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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    502 Chaffee Pt Blvd Jacksonville, FL 32221-4108

    • Turn key restaurants
    • 10,062 SF
    • 2.44 lot acres
    OFF-MARKET
    Last Sale
    Aug 12, 2020
    $2,485,100
    Value Estimations
    $2,710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0268771
    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.

    Current Use by Public Records

    • Cracker Barrel Old Country Store / American Restaurant / Family Restaurant
    • Muah Glosses 💋 / Cosmetics And Perfumes Supplier

    Property Details for 502 Chaffee Pt Blvd

    Year built
    2005
    Construction
    WOOD
    Lot size
    2.44 lot acres
    Property size
    10,062 SF
    Zone code
    PUD
    Property type
    Turn key restaurants
    APN
    006763-0745
    APU
    67630745

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,570,000
      ML approach
      $2,555,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,132,000
      Market price range: $2.24M - $8.13M

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.8448
    Latitude
    30.3086
    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
    $35,369
    $667,012
    $1,310,288
    $1,977,300
    -
    $667,012
    $1,310,288
    $1,977,300

    Comparable in this City

    • Value Estimation
      $300,000
      3,675 SF

      8265 Normandy Blvd

      RESTAURANT • 3,675 SF
      8265 Normandy Blvd, Jacksonville, FL 32221-6650
      View Details
    • Value Estimation
      $275,000
      2,588 SF

      7939 Normandy Blvd

      RESTAURANT • 2,588 SF
      7939 Normandy Blvd, Jacksonville, FL 32221-6640
      View Details
    • Value Estimation
      $1,700,000
      510 SF

      7788 Normandy Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 510 SF
      7788 Normandy Blvd, Jacksonville, FL 32221-6639
      View Details
    • Value Estimation
      $3,065,000
      3,126 SF

      7755 Normandy Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,126 SF
      7755 Normandy Blvd, Jacksonville, FL 32221-6638
      View Details
    • Value Estimation
      $855,000
      4,240 SF

      6011 Pow Mia Memorial Pkwy, Unit 993

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,240 SF
      6011 Pow Mia Memorial Pkwy, Jacksonville, FL 32221-8140
      View Details
    • Value Estimation
      $530,000
      3,134 SF

      11295 Crystal Spgs Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,134 SF
      11295 Crystal Spgs Rd, Jacksonville, FL 32221-1193
      View Details

    Similar Nearby for Sale

    • $499,000

      Corner Lot Potential Development Site

      Corner lot suitable for breakfast, fast food, or coffee shop.
      2487 Chaffee Rd S, Jacksonville, FL 32221
      View Details
    • $3,460,940
      1,565 SF

      Popeyes Restaurant on Normandy Blvd

      Popeyes restaurant for sale with a brand new 20-year lease.
      8007 Normandy Blvd, Jacksonville, FL 32221
      View Details
    • $2,378,376
      3.64 Acres

      Normandy Blvd Commercial Land

      Prime Jacksonville retail land, I-10 access.
      Jacksonville Normandy Blvd, Jacksonville, FL 32221
      View Details
    • $22,300,000
      58,691 SF

      Normandy Plaza: Retail Investment

      Jacksonville Grocery Center, 100% Leased
      11341 Normandy Blvd, Jacksonville, FL 32221
      View Details
    • New
      $672,900
      3,015 SF

      Veterinary Clinic Ready for TLC

      Veterinary clinic or pet spa opportunity in growing Jacksonville area.
      8141 W Ramona Blvd, Jacksonville, FL 32221
      View Details
    • $21,330,000

      New Retail Center Anchored by Publix

      Newly-developed retail center anchored by Publix in rapidly growing area.
      11341 Normandy Blvd, Jacksonville, FL 32221
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      562 SF

      Retail Space in Winn Dixie Center

      Retail space available in Winn Dixie-anchored shopping center.
      7953 Normandy Blvd, Jacksonville, FL 32221
      View Details
    • Contact for pricing

      Commercial Land For Lease

      One acre of commercial land available for ground lease.
      Jacksonville, FL 32221
      View Details
    • Contact for pricing

      Normandy Blvd Commercial Land Available

      One acre commercial land for ground lease or build-to-suit.
      7788 Normandy Blvd, Jacksonville, FL 32221
      View Details
    • Contact for pricing

      Prime Jacksonville Commercial Land

      One-acre lot, CCG-1 zoning
      0 Swq Normandy Blvd & Normandy Vlg Pkwy, Jacksonville, FL 32221
      View Details
    • Contact for pricing
      2 SF

      Cecil Distribution Center Warehouse Space

      Warehouse space available at Cecil Distribution Center in Jacksonville.
      13483 103Rd St, Jacksonville, FL 32221
      View Details
    • Contact for pricing
      603,529 SF

      Cecil Commerce Center: Building E

      Massive Jacksonville Industrial Space - 603,529 SF
      5550 Pow-Mia Memorial Pkwy, Jacksonville, FL 32221
      View Details

    Property Visit Statistics

    • Visits by month
      40.6k
    • Visitors by month
      31.7k
    • Avg Time on site
      63 min
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    502 Chaffee Pt Blvd
    Jacksonville, FL 32221-4108
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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.

    More about this property
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