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    9940 Atlantic Blvd Jacksonville, FL 32225

    Sponsored
    For Lease
    $98 SF/Yr

    Prime Automotive Dealership Site

    Lot size:
    1,221 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 1,221 sq. ft. retail property, situated on a 0.81-acre lot on Atlantic Boulevard, presents a unique investment opportunity. Ideally positioned between established BMW and Mercedes dealerships, this single-tenant building benefits from high traffic volume and visibility within a thriving automotive retail corridor. The property offers flexible lease options to suit various business needs. The main area, encompassing the front office canopy and main parking lot, is available for $9,000 per month on a triple net lease. A separate mechanic shop area, including a dedicated office, bathroom, storage space, and one container, is offered at $3,500 per month, also triple net. A third area, currently designated for renovation, includes a bathroom, a fenced-in rear lot, a carport, and three containers, and is available for $2,400 per month on a triple net basis. For those seeking the entire property, a combined lease of $13,000 per month, triple net, is available. This prime location and adaptable space make this an exceptional opportunity for an automotive-related business or a similar enterprise seeking high visibility and convenient access. The property's layout and multiple lease options provide significant flexibility for potential tenants.

    Property Features for 9940 Atlantic Blvd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,221 SF

    Unit(s) available at that property

    Space
    Size
    1,221 SF
    Rate per SF
    $98

    HighLights

    • Retail property at 9940 Atlantic Boulevard, totaling 1,221 square feet.
    • Single‑tenant occupancy.
    • 0.81‑acre lot.
    • Multiple lease options available: Front office/parking lot ($9,000/month NNN), mechanic shop/office/storage ($3,500/month NNN), and renovation building ($2,400/month NNN), or entire property ($13,000/month NNN).
    • Ideally situated on a high‑traffic dealership row, between BMW and Mercedes dealerships.
    Property Profile Location Intelligence

    Current Use by Public Records

    Beachside Ride Used Car Dealer Wheeler Auto Group Auto Broker Clickit Automotive Group Car Dealer ATM (Raceway Inc) Atm Raceway Convenience Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.5413872
    Latitude
    30.3223416

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    FAQs

    What type of property is this?
    Retail property - Prime Automotive Dealership Site
    Where is this retail property located?
    The property is located at 9940 Atlantic Blvd Jacksonville, FL.
    What is the lease rate?
    The lease rate is $98 SF/Yr.
    What are key features of this property?
    This property features: Retail property at 9940 Atlantic Boulevard, totaling 1,221 square feet.; Single-tenant occupancy.; 0.81-acre lot.
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    9940 Atlantic Blvd Jacksonville, FL 32225
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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.

    Alternative use

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

    More about this property
    9940 Atlantic Blvd Jacksonville, FL 32225
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