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

    8940 Lem Turner Rd Jacksonville, FL 32208-2267

    • Retail space
    • 2,156 SF
    • 0.36 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    8.9%
    Retail space
    Location Intelligence
    Property ID
    US18-8074634
    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

    • Retail space

    Property Details for 8940 Lem Turner Rd

    Year built
    1967
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.36 lot acres
    Property size
    2,156 SF
    Zone code
    CCG-2
    Property type
    Retail space
    APN
    036796-0010
    APU
    367960010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $405,000
      6.5%
      $375,000
      7%
      $350,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $174,000
      Market price range: $112k - $268k
      AI Estimate
      $200,000
      Market price range: $103k - $333k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $190,000
      Current use
      OFFICE BUILDING
      $420,000
      Change: +122% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $345,000
      Change: +84% Conversion: Moderate
      WAREHOUSE, STORAGE
      $260,000
      Change: +37% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.6853
    Latitude
    30.4037
    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
    $2,909
    $45,600
    $111,000
    $156,600
    -
    $45,600
    $111,000
    $156,600

    Comparable in this City

    • Value Estimation
      $240,000
      1,368 SF

      5123 Pearl St

      RETAIL STORES (PERSONAL SERVICES) • 1,368 SF
      5123 Pearl St, Jacksonville, FL 32208-5116
      View Details
    • Value Estimation
      $225,000
      3,516 SF

      6200 Norwood Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,516 SF
      6200 Norwood Ave, Jacksonville, FL 32208-4474
      View Details
    • Value Estimation
      $260,000
      720 SF

      9881 Lem Turner Rd

      RETAIL STORES (PERSONAL SERVICES) • 720 SF
      9881 Lem Turner Rd, Jacksonville, FL 32208-1565
      View Details
    • Value Estimation
      $305,000
      2,014 SF

      634 63rd St

      RETAIL STORES (PERSONAL SERVICES) • 2,014 SF
      634 63rd St, Jacksonville, FL 32208-4836
      View Details
    • Value Estimation
      $150,000
      3,726 SF

      2098 Edgewood W Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,726 SF
      2098 Edgewood W Ave, Jacksonville, FL 32208-3005
      View Details
    • Value Estimation
      $740,000
      7,466 SF

      1335 Edgewood W Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,466 SF
      1335 Edgewood W Ave, Jacksonville, FL 32208-3212
      View Details

    Similar Nearby for Sale

    • $2,250,000
      8,114 SF

      Retail Property on Lem Turner

      Retail property available for sale in Jacksonville, Florida.
      8807 Lem Turner Rd, Jacksonville, FL 32208
      View Details
    • $649,000
      2,077 SF

      Turnkey Tire Shop For Sale

      Profitable tire shop with equipment, land, and buildings included.
      9600 Lem Turner Rd, Jacksonville, FL 32208
      View Details
    • Contact for pricing
      9,378 SF

      Retail Center with I-95 Visibility

      Retail property in Norwood area, anchored by national tenants.
      5444 Norwood Ave, Jacksonville, FL 32208
      View Details
    • $299,000

      Jacksonville Office & Land Investment

      Prime Location, Excellent Condition, Ready to Occupy
      1547 Edgewood Ave, Jacksonville, FL 32208
      View Details
    • $35,000
      0.42 Acres

      Vacant Land in Jacksonville, FL

      Vacant lot to build your dream home.
      Merivale Rd, Jacksonville, FL 32208
      View Details
    • $370,000
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      Riverfront Land for Dream Home

      1.5-acre riverfront parcel for estate-style home with stunning views.
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    Similar Nearby for Lease

    • Contact for pricing
      3,161 SF

      Retail Space Near I-95

      Retail space available near I-95 in Jacksonville, Florida.
      5238 Norwood Ave, Jacksonville, FL 32208
      View Details
    • Contact for pricing
      8,920 SF

      Retail Space Near I-95

      Retail space available near I-95 in Jacksonville, Florida.
      5108 Norwood Ave, Jacksonville, FL 32208
      View Details
    • Contact for pricing
      29,000 SF

      Retail Space in Gateway Town

      Retail space for lease in revitalizing Gateway Town Center.
      5290 Norwood Ave, Jacksonville, FL 32208
      View Details
    • Contact for pricing
      3,161 SF

      Retail Space in Norwood Area

      Retail space available in Jacksonville, anchored by major retailers.
      5258 Norwood Ave, Jacksonville, FL 32208
      View Details
    • Contact for pricing
      119,303 SF

      Retail Space in Gateway Center

      Inline retail space in a revitalizing Jacksonville town center.
      5156 Norwood Ave, Jacksonville, FL 32208
      View Details
    • Contact for pricing
      79,486 SF

      Main Street Station Medical Office Space

      Prime Medical Office Suites, Jacksonville, FL
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      View Details
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    8940 Lem Turner Rd
    Jacksonville, FL 32208-2267
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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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