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Property profile & analytics
FOR SALE
Motels
460 Lane Ave S, Jacksonville, FL 32254
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-3239390
For Sale
1 / 7
$5,500,000
460 Lane Ave S, Jacksonville, FL 32254
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Property summary
AI-generated overview
This exceptional 76-key motel in Jacksonville, Florida, presents a lucrative investment opportunity. Located at 460 Lane Ave S, in Duval County, zip code 32254 (30.3181755, -81.7536899), this property boasts a strong pro-forma NOI of $750,000, translating to an attractive pro-forma cap rate of 13.64%. The asking price is $5,500,000. The motel's convenient location near downtown Jacksonville offers significant potential for increased occupancy and revenue. Furthermore, the property includes additional undeveloped land, presenting exciting possibilities for future expansion or development, adding considerable value to the investment. This is a rare chance to acquire a well-established hospitality asset with substantial upside potential in a thriving Florida market. The property is classified as a motel within the hospitality sector. Detailed financial information is available upon request. This is a turnkey operation ready for a new owner to step in and capitalize on its existing success and future growth opportunities. Don't miss this chance to own a piece of Jacksonville's vibrant hospitality scene.
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1973
Construction
WOOD
Total area
17,509 SF
Lot
2.48 ac (107,911 SF)
Zoning code
CCG-1
APN
005186-0000
UPID
US18-3239390
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
Current use
Occupant on record · Public records
-
Knights Inn Jacksonville at S Lane Ave Hotel & Motel
-
Jax Inn motel Jacksonville , FL Hotel & Motel
-
CoinFlip Bitcoin ATM Currency Exchange Service Investment Service
-
Campbell Fast Quotes Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.36M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.94M
Blend (final)
Blend
$4.14M
Owner & transaction history
Jay Patel · 3 yrs held
Jay Patel
since 2023
Last sale
$4.1M
7 recorded transactions
Zoning & alternative use
CCG-1 · Jacksonville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.4M
+48.2%
Office building
$4.1M
+36.0%
Medical building
$4.0M
+34.3%
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 submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jacksonville 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
$4,250,000
ML approach
$4,360,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,980,000
Current use
COMMERCIAL (GENERAL)
$4,415,000
Change: +48% · Conversion: Difficult
OFFICE BUILDING
$4,050,000
Change: +36% · Conversion: Difficult
MEDICAL BUILDING
$4,000,000
Change: +34% · Conversion: Difficult
RETAIL STORES
$3,170,000
Change: +6% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,890,000
Change: -3% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,810,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$4.14M
Range $3.73M – $4.55M · ±10% · vs last sale $4.08M (May 2 2023)
Last sale anchor
$4.08M
May 2 2023
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
$236 / 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
$53,424
Tax year 2023
Assessed value
$3,341,100
Assessed 2023
Previous assessed
$2,360,400
+41.5% YoY
Effective rate
1.60%
On assessed value
Assessed land
$307,800
Assessed improvement
$3,033,300
Land market value
$307,800
Improvement market value
$3,033,300
Total market value
$3,341,100
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
Motels
Use group
MOTEL
Status
For Sale
Year built
1973
Construction
WOOD
Heating
FORCED AIR
Cooling
WALL UNIT
Buildings
2
Stories
2
Units
44
Rooms
76
Bathrooms
240
Total area
17,509 SF
Lot
2.48 ac (107,911 SF)
Zoning code
CCG-1
APN
005186-0000
UPID
US18-3239390
Jurisdiction
DUVAL
Zoning & alternative use
CCG-1 · Jacksonville, FL
Zoning CCG-1 · permitted uses
CCG-1 · 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
HOTEL/MOTEL Current
Est. value
$3.0M
COMMERCIAL (GENERAL)
Est. value
$4.4M
OFFICE BUILDING
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$4.0M
RETAIL STORES
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
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
1973
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Units
44
Rooms
76
Bathrooms
240
Lot
2.48 ac
Current owner
From public records · entity-resolved
Jay Patel
Individual
Mailing address
157 CERISE CT, DAYTONA BEACH, FL 32124-3678
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2023
$4,075,000
Jay Patel
Snl One INC
Special Warranty Deed
—
Jul 10, 2017
$2,500,000
Sanjay Patel
Mvp Hotels LLC
Grant Deed
$2,060,000 · Noa Bank
Dec 28, 2016
—
Mvp Hotels LLC
—
Deed
related
$1,000,000 · Noa Bank
Jul 11, 2016
—
Mvp Hotels LLC
—
Deed
related
$250,000 · Usameribank
Jun 17, 2014
$1,249,500
Mvp Hotels LLC
Ittleson Jacksonville Hotel Ll
Grant Deed
$1,064,000 · Noa Bank
Jun 25, 2012
—
Ittleson Jacksonville Hotel Ll
—
Deed Of Trust
related
$50,000,000 · Capitalsource Bank
May 4, 2012
—
Ittleson Trust 2010-1
Patel,ashok & Navnit Coc
Trustees Deed
related
—
May 1, 2012
—
Ittleson Trust 2010-1
Clerk Of Court Of Duval County
Trustees Deed
related
—
Jan 23, 2007
$5,000,000
West Palm Motel Corp
Nikita Hotels INC
Warranty Deed
$2,760,040 · California Bank & Trust
Aug 18, 2003
$24,000
Nikita Hotel INC
Amerihost Corp
Grant Deed
—
Aug 18, 2003
$350,000
H R Lewis Petroleum Co
Amerihost Corp
Grant Deed
—
Nov 29, 2001
$825,000
Amerihost Corp
Hospitality Mortgage Co
Grant Deed
$714,784 · Hospitality Mortgage Co
Oct 2, 1998
$65,000
Ishwar L Patel
Mcgirts LLC
Grant Deed
$50,000 · Seller
—
—
Mvp Hotels LLC
—
Deed Of Trust
related
$250,000 · Usameribank
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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