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    JPMorgan Chase Bank Ground Lease Title is generated by Realmo AI

    604 County Road 210 West, Saint Johns, FL 32259

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    New NNN ground lease with a strong tenant.

    Type:Retail
    Property size:
    3,432 SF
    Price / SF:
    $994/SF
    Added:
    May 12, 2026
    Days on Market:
    21
    Last Refresh:
    May 14 at 9:19 pm

    Property Features for 604 County Road 210 West

    General Information

    Standard status
    Active
    Size
    3,432 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2026

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    Listing Contact
    John Dowd
    John Dowd

    Listing agent John Dowd License #367715

    Listing office The Dowd Companies

    Listing date May 12, 2026

    Source Crexi

    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 The Dowd Companies

    HighLights

    • Absolute NNN ground lease with zero landlord responsibility, ideal for passive income or 1031 exchange.
    • Tenant is JPMorgan Chase Bank, N.A., the largest U.S. bank by assets.
    • Located in St. Johns County, Florida's fastest‑growing county, with the state's #1 public school district.
    • Strategic location within Beachwalk East Shopping Center on CR‑210 (27,500 VPD) with immediate I‑95/US‑1 access.
    • 15‑year primary term with six 5‑year options and 10% rent increases every five years.
    • Strong demographics: High median household income and rapid population growth.

    Overview

    This property features a brand-new absolute NNN ground lease to JPMorgan Chase Bank, located at 604 County Road 210 West in St. Johns, Florida. The primary term is 15 years, with six 5-year options, potentially extending up to 45 years. Rent increases are structured at 10% every five years, escalating the base rent. The property is located within Beachwalk East Shopping Center on the CR-210 corridor, which experiences 27,500 vehicles per day, and offers immediate access to I-95 and US-1. The shopping center includes a new BJ’s Wholesale Club and Lowe’s Home Improvement Center, all within the Twin Creeks/Beachwalk MPC. The broader Beachwalk retail commercial area includes a Publix-anchored shopping center and hospitality options with Compass by Margaritaville, all centered around a 14-acre Crystal Lagoon. St. Johns County is Florida’s fastest-growing county and has the state’s #1 public school district. The surrounding area includes over 18,000 rooftops across Nocatee, Beachwalk, and Beacon Lake. The property is suitable for passive, 1031 exchange, or institutional capital. Tenant improvements revert at expiration.
    Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Saint Johns
    County
    Duval
    State
    Florida
    Longitude
    -81.471668
    Latitude
    30.084896

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    FAQs

    What type of property is this?
    Bank - New NNN ground lease with a strong tenant.
    Where is this bank located?
    The property is located at 604 County Road 210 West Saint Johns, FL.
    What is the asking price?
    The asking price for this property is $3,411,765.
    What are key features of this property?
    This property features: Absolute NNN ground lease with zero landlord responsibility, ideal for passive income or 1031 exchange.; Tenant is JPMorgan Chase Bank, N.A., the largest U.S. bank by assets.; Located in St. Johns County, Florida's fastest‑growing county, with the state's #1 public school district.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing John Dowd
    John Dowd
    Real Estate License ID: 367715
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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