Multi-Tenant Warehouse For
For Sale
Contact for pricing
9451 Craven Rd, Jacksonville, FL 32257
Multi-tenant warehouse in South Jacksonville's industrial corridor.
Property Size9,215 SF
Price / SF$140.53
Days on Market148
Property Features for 9451 Craven Rd
General Information
Standard status
Active
Size
9,215 SF
Property subtype
Industrial
Zoning
IL
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$96,592
Building Details
Year Built
1976
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Petra
(904) 894-6620
Listed By:
Ashleigh Shim · License #SL3573882
Source:
Crexi
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 12 at 3:28PM
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 Petra
Investment Insights
Based on property information with market context.
This multi-tenant warehouse is located off Sunbeam Road, with access to Philips Highway (US-1), in South Jacksonville between the Mandarin and Baymeadows neighborhoods. The property offers immediate cash flow with two tenants in place. It features parking and outdoor yard space suitable for storage or vehicle access. The property is suitable for investors seeking turnkey income or an end user looking for an owner-occupied facility. The property size is 9215 square feet.
Key Highlights
- Strategic location off Sunbeam Road with nearby access to Philips Highway (US‑1).
- Immediate cash flow with two tenants in place.
- Ample parking and outdoor yard space.
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
$62,176
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
4.80%
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%
$1,243,520
$1.2M
Cap Rate 7%
$888,229
$888.2K
Cap Rate 9%
$690,844
$690.8K
Market Conditions
NOI Build-Up for 9,215 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
$77.4K $8.40/SF
− Vacancy
−$4.3K −$0.46/SF
EGI
$73.1K $7.94/SF
− OpEx
−$11.0K −$1.19/SF
NOI
$62.2K $6.75/SF
Area
Jacksonville, FL
Vacancy
5.50%
Lease Rate
$8.40 /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%
$1,243,520
Cap Rate 7%
$888,229
Cap Rate 9%
$690,844
Alternative Uses
Best Use
Warehouse
$888.2K
$777.2K – $1.04M
NOI $62,176 @ 7.0% cap · market cap 4.80%
Second Best
Industrial
$731.5K
$640.1K – $853.4K
NOI $51,204 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$2.52M
$2.21M – $2.95M
NOI $176,707 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32257, FL
41,439
Population
18,465
Households
2.2
Avg Household Size
40
Median Age
36%
College-Educated
93%
High-School Grad
12.3 sq mi
ZIP Area
3,369
Density / Sq Mi
$75,180
Median Household Income
$45,772
Median Earnings
$1,441
Median Rent
$305,000
Median Home Value
Market
Vacancy Rate% for Industrial in Jacksonville, FL
Questions? Ask Rey
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Similar Off Market Nearby
- Life Storage — 3858 Old Sunbeam Rd, Jacksonville, FL 32257
Frequently Asked Questions
What type of property is this?
Warehouse - Multi-tenant warehouse in South Jacksonville's industrial corridor.
Where is this warehouse located?
The property is located at 9451 Craven Rd Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Strategic location off Sunbeam Road with nearby access to Philips Highway (US‑1).; Immediate cash flow with two tenants in place.; Ample parking and outdoor yard space.
