6-Acre Mixed-Use Land
For Sale
$899,000
7261 Morse Ave, Jacksonville, FL 32244
6 acres of land zoned for commercial and residential use.
Property Size1,994 SF
Lot Size6.00 Acres
Price / SF$450.85
Days on Market203
Property Features for 7261 Morse Ave
General Information
Standard status
Active
Size
1,994 SF
Lot size
6.00 Acres
Building Details
Year Built
1956
Listing Agency:
ERA ONETEAM REALTY
Listed By:
GENE JONES · License #0178407
(904) 334-6628
Source:
Onewinningteam
Added: Mar 13
Changed: Sep 25
Last Checked: Oct 1 at 1:41PM
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 ERA ONETEAM REALTY
Investment Insights
Based on property information with market context.
This property features approximately 6 acres of land. The front portion, consisting of over one acre, is zoned CO (Commercial Office). The back portion, comprising approximately 5 acres, is zoned RR (Residential Rural). The property size is 1994 square feet.
Key Highlights
- Approximately 6 acres of land
- Front acre+ is zoned CO (Commercial Office)
- Back 5+- acres zoned RR (Rural Residential)
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
$25,424
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
2.83%
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%
$508,480
$508.5K
Cap Rate 7%
$363,200
$363.2K
Cap Rate 9%
$282,489
$282.5K
Market Conditions
NOI Build-Up for 1,994 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
$47.9K $24.00/SF
− Vacancy
−$7.2K −$3.60/SF
EGI
$40.7K $20.40/SF
− OpEx
−$15.3K −$7.65/SF
NOI
$25.4K $12.75/SF
Area
ZIP 32244
Vacancy
15.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$508,480
Cap Rate 7%
$363,200
Cap Rate 9%
$282,489
Alternative Uses
Best Use
Mixed Use
$363.2K
$317.8K – $423.7K
NOI $25,424 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$531.9K
$465.4K – $620.5K
NOI $37,232 @ 7.0% cap · market cap 4.14%
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
55
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 6 acres of land zoned for commercial and residential use.
Where is this mixed-use property located?
The property is located at 7261 Morse Ave Jacksonville, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Approximately 6 acres of land; Front acre+ is zoned CO (Commercial Office); Back 5+- acres zoned RR (Rural Residential)
