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Property profile & analytics
FOR LEASE
Strip malls
87 Ashourian Ave St Augustine, FL 32092
Trust Owned
6-yr Hold
Free & Clear
Property ID
US18-5365844
For Lease
$7,120,000
87 Ashourian Ave, St Augustine, FL 32092
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2020
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
64,655 SF
Lot
12.2 ac (531,476 SF)
Zoning code
PUD
APN
026430 0060
UPID
US18-5365844
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
by Request
Blend (final)
Blend
$7.12M
Owner & transaction history
Linda,marie Mercer Rev L Trust · 6 yrs held
Linda,marie Mercer Rev L Trust
since 2020
7 recorded transactions
Zoning & alternative use
PUD · Jacksonville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$11.7M
+12.8%
Apartment house (5+ units)
$10.7M
+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 St Augustine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs St Augustine 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
$10,380,000
Current use
RETAIL STORES
$11,705,000
Change: +13% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$10,670,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$7.12M
Range $6.41M – $7.83M · ±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
$110 / 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
$134,382
Tax year 2023
Assessed value
$10,586,712
Assessed 2023
Previous assessed
$9,606,141
+10.2% YoY
Effective rate
1.27%
On assessed value
Land market value
$2,391,656
Improvement market value
$8,195,056
Total market value
$10,586,712
Applied tax rate
300.0000
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
2020
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
2
Total area
64,655 SF
Lot
12.2 ac (531,476 SF)
Zoning code
PUD
APN
026430 0060
UPID
US18-5365844
Jurisdiction
ST JOHNS
Zoning & alternative use
PUD · Jacksonville, FL
Zoning PUD · permitted uses
PUD · Jacksonville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jacksonville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$10.4M
RETAIL STORES
Est. value
$11.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.7M
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
2020
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Lot
12.2 ac
Current owner
From public records · entity-resolved
Linda,marie Mercer Rev L Trust
Trust
Free & Clear · 6 yrs held
Mailing address
7880 GATE PKWY STE #300, JACKSONVILLE, FL 32256-7285
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2021
—
Forum At Greenbriar LLC
—
Deed
related
$15,000,000 · Centerstate Bk NA
May 7, 2020
—
Linda,marie Mercer Rev L Trust
Linda Mercer
Quit Claim Deed
related
—
Oct 22, 2019
—
Greenbriar Storage LLC
Forum At Greenbriar LLC
Quit Claim Deed
related
$7,725,000 · Ameris Bank
Jul 22, 2016
$2,700,000
Forum At Greenbriar LLC
Kkp-chippewa Ltd
Grant Deed
—
—
—
Donale A Turlington
—
Deed Of Trust
related
$34,000 · Amsouth Bank
—
—
Brian Fulton
—
Deed Of Trust
related
$42,000 · Navy FCU
—
—
Forum At Greenbriar LLC
—
Deed Of Trust
related
$15,000,000 · Centerstate Bk NA
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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