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

    531 New Berlin Rd Jacksonville, FL 32218

    • Commercial real estate
    • 3.10 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4427410
    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

    • Commercial real estate

    Property Details for 531 New Berlin Rd

    Lot size
    3.10 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 3.1-acre commercial land parcel presents a unique investment opportunity in Jacksonville, Florida. Located at the signalized corner of New Berlin Road and Gillespie Avenue, this property boasts 635± feet of frontage on New Berlin Road. The site is comprised of seven contiguous parcels, already zoned for Commercial Planned Unit Development (PUD), making it development-ready. Its strategic location offers excellent visibility and accessibility, situated near Oceanway Elementary School (walking distance), Oceanway Middle School (0.3 miles), and the bustling River City Marketplace. The area is experiencing significant growth, with nearby developments including Dr. Horton Homes and a new VA Medical Center under construction. The property's proximity to I-295 (0.8 miles south) ensures convenient access to major transportation routes. Existing businesses in the immediate vicinity include a gas station and restaurants, indicating a strong commercial presence. This high-traffic location, combined with the PUD zoning and substantial lot size, presents a compelling opportunity for a variety of commercial developments. The individual parcel square footages are as follows: 541 New Berlin Road (594 sq ft), 242 Vernis Avenue (572 sq ft), 256 Vernis Avenue (1030 sq ft), 12716 Gillespie Avenue (1054 sq ft), 531 New Berlin Road (672 sq ft), 519 New Berlin Road (700 sq ft), and 257 Oceanway Avenue (840 sq ft). The asking price for this exceptional property is $2,880,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.626658
    Latitude
    30.466857

    Comparable in this City

    • $850,000
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      Prime Jacksonville Commercial Land

      1.96 Acres, High Visibility, Growth Corridor
      13135 Gillespie Ave, Jacksonville, FL 32218
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    • $6,533,750
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      Jacksonville Industrial Land - 108 Acres

      Prime I-95 industrial land, Duval County. Excellent investment opportunity.
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    • $495,000
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      Lem Turner Road Commercial Land

      4-Acre Commercial Lot, Jacksonville, FL
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    • $2,880,000

      Jacksonville Mixed-Use Development Opportunity

      3.1-acre commercial land, prime location.
      541 New Berlin Rd, Jacksonville, FL 32218
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    • $9,520,000
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      Jacksonville Industrial Land - 40 Acres

      Prime 40-acre industrial site in Jacksonville, FL.
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    • $200,000
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      Residential Land For Sale

      0.85-acre lot ideal for residential development in Jacksonville, FL.
      Harbison St, Jacksonville, FL 32218
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    Similar Nearby for Sale

    • $850,000
      1.96 Acres

      Prime Jacksonville Commercial Land

      1.96 Acres, High Visibility, Growth Corridor
      13135 Gillespie Ave, Jacksonville, FL 32218
      View Details
    • $6,533,750
      108.00 Acres

      Jacksonville Industrial Land - 108 Acres

      Prime I-95 industrial land, Duval County. Excellent investment opportunity.
      at I-95 Owens Rd, Jacksonville, FL 32218
      View Details
    • $495,000
      4.00 Acres

      Lem Turner Road Commercial Land

      4-Acre Commercial Lot, Jacksonville, FL
      0 Lem Turner Rd, Jacksonville, FL 32218
      View Details
    • $2,880,000

      Jacksonville Mixed-Use Development Opportunity

      3.1-acre commercial land, prime location.
      541 New Berlin Rd, Jacksonville, FL 32218
      View Details
    • $9,520,000
      40.00 Acres

      Jacksonville Industrial Land - 40 Acres

      Prime 40-acre industrial site in Jacksonville, FL.
      527 Gun Club Rd, Jacksonville, FL 32218
      View Details
    • $200,000
      Pending

      Residential Land For Sale

      0.85-acre lot ideal for residential development in Jacksonville, FL.
      Harbison St, Jacksonville, FL 32218
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land Available For Lease

      Land available for lease in Jacksonville, Florida.
      4243 Dunn Ave, Jacksonville, FL 32218
      View Details
    • $6,500 /Mo

      New Berlin Road Storage Land

      Up to 10 acres of outside storage for lease.
      New Berlin Rd, Jacksonville, FL 32218
      View Details
    • $3,437 /Mo

      Fenced Double Lot For Lease

      Fenced double lot with potential for pull-thru access.
      117 New Berlin Rd, Jacksonville, FL 32218
      View Details
    • New
      $2,900 /Mo
      142,006 SF

      Cleared 3.26-Acre Parcel For Lease

      3.26-acre cleared parcel for lease in a prime location.
      921 Cole Rd, Jacksonville, FL 32218
      View Details
    • Contact for pricing
      174,157 SF

      Jacksonville Industrial/Office Space

      Class A space, flexible options, prime location.
      2619 Ignition Dr, Jacksonville, FL 32218
      View Details
    • Contact for pricing

      Land Lease with Build-to-Suit

      Land available for lease with build-to-suit options.
      Imeson Park Blvd, Jacksonville, FL 32218
      View Details
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    531 New Berlin Rd
    Jacksonville, FL 32218
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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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