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

    87 Ashourian Ave St Augustine, FL

    • Strip malls
    • 64,655 SF
    • 12.20 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5365844
    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

    • Strip malls

    Property Details for 87 Ashourian Ave

    Year built
    2020
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    12.20 lot acres
    Property size
    64,655 SF
    Zone code
    PUD
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    026430 0060
    APU
    264300060

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $10,380,000
      Current use
      RETAIL STORES
      $11,705,000
      Change: +13% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $10,670,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    St. Johns
    State
    Florida
    Longitude
    -81.5268
    Latitude
    30.0586
    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
    $134,382
    $0.00
    $0.00
    $10,586,712
    -
    $2,391,656
    $8,195,056
    $10,586,712

    Comparable in this City

    • Value Estimation
      $3,675,000
      40,858 SF

      Saint Johns, FL 32259

      SHOPPING CENTER, STRIP CENTER • 40,858 SF
      Saint Johns, FL 32259
      View Details
    • Value Estimation
      $1,975,000
      12,500 SF

      2570 Race Trak Rd

      SHOPPING CENTER, STRIP CENTER • 12,500 SF
      2570 Race Trak Rd, Saint Johns, FL 32259-4588
      View Details
    • Value Estimation
      $640,000
      5,100 SF

      618 State Rd 13th N

      SHOPPING CENTER, STRIP CENTER • 5,100 SF
      618 State Rd 13th N, Saint Johns, FL 32259-3087
      View Details
    • Value Estimation by Request
      24,400 SF

      2245 County Rd 210th W

      SHOPPING CENTER, STRIP CENTER • 24,400 SF
      2245 County Rd 210th W, Jacksonville, FL 32259-4055
      View Details
    • Value Estimation
      $1,440,000
      14,085 SF

      2758 Race Trak Rd

      SHOPPING CENTER, STRIP CENTER • 14,085 SF
      2758 Race Trak Rd, Saint Johns, FL 32259-3250
      View Details
    • Value Estimation
      $1,290,000
      8,638 SF

      100 Gtwy Cir

      SHOPPING CENTER, STRIP CENTER • 8,638 SF
      100 Gtwy Cir, Saint Johns, FL 32259-4091
      View Details

    Similar Nearby for Sale

    • $373,525
      1,115 SF

      Roberts Village Office Condos

      Prime St. Johns, FL Office Condos
      1447 Roberts Rd, Saint Johns, FL 32259
      View Details
    • $1,200,000
      1.04 Acres

      Prime Fruit Cove Commercial Land

      1.04 Acres, High Visibility, $1.2M
      1430 State Rd 13, Fruit Cove, FL 32259
      View Details
    • $549,900

      Switzerland Horse Farm with Outbuildings

      Acre+ horse farm with multiple outbuildings and large homestead.
      2241 Marlee Rd S, Jacksonville, FL 32259
      View Details
    • $350,000
      0.99 Acres

      Land in Fruit Cove, FL

      0.99-acre lot in St. Johns County, no HOA or CDD.
      Lee Rd, Jacksonville, FL 32259
      View Details
    • New
      $949,700
      2.76 Acres

      Waterfront Land in St. Johns

      2.76 acre waterfront property on Durbin Creek.
      3075 Bishop Estates Rd, Saint Johns, FL 32259
      View Details
    • $2,700,000
      14.04 Acres

      14 Acres St. Johns County Land

      Prime Commercial/Residential Land, $2.7M
      0 County Road 210, Jacksonville, FL 32259
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      11,690 SF

      Retail and Office Space Available

      Shopping center and office space for rent in Jacksonville, Florida.
      1820 Sr 13, Jacksonville, FL 32259
      View Details
    • Contact for pricing

      Retail Space and Pad Sites

      Retail spaces and pad sites available in Jacksonville, Florida.
      4560 Race Track Rd, Jacksonville, FL 32259
      View Details
    • Contact for pricing
      515 SF

      Retail Space in Julington Marketplace

      Retail space for lease in a thriving St. Johns market.
      4125 Race Track Rd, Saint Johns, FL 32259
      View Details
    • Contact for pricing
      1,200 SF

      Restaurant Space with Drive-Thru

      1,200 SF restaurant space with drive-thru in St. Johns.
      1405 St Johns Pkwy, Saint Johns, FL 32259
      View Details
    • Contact for pricing
      17,707 SF

      Shops at Race Track Road

      Prime Retail Space in St. Johns County
      4560 Race Track Rd, Saint Johns, FL 32259
      View Details
    • Contact for pricing

      St Johns Warehouse Space

      Warehouse space available for lease in St Johns, Florida.
      350 Accolade Ave, Saint Johns, FL 32259
      View Details
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    87 Ashourian Ave
    St Augustine, FL
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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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