Just a little too short.
You can put a junction (just about) any place you want, as long as when you're done it's accessible...which doesn't mean EASILY accessible, just accessible. You have to be able to get to the splices without removing anything permanent (from the sound of it, drywall, paster, etc. will probably be the only ones that apply to your situation).
Throw a blank cover over it or put a receptacle in the box, depending on whether you have room and also how visible it will be...a receptacle that is 12" away from another, looks a little busy IMO, but barring box fill problems, either way is fine.
Last edited by jproffer; 02-22-2007 at 12:59 AM.