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    Property profile & analytics

    903 University Blvd Jacksonville, FL 32211

    • Community centers
    • 63,913 SF
    • 18.27 lot acres
    For Lease
    View listing
    $22 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4295632
    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

    • Twice the Ice / Big Box & Wholesale Store / Distribution Center
    • Coinstar Kiosk - Bitcoin ATM / Currency Exchange Service / Kiosk
    • Primo Water Exchange / Big Box & Wholesale Store

    Property Details for 903 University Blvd

    Year built
    1953
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    18.27 lot acres
    Property size
    63,913 SF
    Zone code
    PUD
    Property type
    Community centers
    APN
    129407-0010
    APU
    1294070010

    Description

    This exceptional 188,880 square foot Class B retail strip center, located at 903 University Blvd N in Jacksonville, Florida (32211), presents a significant investment opportunity. Built in 1953 and extensively renovated in 2020, the property boasts 11 available spaces ranging from 885 to 15,000 contiguous square feet, with a total of 113,139 square feet currently vacant. Situated on a 19.21-acre lot, the center benefits from high visibility and accessibility on two major roadways: the Arlington Expressway (66,500 vehicles per day) and University Boulevard (33,791 vehicles per day). The property is zoned CCG-1 in Duval County and is part of the Arlington submarket. Under new ownership, the center is undergoing exterior renovations to enhance its appeal and create a vibrant community gathering space. This is a rare chance to acquire a well-located retail property with significant upside potential in a growing Jacksonville submarket. The minimum divisible space is 885 square feet. The property offers excellent frontage, access, and visibility, making it an ideal location for a variety of retail businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $10,260,000
      Current use
      MEDICAL BUILDING
      $14,605,000
      Change: +42% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $13,630,000
      Change: +33% Conversion: Difficult
      RETAIL STORES
      $11,570,000
      Change: +13% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $10,550,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.6024
    Latitude
    30.3294
    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
    $0.00
    $5,402,442
    $6,302,458
    $11,704,900
    -
    $5,402,442
    $6,302,458
    $11,704,900

    Comparable in this City

    • Value Estimation
      $1,020,000
      7,386 SF

      5606 Windermere Dr

      SHOPPING CENTER, STRIP CENTER • 7,386 SF
      5606 Windermere Dr, Jacksonville, FL 32211-5311
      View Details
    • Value Estimation
      $10,920,000
      94,706 SF

      926 Arlington N Rd

      SHOPPING CENTER, STRIP CENTER • 94,706 SF
      926 Arlington N Rd, Jacksonville, FL 32211-5956
      View Details
    • Value Estimation
      $1,510,000
      13,600 SF

      2640 Cesery Blvd

      SHOPPING CENTER, STRIP CENTER • 13,600 SF
      2640 Cesery Blvd, Jacksonville, FL 32211-2818
      View Details
    • Value Estimation
      $555,000
      5,040 SF

      8078 Lone Star Rd

      SHOPPING CENTER, STRIP CENTER • 5,040 SF
      8078 Lone Star Rd, Jacksonville, FL 32211-6261
      View Details
    • Value Estimation
      $675,000
      4,754 SF

      1324 University N Blvd

      SHOPPING CENTER, STRIP CENTER • 4,754 SF
      1324 University N Blvd, Jacksonville, FL 32211-5226
      View Details
    • Value Estimation
      $670,000
      6,240 SF

      1125 Cesery Blvd

      SHOPPING CENTER, STRIP CENTER • 6,240 SF
      1125 Cesery Blvd, Jacksonville, FL 32211-5611
      View Details

    Similar Nearby for Sale

    • $1,800,000
      6,628 SF

      Prime Corner Retail Opportunity

      Commercial property on 1.65 acres, high visibility, corner location.
      930 University Blvd N, Jacksonville, FL 32211
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    • $650,000
      6,734 SF

      Retail Property on Arlington Road

      Retail property for sale on Arlington Road, Jacksonville, FL.
      5749 Arlington Rd, Jacksonville, FL 32211
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    • $480,000

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      Versatile commercial property with office and work bays.
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      Stand-alone building with updates in high-traffic area.
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    • $875,000
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      Arlington Expressway Commercial Property

      High-visibility commercial property with redevelopment potential along Arlington Expressway.
      6200 Arlington Expy, Jacksonville, FL 32211
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    • $1,700,000
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      Restaurant Building For Sale

      5,898 SF stand-alone restaurant building with high guest capacity.
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    Similar Nearby for Lease

    • $18 SF/Yr
      10,737 SF

      Jacksonville Retail Space For Lease

      Multi-tenant shopping center with redesign and improvement plans.
      845-999 University Blvd N, Jacksonville, FL 32211
      View Details
    • $22 SF/Yr
      188,880 SF

      College Park Shopping Center Investment

      Prime Arlington Retail Space Available
      903 University Blvd, Jacksonville, FL 32211
      View Details
    • Contact for pricing
      3,557 SF

      Retail Space in Open-Air Center

      Retail space available in a repainted open-air shopping center.
      1520-1670 University Blvd W, Jacksonville, FL 32211
      View Details
    • Contact for pricing
      2,991 SF

      Freestanding Retail Building For Lease

      2,991 SF freestanding retail building with high traffic count.
      1030 University Blvd N, Jacksonville, FL 32211
      View Details
    • $3,000 /Mo
      782 SF

      Jacksonville Commercial Property For Rent

      Commercial property on Atlantic Blvd, ideal for retail or office.
      7328 Atlantic Blvd, Jacksonville, FL 32211
      View Details
    • $20 SF/Yr
      660 SF

      Retail Space Available For Rent

      660 square feet retail space for rent in Jacksonville, FL.
      1320 University Blvd N, Jacksonville, FL 32211
      View Details
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    Jacksonville, FL 32211
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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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