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    1915 Pkwy Fleming Island, FL 32003
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    1915 Pkwy, Fleming Island, FL 32003

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    • Retail properties & Spaces
    • 7,440 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1915 Pkwy

    Year built
    2007
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This single-story, 7,440-square-foot retail center in Fleming Island, Florida, presents a compelling investment opportunity. Located at 1915 E West Pkwy, 32003, within a Planned Urban Development (PUD), this fee-simple property boasts a prime location in Clay County, part of the Jacksonville MSA. The center features two units

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fleming Island
    County
    Clay
    State
    Florida
    Longitude
    -81.714
    Latitude
    30.099

    Comparable in this City

    • Value Estimation by Request
      135,762 SF

      1550 County Road 220

      Neighborhood centers
      1550 County Road 220, Orange Park, FL 32003
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    • Value Estimation by Request
      21,179 SF

      1960 Eastwest Pkwy

      RETAIL STORES (PERSONAL SERVICES)
      1960 Eastwest Pkwy, Fleming Island, FL 32003-4900
      View Details
    • Value Estimation by Request
      480 SF

      7060 Hwy 17

      RETAIL STORES (PERSONAL SERVICES)
      7060 Hwy 17, Fleming Island, FL 32003-9317
      View Details
    • Value Estimation
      $1,830,000
      12,801 SF

      865 Hibernia Rd

      RETAIL STORES (PERSONAL SERVICES)
      865 Hibernia Rd, Fleming Island, FL 32003-8706
      View Details
    • Value Estimation
      $1,305,000
      11,191 SF

      1811 Eastwest Pkwy

      RETAIL STORES (PERSONAL SERVICES)
      1811 Eastwest Pkwy, Fleming Island, FL 32003-6348
      View Details
    • Value Estimation
      $1,175,000
      5,200 SF

      3565 Us Hwy 17

      RETAIL STORES (PERSONAL SERVICES)
      3565 Us Hwy 17, Fleming Island, FL 32003-7122
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,440 SF

      Fleming Island Retail/Office Property

      7,440 SF retail/office property in high-growth Fleming Island, Florida.
      1915 E Pkwy West, Fleming Island, FL 32003
      View Details
    • Contact for pricing
      10,060 SF

      New Construction Retail Investment Opportunity

      New construction retail property with a 15-year lease in Florida.
      1135 Clay St, Fleming Island, FL 32003
      View Details
    • Contact for pricing

      Freestanding Auto Service Center Investment

      Freestanding auto service center in Fleming Island, investment opportunity.
      Fleming Island, FL 32003
      View Details
    • $97,999
      Pending

      Land For Sale

      Land available on Riverwood Drive, Fleming Island, Florida.
      211 Riverwood Dr, Fleming Island, FL 32003
      View Details
    • Contact for pricing

      Fleming Island Outparcels For Sale

      Outparcels available in high-traffic Fleming Island location.
      2349 Village Square Pkwy, Fleming Island, FL 32003
      View Details
    • Contact for pricing

      Fleming Island Outparcels For Sale

      Two outparcels in high-traffic area near hospital and shopping.
      2349 Village Square Pkwy, Fleming Island, FL 32003
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,000 SF

      Retail Space in Fleming Island

      Retail space available in a high-traffic Fleming Island plaza.
      1615 County Road 220, Fleming Island, FL 32003
      View Details
    • Contact for pricing

      Retail Space Near Thriving Businesses

      Retail spaces available in high-traffic Fleming Island location.
      2000 East 1960 - Pkwy West, Fleming Island, FL 32003
      View Details
    • Contact for pricing
      965 SF

      Retail Space on CR 220

      Retail space with excellent visibility in Fleming Island trade area.
      1489 County Road 220, Fleming Island, FL 32003
      View Details
    • Contact for pricing
      8,000 SF

      Retail Space in Fleming Island

      Retail property serving affluent neighborhoods with high traffic counts.
      1985-1999 East West Pkwy, Fleming Island, FL 32003
      View Details
    • Contact for pricing
      6,083 SF

      Fleming Island Retail Space Available

      Retail space available in a high-traffic Fleming Island location.
      1605 County Road 220, Fleming Island, FL 32003
      View Details
    • Contact for pricing
      2,500 SF

      Retail Spaces in Fleming Island

      Retail spaces for lease in a recently-constructed shopping center.
      4701 Us Highway 17, Fleming Island, FL 32003
      View Details
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    Fleming Island, FL 32003
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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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