Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1401 Penman Rd E E Ste Jacksonville Beach, FL 32250-3647
    Back to Search
    Property profile & analytics

    1401 Penman Rd E E Ste, Jacksonville Beach, FL 32250-3647

    View on Map
    • Office Spaces
    • 1,000 SF
    • 0.02 lot acres
    Off-Market
    Last Sale Aug 6, 2021
    $535,000
    Property ID
    US18-3183907
    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.
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    2.6%
    Office Spaces
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 1401 Penman Rd E E Ste

    Year built
    1983
    Construction
    WOOD
    Lot size
    0.02 lot acres
    Property type
    Office Spaces
    APN
    177387-0060
    APU
    1773870060

    Description

    This exceptional mixed-use property, located at 1401 Penman Road in Jacksonville Beach, Florida, presents a unique investment opportunity. The 871.2 sq ft building, constructed in 1983, is a single-story structure currently operating as a turnkey hair salon with five styling stations. Three stations are currently leased at $700 per month each, generating substantial rental income, with two additional stations available for lease. The property boasts a prime location between Beach Boulevard and Atlantic Boulevard, ensuring high visibility and significant foot traffic. Ample parking is available with over 50 spaces. Recent improvements include a new roof and upgraded ceiling insulation. The property's versatile nature allows for a variety of commercial uses beyond its current configuration. Showings are strictly by appointment only, Saturdays through Mondays. The asking price is $450,000. This is a rare opportunity in a highly desirable location; don't miss out. The property is situated in Duval County, Florida, zip code 32250.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $565,000
      ML approach
      $520,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville Beach
    County
    Duval
    State
    Florida
    Longitude
    -81.4061
    Latitude
    30.3005
    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
    $4,286
    $0.00
    $290,000
    $290,000
    -
    $0.00
    $290,000
    $290,000

    Comparable in this City

    • Value Estimation
      $1,205,000
      7,056 SF

      1351 13th Ave S Ste, Unit 130

      CONDOMINIUM OFFICES
      1351 13th Ave S Ste, Jacksonville Beach, FL 32250-3237
      View Details
    • Value Estimation
      $2,785,000
      15,767 SF

      1577 Roberts Dr, Unit C300

      CONDOMINIUM OFFICES
      1577 Roberts Dr, Jacksonville Beach, FL 32250-3264
      View Details
    • Value Estimation by Request
      0.41 Acres

      530 3Rd St

      Office Units
      530 3Rd St, Jacksonville Beach, FL 32250
      View Details
    • Value Estimation by Request
      2,562 SF

      14011 Bch Blvd, Unit 240

      CONDOMINIUM OFFICES
      14011 Bch Blvd, Jacksonville, FL 32250-1694
      View Details
    • Value Estimation
      $2,500,000
      0.01 Acres

      14011 Bch Blvd, Unit 450

      CONDOMINIUM OFFICES
      14011 Bch Blvd, Jacksonville, FL 32250-1694
      View Details
    • Value Estimation
      $775,000
      3,086 SF

      1351 13th Ave S Ste, Unit 120

      CONDOMINIUM OFFICES
      1351 13th Ave S Ste, Jacksonville Beach, FL 32250-3237
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      17,658 SF

      Key West Style Office Building

      Two-story office building in a desirable coastal location.
      1909 Beach Blvd, Jacksonville Beach, FL 32250
      View Details
    • Contact for pricing

      Jacksonville Beach Office Investment

      4,935 SF office building in prime Jacksonville Beach location.
      705 3Rd St N, Jacksonville Beach, FL 32250
      View Details
    • Contact for pricing
      4,500 SF

      Modernized Office Suites Available

      Newly renovated office building with turnkey executive suites for rent.
      1415 3Rd St N, Jacksonville Beach, FL 32250
      View Details
    • $899,000
      1,624 SF

      Jacksonville Beach Medical Spa Building

      Retro medical spa building steps from Jacksonville Beach.
      611 4Th St N, Jacksonville Beach, FL 32250
      View Details
    • Contact for pricing
      9,856 SF

      Jacksonville Beach Professional Office Building

      One-story office building in Central Jacksonville Beach with stunning finishes.
      1114 Beach Blvd, Jacksonville Beach, FL 32250
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Jacksonville Beach Retail Unit

      Class A retail unit in the heart of Jacksonville Beach.
      102 6Th Ave N, Jacksonville Beach, FL 32250
      View Details
    • Contact for pricing

      High-Visibility Office Space Available

      Office suites with efficient layouts in Jacksonville Beach corridor.
      830 3Rd Street Cir South, Jacksonville Beach, FL 32250
      View Details
    • $6,000 /Mo
      4,500 SF

      Jacksonville Beach Professional Building

      Two-story professional building suitable for multi-tenant or single-tenant use.
      1415 3Rd St N, Jacksonville Beach, FL 32250
      View Details
    • Contact for pricing
      992 SF

      Move-in Ready Office Space

      Recently built-out office space with an open floorplan.
      2344-2348 3Rd St S, Jacksonville Beach, FL 32250
      View Details
    • Contact for pricing
      1,008 SF

      Jacksonville Beach Office Space

      1,008 SF office space in Jacksonville Beach for rent.
      1420 3Rd St N, Jacksonville Beach, FL 32250
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1401 Penman Rd E E Ste
    Jacksonville Beach, FL 32250-3647
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1401 Penman Rd E E Ste, Jacksonville Beach, FL, 32250
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!