Two-Building Auto Service
For Sale
Contact for pricing
7262 LEM TURNER RD, Jacksonville, FL 32208
Masonry service buildings offer heated work areas, offices, restrooms, fenced service zones, and surface parking.
Property Size3,680 SF
Lot Size0.31 Acres
Price / SF$101.90
Days on Market11
Property Features for 7262 LEM TURNER RD
General Information
Standard status
Active
Size
3,680 SF
Lot size
0.31 Acres
Property subtype
Retail
Zoning
CGG-1 & CGG-2
Site & Location
Traffic Count
30,882 vehicles/day
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Amenities
concrete floors
limited office space
two restrooms
fenced service areas
surface parking
one curb cut
Building Details
Year Built
1978
Buildings
2
Stories
1
Units
1
Tenancy
Single
Construction
concrete-masonry
Listing Agency:
Berkshire Hathaway HomeServices Florida Network Realty Saint Augustine
Listed By:
Matthew Adams · License #FL SL3586514
Source:
Crexi
Added: Aug 11
Changed: Aug 18
Last Checked: Aug 20 at 9:53AM
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 Berkshire Hathaway HomeServices Florida Network Realty Saint Augustine
Investment Insights
Based on property information with market context.
This two-parcel automotive property includes separate service and workshop buildings totaling approximately 4,145 SF of gross building area, including a ±465 SF canopy. The larger 2,945 SF building dates to 1948, while the second building contains approximately 1,200 SF and was constructed in 1978. Combined enclosed and heated area is approximately 3,680 SF. Improvements include concrete-masonry construction, concrete floors, limited office space, two restrooms, fenced service areas, and surface parking.
The site provides approximately 90 feet of frontage on Lem Turner Road, one curb cut, and exposure to a reported traffic count of 30,882 vehicles per day near Ida Street. The parcels carry split zoning: CCG-2 on RE #026606-0000 and CCG-1 on RE #026760-0000. Access to I-95, Downtown Jacksonville, Jacksonville International Airport, and the surrounding Jacksonville market is identified in the property information. The offering is for real estate only; the operating business and personal property are excluded unless separately agreed in writing.
The site provides approximately 90 feet of frontage on Lem Turner Road, one curb cut, and exposure to a reported traffic count of 30,882 vehicles per day near Ida Street. The parcels carry split zoning: CCG-2 on RE #026606-0000 and CCG-1 on RE #026760-0000. Access to I-95, Downtown Jacksonville, Jacksonville International Airport, and the surrounding Jacksonville market is identified in the property information. The offering is for real estate only; the operating business and personal property are excluded unless separately agreed in writing.
Key Highlights
- Approximately 4,145 SF of combined gross building area, including a ±465 SF canopy
- Two automotive service and workshop buildings: approximately 2,945 SF and 1,200 SF
- Approximately 3,680 SF of combined enclosed and heated area
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
$20,448
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%
$408,960
$409.0K
Cap Rate 7%
$292,114
$292.1K
Cap Rate 9%
$227,200
$227.2K
Market Conditions
NOI Build-Up for 3,680 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
$30.9K $8.40/SF
− Vacancy
−$1.7K −$0.46/SF
EGI
$29.2K $7.94/SF
− OpEx
−$8.8K −$2.38/SF
NOI
$20.4K $5.56/SF
Area
Jacksonville, FL
Vacancy
5.50%
Lease Rate
$8.40 /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%
$408,960
Cap Rate 7%
$292,114
Cap Rate 9%
$227,200
Alternative Uses
Best Use
Retail
$594.2K
$519.9K – $693.2K
NOI $41,592 @ 7.0% cap · market cap 11.09%
Second Best
Industrial
$292.1K
$255.6K – $340.8K
NOI $20,448 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$1.01M
$882.1K – $1.18M
NOI $70,568 @ 7.0% cap · market cap 18.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
30,882 VPD
Traffic count
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
619
Businesses Nearby
111k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 33%
Raceway
Shops & Services
24,084 visits/mo
0.1 miles
Taco Bell
Dining
11,986 visits/mo
0.3 miles
Checkers
Dining
9,720 visits/mo
0.5 miles
BP
Shops & Services
9,533 visits/mo
0.1 miles
Hardee's
Dining
8,098 visits/mo
0.4 miles
Demographics for 32208, FL
33,286
Population
15,218
Households
2.2
Avg Household Size
40
Median Age
15%
College-Educated
84%
High-School Grad
11.5 sq mi
ZIP Area
2,894
Density / Sq Mi
$39,873
Median Household Income
$31,845
Median Earnings
$1,180
Median Rent
$139,500
Median Home Value
Market
Vacancy Rate% for Retail in Jacksonville, FL
Questions? Ask Rey
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Similar Off Market Nearby
- Mickens Auto & Repair — 7639 Gainesville Ave, Jacksonville, FL 32208
- Wilburn's Garage — 7163 Lem Turner Rd, Jacksonville, FL 32208
- Cs Auto Repair — 1724 Oakhurst Ave, Jacksonville, FL 32208
- B.J.Westside Auto — 7608 Gainesville Ave, Jacksonville, FL 32208
- Suny Tire Shop Plus — n shore dr, jacksonville, fl 32208
Frequently Asked Questions
What type of property is this?
Auto shop - Masonry service buildings offer heated work areas, offices, restrooms, fenced service zones, and surface parking.
Where is this auto shop located?
The property is located at 7262 LEM TURNER RD Jacksonville, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Approximately 4,145 SF of combined gross building area, including a ±465 SF canopy; Two automotive service and workshop buildings: approximately 2,945 SF and 1,200 SF; Approximately 3,680 SF of combined enclosed and heated area
