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    Elkton, FL 32033
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    Property profile & analytics

    Elkton, FL 32033

    View on Map
    • Turn key restaurants
    • 2,451 SF
    • 0.40 lot acres
    Off-Market
    Last Sale Mar 10, 2020
    $350,000
    Property ID
    US18-3694551
    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.
    Value Estimations
    $510,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turn key restaurants

    Property Details

    Year built
    1934
    Construction
    WOOD
    Lot size
    0.40 lot acres
    Property size
    2,451 SF
    Zone code
    CG
    Property type
    Turn key restaurants
    APN
    032490 0000
    APU
    324900000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $490,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $680,000
      Market price range: $681k - $1.68M
      AI Estimate
      $680,000
      Market price range: $681k - $1.68M

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

    Location Insight

    • Map
    • Local Demand
    City
    Elkton
    County
    St. Johns
    State
    Florida
    Longitude
    -81.428
    Latitude
    29.7818
    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
    $2,411
    $0.00
    $0.00
    $194,087
    -
    $51,750
    $142,337
    $194,087

    Comparable in this City

    • Value Estimation by Request
      1,497 SF

      3360 State Rd 207

      RESTAURANT • 1,497 SF
      3360 State Rd 207, Elkton, FL 32033-2200
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    • Value Estimation
      $1,435,000
      5,643 SF

      4050 State Rd 206th W

      AUTO REPAIR, GARAGE • 5,643 SF
      4050 State Rd 206th W, Elkton, FL 32033-3708
      View Details
    • Value Estimation
      $1,405,000
      9,766 SF

      3680 County Rd 305a

      AUTO REPAIR, GARAGE • 9,766 SF
      3680 County Rd 305a, Elkton, FL 32033-2752
      View Details
    • Value Estimation
      $1,590,000
      4,500 SF

      Elkton, FL 32033

      AUTO REPAIR, GARAGE • 4,500 SF
      Elkton, FL 32033
      View Details
    • Value Estimation by Request
      4,535 SF

      4875 State Rd 207

      AUTO REPAIR, GARAGE • 4,535 SF
      4875 State Rd 207, Elkton, FL 32033-3016
      View Details
    • Value Estimation by Request
      0.31 Acres

      6404 Armstrong Rd

      PARKING LOT • 0.31 Acres
      6404 Armstrong Rd, Elkton, FL 32033-3116
      View Details

    Similar Nearby for Sale

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      Prime PUD-Zoned Land Opportunity

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      Land available in Elkton, Florida.
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      46,200 SF

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    • $225,000
      Pending

      Cleared Land on SR 207

      0.64 acres of commercial land with SR 207 frontage.
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    • New
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      Land in Elkton, Florida

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    • Contact for pricing
      0.46 Acres

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      Land for sale near St. Augustine, Florida.
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    Similar Nearby for Lease

    • Contact for pricing

      Saint Augustine Warehouse Space Available

      Warehouse space available for lease in Saint Augustine, Florida.
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      155,720 SF

      Industrial Space Available For Lease

      72,000 SF industrial space with 32' clear height.
      4030 Deerpark Blvd, Elkton, FL 32033
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    • Contact for pricing
      246,818 SF

      Warehouse/Distribution Building in Elkton, FL

      247,000 SF warehouse/distribution building in St. Johns County.
      4055 Deerpark Blvd, Elkton, FL 32033
      View Details
    • Contact for pricing

      22.54 Acres Commercial Land Available

      22.54 acres of commercial land for rent near I-95.
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    • Contact for pricing
      321,500 SF

      Rail-Served Industrial Building Available

      321,500 SF rail-served industrial building with expansion potential.
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      View Details
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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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    Elkton, FL, 32033
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