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

    8015 Merrill Rd Jacksonville, FL 32277-3718

    • Drive through restaurants
    • 2,576 SF
    • 1.01 lot acres
    OFF-MARKET
    Last Sale
    Feb 03, 2020
    $2,009,100
    Value Estimations
    $2,040,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5510399
    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

    • Krystal / Restaurant / Take-out & Catering

    Property Details for 8015 Merrill Rd

    Year built
    1995
    Construction
    WOOD
    Lot size
    1.01 lot acres
    Property size
    2,576 SF
    Zone code
    PUD
    Property type
    Drive through restaurants
    APN
    113012-0220
    APU
    1130120220

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,075,000
      ML approach
      $2,140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,963,000
      Market price range: $573k - $2.08M

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.5612
    Latitude
    30.3527
    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
    $22,793
    $327,712
    $911,988
    $1,239,700
    -
    $327,712
    $911,988
    $1,239,700

    Comparable in this City

    • Value Estimation by Request
      2,731 SF

      5905 Merrill Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,731 SF
      5905 Merrill Rd, Jacksonville, FL 32277-3424
      View Details
    • Value Estimation by Request
      1,800 SF

      6185 Ft Caroline Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,800 SF
      6185 Ft Caroline Rd, Jacksonville, FL 32277-2035
      View Details
    • Value Estimation by Request
      2,682 SF

      6030 Ft Caroline Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,682 SF
      6030 Ft Caroline Rd, Jacksonville, FL 32277-1804
      View Details
    • Value Estimation by Request
      2,118 SF

      5947 Merrill Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,118 SF
      5947 Merrill Rd, Jacksonville, FL 32277-3424
      View Details
    • Value Estimation by Request
      1,988 SF

      8003 Merrill Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,988 SF
      8003 Merrill Rd, Jacksonville, FL 32277-3718
      View Details
    • Value Estimation by Request
      2,437 SF

      7612 Merrill Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,437 SF
      7612 Merrill Rd, Jacksonville, FL 32277-3713
      View Details

    Similar Nearby for Sale

    • $380,000

      High-Traffic Commercial Property For Sale

      Well-maintained commercial property in high-traffic location, ideal for investors.
      7120 Merrill Rd, Jacksonville, FL 32277
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    • $928,000

      Commercial Land on Merrill Road

      Two lots totaling 0.50 acres with frontage on Merrill Road.
      7130 Merrill Rd, Jacksonville, FL 32277
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    • $55,000
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      Colony Cove Land Opportunity

      Land with existing foundation in established Jacksonville neighborhood.
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    • New
      $149,900
      0.24 Acres

      Arlington Hills Brick Building

      Brick building in Arlington Hills, currently used as a residence.
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      Prime Jacksonville Riverfront Land

      9.96 Acres, Residential Development Potential
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    • $1,100,000

      Corner Parcel on Merrill Road

      Commercial land with frontage on Merrill Rd near I-295.
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    Similar Nearby for Lease

    • Contact for pricing
      7,750 SF

      Dames Pointe Plaza Retail Spaces

      Jacksonville Retail Center - Multiple Units Available
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      View Details
    • Contact for pricing
      12,937 SF

      Retail Space Near Jacksonville University

      12,937 SF retail space with drive-thru, near Jacksonville University.
      5634 Merrill Rd, Jacksonville, FL 32277
      View Details
    • Contact for pricing
      1,200 SF

      Versatile Retail Spaces For Lease

      Flexible commercial spaces suitable for various businesses in high-traffic area.
      2930 Justina Rd, Jacksonville, FL 32277
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    • Contact for pricing

      Retail Space in Arlington Submarket

      Retail space for sublease in Jacksonville, near Jacksonville University.
      6060-10 Fort Caroline Rd, Jacksonville, FL 32277
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    • Contact for pricing
      2,400 SF

      Merrill Road Office Space Available

      Office space suitable for medical, wellness, or professional services.
      7645 Merrill Rd, Jacksonville, FL 32277
      View Details
    • Contact for pricing
      975 SF

      Merrill Road Office Space Available

      Office space for rent at 8011 Merrill Rd, Jacksonville, FL.
      8011 Merrill Rd, Jacksonville, FL 32277
      View Details

    Property Visit Statistics

    • Visits by month
      15.0k
    • Visitors by month
      10.7k
    • Avg Time on site
      19 min
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    8015 Merrill Rd
    Jacksonville, FL 32277-3718
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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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