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    New Retail Space in Murray Hill Title is generated by Realmo AI

    840 Edgewood Avenue, Jacksonville, FL 32205

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    Ground floor retail space in a mixed-use development.

    Type:Retail
    Property size:
    11,000 SF
    Added:
    Mar 6, 2026
    Days on Market:
    72
    Last Refresh:
    Apr 5 at 11:20 pm

    Property Features for 840 Edgewood Avenue

    General Information

    Standard status
    Active
    Size
    11,000 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2020

    Spaces For Lease

    at 840 Edgewood Avenue Contact us

    We can help!

    Listing Contact
    Tiffany Wein

    Listing agent Tiffany Wein

    Listing office NAI Hallmark | Jacksonville

    Listing date Mar 6, 2026

    Source Naihallmark

    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 NAI Hallmark | Jacksonville

    HighLights

    • Located in the highly desirable and walkable Murray Hill neighborhood, known for its restaurants, bars, and creative businesses.
    • New construction, mixed‑use development offering 11,000 square feet of ground floor retail space.
    • Direct frontage on Edgewood Avenue.
    • Benefits from 117 residential units above, providing a built‑in customer base.
    • 36 dedicated parking spaces in adjacent lot exclusively for retail tenants.
    • Part of a mixed‑use development with resident amenities including a fitness center and movie theater.

    Overview

    Located in the Murray Hill neighborhood of Jacksonville, this property offers ground floor retail space within a new construction, four-story mixed-use development. The Lofts at Murray Hill comprises 117 units, including 17 studio, 58 one-bedroom, and 42 two-bedroom apartments. Resident amenities include a fitness center, game room, hospitality room, internet cafe, and a 24-seat movie theater. The property features 11,000 square feet of retail space with direct frontage on Edgewood Avenue. Murray Hill is known for its local art, food, craft beer, and innovative businesses, making it a destination for restaurants, boutiques, and shops. The neighborhood is highly walkable and bikeable, with street-side parking available. An additional 36 parking spaces in the adjacent lot are reserved exclusively for retail tenants. The location provides a live-work-play environment within walking distance to established and trendy restaurants, bars, and creative start-up retailers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    L & S Delivery ... Trucking Company North Florida Medical ... Medical School Safe Haven of NE ... Association / Organization Capture The Heart Medical Clinic 3 Dog Music Music Venue

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.7202
    Latitude
    30.3135

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    FAQs

    What type of property is this?
    Mixed-use property - Ground floor retail space in a mixed-use development.
    Where is this mixed-use property located?
    The property is located at 840 Edgewood Avenue Jacksonville, FL.
    What are key features of this property?
    This property features: Located in the highly desirable and walkable Murray Hill neighborhood, known for its restaurants, bars, and creative businesses.; **New construction, mixed‑use development offering 11,000 square feet of ground floor retail space.**; Direct frontage on Edgewood Avenue.
    (904) 404-4453
    We can help!
    Listing Contact
    Tiffany Wein
    Learn More
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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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