Upgraded Distribution
New
For Sale
$9,500,000
8051 Bayberry Road, Jacksonville, FL 32256
Corporate-guaranteed tenancy and recent site improvements support a low-maintenance industrial investment.
Property Size40,128 SF
Days on Market4
Property Features for 8051 Bayberry Road
General Information
Standard status
Active
Size
40,128 SF
Property subtype
Commercial
Net Operating Income
$527,288
Financials
Asking Price
$9,500,000
Cap Rate
5.55%
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Sprinkler System
Yes
Building Details
Building Size
40,128 SF
Listed By:
Mike Salik · License #License No. BK3450037 (FL)
(904) 322-7602
Source:
Matthews
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 12 at 3:26AM
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 Mike Salik
Investment Insights
Based on property information with market context.
This 40,128-square-foot distribution center is leased to Elliott Electric Supply, an electrical distributor operating more than 300 locations across 14 states. The lease includes a corporate guarantee and 3.5% annual rent escalations. Recent improvements include parking lot resealing and striping, a new fire-suppression system, full perimeter fencing, and roof and structural inspections, reducing near-term capital requirements.
The property is positioned in Jacksonville’s Southside industrial corridor along Butler Boulevard, with access to I-95 and I-295. Its location also places the facility near JAXPORT and within an area described as having strong logistics demand and population growth. The offering reflects a 5.55% going-in cap rate, with the projected Year-7 yield reaching 6.4%.
The property is positioned in Jacksonville’s Southside industrial corridor along Butler Boulevard, with access to I-95 and I-295. Its location also places the facility near JAXPORT and within an area described as having strong logistics demand and population growth. The offering reflects a 5.55% going-in cap rate, with the projected Year-7 yield reaching 6.4%.
Key Highlights
- 40,128‑square‑foot distribution center
- Leased to Elliott Electric Supply, which operates 300+ locations across 14 states
- Corporate‑guaranteed lease with 3.5% annual rent escalations
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
$344,246
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
3.62%
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%
$6,884,920
$6.9M
Cap Rate 7%
$4,917,800
$4.9M
Cap Rate 9%
$3,824,956
$3.8M
Market Conditions
NOI Build-Up for 40,128 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
$428.6K $10.68/SF
− Vacancy
−$23.6K −$0.59/SF
EGI
$405.0K $10.09/SF
− OpEx
−$60.7K −$1.51/SF
NOI
$344.2K $8.58/SF
Area
ZIP 32256
Vacancy
5.50%
Lease Rate
$10.68 /SF/Yr
Expense Ratio
15.00%
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%
$6,884,920
Cap Rate 7%
$4,917,800
Cap Rate 9%
$3,824,956
Alternative Uses
Best Use
Warehouse
$4.92M
$4.30M – $5.74M
NOI $344,246 @ 7.0% cap · market cap 3.62%
Second Best
Industrial
$4.05M
$3.54M – $4.72M
NOI $283,497 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$10.70M
$9.37M – $12.49M
NOI $749,270 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,407
Businesses Nearby
Explore this area
Business Placement
Demographics for 32256, FL
53,611
Population
27,735
Households
1.9
Avg Household Size
37
Median Age
53%
College-Educated
97%
High-School Grad
61.4 sq mi
ZIP Area
873
Density / Sq Mi
$73,203
Median Household Income
$47,360
Median Earnings
$1,586
Median Rent
$360,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Distribution center - Corporate-guaranteed tenancy and recent site improvements support a low-maintenance industrial investment.
Where is this distribution center located?
The property is located at 8051 Bayberry Road Jacksonville, FL.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: 40,128‑square‑foot distribution center; Leased to Elliott Electric Supply, which operates 300+ locations across 14 states; Corporate‑guaranteed lease with 3.5% annual rent escalations
