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Property profile & analytics
FOR LEASE
Strip malls
1198 Beach Blvd Jacksonville Beach, FL 32250
Entity Owned
20-yr Hold
Free & Clear
Property ID
US18-7894123
For Lease
1 / 30
Contact for pricing
1198 Beach Blvd, Jacksonville Beach, FL 32250
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Property summary
AI-generated overview
This exceptional Class A property, located at 1198 Beach Blvd in Jacksonville Beach, Florida (zip code 32250), presents a unique investment opportunity. The 13,340 square foot building, constructed in 2019 and renovated in 2021, boasts a prime outparcel location at a highly visible, lighted intersection of Beach Blvd and 11th St N., experiencing over 50,000 vehicles per day. The two-story building features six suites, with 4,700 square feet currently vacant, offering flexible space options ranging from a minimum of 3,200 square feet to a maximum contiguous space of 4,700 square feet. The property includes approximately 800 non-exclusive parking spaces, providing ample convenience for patrons. The zoning is JC-2. The building features a fully built-out, open floor plan layout with 21'5" finished ceilings. A significant advantage is the potential for additional rooftop space, ranging from 750 to 3,200 square feet, ideal for expansion or unique branding opportunities. The property's strategic location offers easy access via five ingress/egress points and places it within minutes of popular attractions such as the Jacksonville Pier, Jacksonville Beach Golf Club, and Margaritaville Beach Hotel, as well as numerous national retailers. With over 50,000 residents within a three-mile radius and over $793 million in consumer spending in 2022, this property offers exceptional potential for high returns. No elevators are present.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,416 SF
Lot
0.69 ac (30,010 SF)
Zoning code
JC-2
APN
177502-0050
UPID
US18-7894123
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.83M
Blend (final)
Blend
$1.41M
Owner & transaction history
Hasteh LLC · 20 yrs held
Hasteh LLC
since 2006
2 recorded transactions
Zoning & alternative use
JC-2 · Jacksonville Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.3M
+12.8%
Apartment house (5+ units)
$2.1M
+2.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Jacksonville Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jacksonville Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,995,000
Current use
RETAIL STORES
$2,250,000
Change: +13% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,050,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$1.41M
Range $1.26M – $1.55M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$113 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$48,255
Tax year 2023
Assessed value
$2,748,400
Assessed 2023
Previous assessed
$2,273,300
+20.9% YoY
Effective rate
1.76%
On assessed value
Assessed land
$601,120
Assessed improvement
$2,147,280
Land market value
$601,120
Improvement market value
$2,147,280
Total market value
$2,748,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
6
Bathrooms
27
Total area
12,416 SF
Lot
0.69 ac (30,010 SF)
Zoning code
JC-2
APN
177502-0050
UPID
US18-7894123
Jurisdiction
DUVAL
Zoning & alternative use
JC-2 · Jacksonville Beach, FLZoning JC-2 · permitted uses
JC-2 · Jacksonville Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.0M
RETAIL STORES
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
6
Bathrooms
27
Lot
0.69 ac
Current owner
From public records · entity-resolved
Hasteh LLC
Entity
Free & Clear · 20 yrs held
Mailing address
3982 ALHAMBRA DR W, JACKSONVILLE, FL 32207-6013
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2006
—
Hasteh LLC
Ashurian,edward & Roya
Warranty Deed
related
—
Jun 29, 2006
—
Edward Ashurian
Ashman
Warranty Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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