Converted Office and Residential
For Sale
$350,000
Pending
932 MACCLENNY Avenue, Macclenny, FL 32063
A 2,006-sq-ft heated home conversion with four offices and two full bathrooms, offered for sale with included parcel area.
Property Size2,006 SF
Lot Size0.30 Acres
Days on Market147
Property Features for 932 MACCLENNY Avenue
General Information
Standard status
Pending
Size
2,006 SF
Lot size
0.30 Acres
Property subtype
Office
Amenities
3
Building Details
Year Built
1994
Listing Agency:
DUAL STATE REAL ESTATE INC
(904) 397-0263
Listed By:
SABRINA THRIFT
Source:
Xome
Added: Mar 19
Changed: Aug 12
Last Checked: Aug 11 at 5:27AM
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 DUAL STATE REAL ESTATE INC
Investment Insights
Based on property information with market context.
This building was originally constructed as a home and has been rented for residential use. The heated area is 2,006 square feet, and renovation was underway when the owner chose to let the buyer determine the final finishes. The interior layout includes four bedrooms/offices, a kitchen, a living room, and two full bathrooms, along with plumbing in the primary room for an additional sink.
The City of Macclenny indicates the use is Commercial or Residential. The sale includes some of parcel 31-2S-22-0000-0000-0373, totaling approximately 0.30 of an acre, and the seller will order a survey with an acceptable offer.
The City of Macclenny indicates the use is Commercial or Residential. The sale includes some of parcel 31-2S-22-0000-0000-0373, totaling approximately 0.30 of an acre, and the seller will order a survey with an acceptable offer.
Key Highlights
- 2006 sq ft heated home conversion with 4 bedrooms/offices and 2 full bathrooms
- Originally built as a home and has been rented for residential use
- Renovation was in progress when the owner left final finishes to the buyer
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
$28,092
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
8.03%
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%
$561,840
$561.8K
Cap Rate 7%
$401,314
$401.3K
Cap Rate 9%
$312,133
$312.1K
Market Conditions
NOI Build-Up for 2,006 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
$48.1K $24.00/SF
− Vacancy
−$10.7K −$5.33/SF
EGI
$37.5K $18.67/SF
− OpEx
−$9.4K −$4.67/SF
NOI
$28.1K $14.00/SF
Area
Baker 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%
$561,840
Cap Rate 7%
$401,314
Cap Rate 9%
$312,133
Alternative Uses
Best Use
Office B
$401.3K
$351.2K – $468.2K
NOI $28,092 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$535.1K
$468.2K – $624.3K
NOI $37,456 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Explore this area
Business Placement
Demographics for 32063, FL
14,360
Population
5,408
Households
2.7
Avg Household Size
38
Median Age
21%
College-Educated
86%
High-School Grad
73.3 sq mi
ZIP Area
196
Density / Sq Mi
$66,453
Median Household Income
$38,146
Median Earnings
$1,313
Median Rent
$231,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - A 2,006-sq-ft heated home conversion with four offices and two full bathrooms, offered for sale with included parcel area.
Where is this office units located?
The property is located at 932 MACCLENNY Avenue Macclenny, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2006 sq ft heated home conversion with 4 bedrooms/offices and 2 full bathrooms; Originally built as a home and has been rented for residential use; Renovation was in progress when the owner left final finishes to the buyer
