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    Property profile & analytics

    1035 Park St Jacksonville, FL 32204

    • Retail space
    • 2,547 SF
    • 0.06 lot acres
    For Lease
    View listing
    $45 SF/Yr
    Last Sale
    Jun 26, 2024
    $1,050,000
    Value Estimations
    $985,000
    Cap Rate Potential
    2.7%
    Retail space
    Location Intelligence
    Property ID
    US18-3134534
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Alewife Bottleshop and Tasting Room / Beer Store / Bar

    Property Details for 1035 Park St

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.06 lot acres
    Property size
    2,547 SF
    Zone code
    CCG-1
    Property type
    Retail space
    APN
    090344-0000
    APU
    903440000

    Description

    This exceptional retail space at 1035 Park Street in Jacksonville, Florida, presents a unique investment opportunity within the vibrant 5 Points neighborhood. Located in Duval County, zip code 32204, this single-tenancy property is ideally suited for a restaurant or urban storefront. The property benefits from its location in Riverside, a nationally registered historic district and one of Jacksonville's most sought-after neighborhoods. Riverside is renowned for its blend of historic charm and modern design, attracting a dynamic mix of residents and visitors. The area boasts a thriving community of innovative retailers, chef-driven restaurants, and a vibrant nightlife scene. This location is particularly appealing to the millennial demographic, with a remarkable 45% population increase in the last five years. Riverside's live-work-play environment creates a strong and consistent customer base. The property's address is 1035 Park Street, Jacksonville, FL 32204, offering excellent visibility and accessibility within this highly desirable area. This is a rare chance to establish a business in a thriving, historic, and rapidly growing community. The property type is retail, specifically categorized as a restaurant and urban storefront.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,050,000
      ML approach
      $1,050,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $781,000
      Market price range: $204k - $781k

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.6806
    Latitude
    30.3145
    CBSA code
    27260
    CBSA name
    JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,508
    $71,875
    $673,725
    $745,600
    -
    $71,875
    $673,725
    $745,600

    Comparable in this City

    • Value Estimation
      $345,000
      3,459 SF

      806 Rosselle St

      RETAIL STORES (PERSONAL SERVICES) • 3,459 SF
      806 Rosselle St, Jacksonville, FL 32204-2960
      View Details
    • Value Estimation
      $205,000
      2,298 SF

      2534 Oak St

      RETAIL STORES (PERSONAL SERVICES) • 2,298 SF
      2534 Oak St, Jacksonville, FL 32204-4504
      View Details
    • Value Estimation
      $275,000
      2,293 SF

      2510 Oak St

      RETAIL STORES (PERSONAL SERVICES) • 2,293 SF
      2510 Oak St, Jacksonville, FL 32204-4573
      View Details
    • Value Estimation
      $295,000
      1,840 SF

      2502 Oak St

      RETAIL STORES (PERSONAL SERVICES) • 1,840 SF
      2502 Oak St, Jacksonville, FL 32204-4504
      View Details
    • Value Estimation
      $210,000
      950 SF

      2298 Calvin St

      RETAIL STORES (PERSONAL SERVICES) • 950 SF
      2298 Calvin St, Jacksonville, FL 32204
      View Details
    • Value Estimation
      $385,000
      5,910 SF

      1059 Park St

      RETAIL STORES (PERSONAL SERVICES) • 5,910 SF
      1059 Park St, Jacksonville, FL 32204-3907
      View Details

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      800 Lomax Street: Prime Retail Opportunity

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      Publix Anchored Retail Center

      High-performing retail center in Jacksonville's Riverside neighborhood.
      2033 Riverside Ave, Jacksonville, FL 32204
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    • $3,500,000
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      Riverside Retail Property for Sale

      Retail property in Jacksonville's historic 5 Points neighborhood.
      813-819 Lomax St, Jacksonville, FL 32204
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    Similar Nearby for Lease

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      400 SF

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      Retail Space in Historic Neighborhood

      Retail property in Jacksonville's vibrant 5 Points neighborhood.
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      Renovated Commercial Space Available

      Recently renovated commercial space on Park Street, Jacksonville.
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      Retail Space in Five Points

      Retail space in the heart of Five Points.
      1049 Park St, Jacksonville, FL 32204
      View Details
    • $30 SF/Yr
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      Prime Retail Space in Riverside

      18,775 SF retail space in Jacksonville's growing Riverside neighborhood.
      2665 Park St, Jacksonville, FL 32204
      View Details
    • Contact for pricing
      35,860 SF

      Dennis + Ives Development Opportunity

      Retail, office, and mixed-use spaces in Jacksonville's Rail Yard.
      1505 Dennis St, Jacksonville, FL 32204
      View Details
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    Jacksonville, FL 32204
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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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