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    1550 Normandy Village Pkwy Jacksonville, FL 32221

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    1550 Normandy Village Pkwy Jacksonville, FL 32221

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    • Lifestyle centers
    • 51,982 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Heritage Christian Center / Church
    • Global Freight And Commerce Llc / Logistics Company / Freight Service
    • The Look Hair Salon / Hair Salon
    • Fearless Girlz Inc. / Charitable Organization / Social Service Agency
    • MiraLuxe - Small Event Venue Jacksonville FL / Hotel & Motel / Resort

    Property Details for 1550 Normandy Village Pkwy

    Property size
    51,982 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 51,982 square foot retail property, located at 1550 Normandy Village Pkwy in Jacksonville, Florida, presents a compelling investment opportunity. The single-story, nine-unit shopping center sits on a 7.66-acre lot in Duval County (zip code 32221), boasting 912 feet of frontage on Normandy Boulevard and high visibility from I-295. The property is zoned CCG-1 and features a fully paved site with a clean Phase 1 environmental report. Its prime location offers significant advantages, including proximity to a new Kindred Hospital (opening Q4 2024) and a Publix supermarket. The property is ideal for a variety of uses, including retail, medical, and office space, making it a versatile and attractive investment. The asking price is $4,600,000. This strategic location, combined with its size and existing infrastructure, presents a rare opportunity for significant return on investment in a rapidly growing area of Jacksonville. The property's accessibility and visibility make it an ideal location for businesses seeking high traffic and exposure. This is a turnkey opportunity with significant potential for future growth and development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.7742
    Latitude
    30.2927

    Comparable in this City

    • Value Estimation by Request
      58,691 SF

      11341 Normandy Blvd

      Individual retail properties • 58,691 SF
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    • Value Estimation
      $3,990,000
      31,467 SF

      7953 Normandy Blvd

      MINI-MALL • 31,467 SF
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    • Value Estimation
      $1,615,000
      38,417 SF

      7830 Normandy Blvd

      SHOPPING CENTER, STRIP CENTER • 38,417 SF
      7830 Normandy Blvd, Jacksonville, FL 32221-6641
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    • Value Estimation
      $1,670,000
      17,540 SF

      1523 Chaffee S Rd

      SHOPPING CENTER, STRIP CENTER • 17,540 SF
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    • Value Estimation by Request
      8,400 SF

      8081 Normandy Blvd

      SHOPPING CENTER, STRIP CENTER • 8,400 SF
      8081 Normandy Blvd, Jacksonville, FL 32221-7653
      View Details
    • Value Estimation by Request
      9,549 SF

      8019 Ramona W Blvd

      SHOPPING CENTER, STRIP CENTER • 9,549 SF
      8019 Ramona W Blvd, Jacksonville, FL 32221-3306
      View Details

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      New Retail Center Anchored by Publix

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    Jacksonville, FL 32221
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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.

    More about this property
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