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    3505 University Blvd W Jacksonville, FL 32217
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    3505 University Blvd W, Jacksonville, FL 32217

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    • Drug stores
    • 13,840 SF
    • 1.54 lot acres
    For Sale
    $3,600,000
    View Listing →
    Jacksonville Walgreens Property for Sale For Sale
    $3,600,000
    13,905 SF

    Jacksonville Walgreens Property for Sale

    Walgreens property with extended lease in Jacksonville, Florida.

    3505 University Blvd W, Jacksonville, FL 32217
    View Listing
    Property ID
    US18-3822396
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Coinhub Bitcoin ATM Teller / Atm
    • Western Union / Bank / Credit Union
    • Cardtronics ATM / Atm
    • COVID-19 Drive-Thru Testing at Walgreens / Medical Laboratory
    • Angelethia Calhoun / Pharmacy

    Property Details for 3505 University Blvd W

    Year built
    1996
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.54 lot acres
    Zone code
    CCG-1
    Property type
    Drug stores
    APN
    152662-0000
    APU
    1526620000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 1, 2026 $3,700,000 Hill Gray Seven LLC Best Meridian International Insurance Co Special Warranty Deed —
    Feb 10, 2017 $5,118,600 Best Meridian Intl Ins Co Triple Net Equities Ltd Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,605,000
      6.5%
      $2,405,000
      7%
      $2,235,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,718,000
      Market price range: $393k - $1.72M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,505,000
      Current use
      COMMERCIAL (GENERAL)
      $3,490,000
      Change: +39% Conversion: Easy
      MEDICAL BUILDING
      $3,160,000
      Change: +26% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,950,000
      Change: +18% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,285,000
      Change: -9% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,220,000
      Change: -11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.6266
    Latitude
    30.2617
    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
    $58,733
    $666,500
    $2,535,600
    $3,202,100
    -
    $666,500
    $2,535,600
    $3,202,100

    Comparable in this City

    • Value Estimation
      $2,340,000
      14,868 SF

      6005 Saint Augustine Rd

      DRUG STORE, PHARMACY
      6005 Saint Augustine Rd, Jacksonville, FL 32217-2139
      View Details
    • Value Estimation by Request
      4,113 SF

      6951 Saint Augustine Rd

      DRUG STORE, PHARMACY
      6951 Saint Augustine Rd, Jacksonville, FL 32217-2819
      View Details
    • Value Estimation by Request
      4,539 SF

      6530 Saint Augustine Rd

      FINANCIAL BUILDING
      6530 Saint Augustine Rd, Jacksonville, FL 32217-2812
      View Details
    • Value Estimation by Request
      2,800 SF

      5931 Powers Ave

      RETAIL STORES (PERSONAL SERVICES)
      5931 Powers Ave, Jacksonville, FL 32217-2209
      View Details
    • Value Estimation by Request
      2,128 SF

      6140 Saint Augustine Rd

      RETAIL STORES (PERSONAL SERVICES)
      6140 Saint Augustine Rd, Jacksonville, FL 32217-2511
      View Details
    • Value Estimation by Request
      1,452 SF

      1631 University W Blvd

      RETAIL STORES (PERSONAL SERVICES)
      1631 University W Blvd, Jacksonville, FL 32217-2007
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,905 SF

      Jacksonville Walgreens Property for Sale

      Walgreens property with extended lease in Jacksonville, Florida.
      3505 University Blvd W, Jacksonville, FL 32217
      View Details
    • Contact for pricing
      2,870 SF

      Freestanding Building on San Jose

      2,870± SF building suitable for retail or medical office.
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      2,937 SF

      Jacksonville Commercial Property For Sale

      Commercial property for sale in Jacksonville, Florida.
      6050 Saint Augustine Rd, Jacksonville, FL 32217
      View Details
    • Contact for pricing
      2,870 SF

      Freestanding Building on San Jose

      2,870± SF freestanding building fronting on San Jose Boulevard.
      6052 San Jose Blvd W, Jacksonville, FL 32217
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,447 SF

      Retail Space in Open-Air Center

      Retail space available in a repainted open-air center.
      6012-6030 San Jose Blvd W, Jacksonville, FL 32217
      View Details
    • Contact for pricing
      1,299 SF

      Retail Space in High-Traffic Area

      Retail space with high visibility and ample parking available for lease.
      3832 Baymeadows Rd, Jacksonville, FL 32217
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      2,395 SF

      Freestanding Retail Building For Rent

      2,395 SF freestanding retail building with excellent visibility.
      6002 Saint Augustine Rd, Jacksonville, FL 32217
      View Details
    • Contact for pricing
      1,470 SF

      Retail Space Near Baymeadows Road

      Premier shopping center with custom suites near Baymeadows Road.
      8650 Old Kings Rd S, Jacksonville, FL 32217
      View Details
    • Contact for pricing

      Renovated Office and Retail Spaces

      Newly renovated office and retail spaces with flexible configurations.
      2916 University Boulevard Ct West, Jacksonville, FL 32217
      View Details
    • Contact for pricing
      1,889 SF

      Retail Space in Lakewood Promenade

      Open-air retail center with high traffic and tenant mix.
      1500-1518 University Blvd W, Jacksonville, FL 32217
      View Details
    View Listing
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    Jacksonville, FL 32217
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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.

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