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    Property profile & analytics

    8078 Devoe St Jacksonville, FL 32220

    • Commercial real estate
    • 1,368 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0579565
    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 8078 Devoe St

    Year built
    1953
    Property size
    1,368 SF
    Property type
    Commercial real estate
    APN
    005893-0000

    Description

    This 1,368 square foot traditional office building in Jacksonville, Florida, presents a compelling value-add investment opportunity. Located on a 5,663 square foot corner lot at 8078 Devoe St, 32220, this single-story, 1953-built property is zoned CCG-2 and offers 1,056 square feet of net rentable space. Its prime location just off I-10, two miles from I-295, and eight miles from I-95 provides exceptional accessibility and visibility. The property's distressed condition offers significant upside potential through renovations, including exterior enhancements (facade refresh, landscaping upgrade, improved signage), interior renovations (modernized common areas, updated restrooms, reconfigured floor plans), and systems upgrades (energy-efficient HVAC and lighting, smart building technologies, enhanced internet connectivity). The asking price is $89,700, and the lease type is NNNN. This property is ideal for an investor seeking to capitalize on its location and increase its value through strategic improvements, attracting higher-quality tenants and commanding premium rental rates. The property's APN is 005893-0000. This is a true value-add opportunity with potential for substantial returns.

    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
    -81.783379535046
    Latitude
    30.315690238869

    Comparable in this City

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      Chaffee Rd N, Jacksonville, FL 32220
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    • $300,000

      Jacksonville Land Parcel For Sale

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    • $625,000
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      Highway 90 Commercial Opportunity

      Highly visible commercial property on Highway 90 in Jacksonville.
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    Similar Nearby for Sale

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      Prime Jacksonville Retail Center

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      8209 Beaver St, Jacksonville, FL 32220
      View Details
    • $89,500
      0.46 Acres

      Land Near Commonwealth Avenue

      Two lots totaling 0.46 acres near bike trail.
      9130 Commonwealth Ave, Jacksonville, FL 32220
      View Details
    • $55,000
      0.15 Acres

      Cleared Lots Ready to Build

      Two cleared lots in Jacksonville, ready for construction.
      125 Hinson Ave, Jacksonville, FL 32220
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    • $400,000

      Secluded Land with Water Features

      13.67 acres of private land with pond and creek.
      Chaffee Rd N, Jacksonville, FL 32220
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    • $300,000

      Jacksonville Land Parcel For Sale

      Strategically located land parcel with excellent transportation access.
      9010 Commonwealth Ave Ave, Jacksonville, FL 32220
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    • $625,000
      6,500 SF

      Highway 90 Commercial Opportunity

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      9100 W Beaver St, Jacksonville, FL 32220
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    Similar Nearby for Lease

    • $4,800 /Mo

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      Commercial Land for Lease

      Land available for lease with development rights in place.
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    • $4,025 /Mo

      Secured Storage Yard For Rent

      1.15 AC storage yard with immediate occupancy available for rent.
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    • Contact for pricing
      500,000 SF

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      500,000 SF warehouse with customizable space and convenient access.
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      Industrial Land Near Transportation Hub

      Land with access to I-295 and I-10.
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      302,200 SF

      Jacksonville Warehouse Space Available

      302,200 sq ft warehouse space for lease.
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    Request Owner's contact information
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    8078 Devoe St
    Jacksonville, FL 32220
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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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