancy
−$6.2K −$1.50/SF
EGI
$52.0K $12.66/SF
− OpEx
−$15.6K −$3.80/SF
NOI
$36.4K $8.86/SF
Area
ZIP 32244
Vacancy
10.60%
Lease Rate
$14.16 /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%
$727,340
Cap Rate 7%
$519,529
Cap Rate 9%
$404,078
Alternative Uses
Best Use
Multifamily LT 5
$519.5K
$454.6K – $606.1K
NOI $36,367 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$458.2K
$401.0K – $534.6K
NOI $32,077 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$1.09M
$957.9K – $1.28M
NOI $76,630 @ 7.0% cap · market cap 10.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
Business Placement
Demographics for 32244, FL
63,292
Population
26,250
Households
2.4
Avg Household Size
36
Median Age
24%
College-Educated
92%
High-School Grad
23.6 sq mi
ZIP Area
2,682
Density / Sq Mi
$61,652
Median Household Income
$39,064
Median Earnings
$1,366
Median Rent
$221,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased four-unit property with modern interiors, individual laundry hookups, and off-street parking.
Where is this quadplex located?
The property is located at 6535 SWEETBAY Lane Jacksonville, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Four‑unit quadplex completed in 2023; 4,104 square feet on 0.19 acres; All four units are leased with property management in place
