Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Land for Sale Title is generated by Realmo AI

    1603 East 16th Street, Jacksonville, FL 32206

    View on Map
    Claim this Listing
    For Sale
    $45,000

    Land available for sale, demolition should be considered.

    Type:Land / Unimproved Land
    Property size:
    10,454 SF
    Lot size:
    0.24 Acres
    Price / SF:
    $4/SF
    Added:
    Feb 28, 2025
    Days on Market:
    463
    Last Refresh:
    Mar 13 at 6:47 pm

    Property Features for 1603 East 16th Street

    General Information

    Standard status
    Active
    Size
    10,454 SF
    Lot size
    0.24 Acres
    Property subtype
    Land / Unimproved Land

    We can help!

    Listing Contact
    GEORGE BARNES

    Listing agent GEORGE BARNES License #134730

    Listing office GEORGE A. BARNES, BROKER

    Listing date Feb 28, 2025

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of GEORGE A. BARNES, BROKER

    HighLights

    • Property is an uninhabitable structure.
    • Demolition should be considered.
    • Bathrooms Total: 0.0

    Overview

    The property includes an uninhabitable structure, and demolition should be considered. The property size is 10454 square feet.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.6338668
    Latitude
    30.3538709

    Nearby Similar for Sale

    • $880,000
      3,360 SF

      Block Building with Major Frontage

      Versatile 3,360 SF block building on a 0.92-acre site with two paved driveways and CCG-1 zoning.
      9073 HECKSCHER Drive, Jacksonville, FL 32226
      View Details
    • $895,000
      4,490 SF

      Riverside Office Space For Sale

      4490 SF office space in Jacksonville's Historic Riverside District.
      711 MARGARET Street, Jacksonville, FL 32204
      View Details
    • $595,000
      2,077 SF

      Auto Repair and Tire Shop

      Well-established tire and mechanic shop offered with real property and included business assets.
      9600 LEM TURNER Road, Jacksonville, FL 32208
      View Details
    • $850,000
      9,450 SF

      Jacksonville Commercial Site For Sale

      Income-producing commercial building with diverse tenant potential in Jacksonville, FL.
      715 N MCDUFF Avenue, Jacksonville, FL 32209
      View Details
    • $1,400,000
      7,440 SF

      Jacksonville Warehouse with Hangar Style

      7,440 SF warehouse on 1.4 acres in Jacksonville, FL
      3232 OLD KINGS Road, Jacksonville, FL 32254
      View Details
    • $772,000
      3,468 SF

      Jacksonville Commercial Property For Sale

      Commercial building in Springfield area location, great opportunity!
      2504 N MAIN Street, Jacksonville, FL 32206
      View Details
    • $862,654
      2,965 SF

      Renovated Commercial Building on Large Lot

      Modern, renovated commercial building with prime road frontage on 0.67-acre lot.
      6126 ATLANTIC Boulevard, Jacksonville, FL 32211
      View Details
    • $925,000
      7,491 SF

      Jacksonville Commercial Shop Property

      Turnkey commercial property with recent extensive improvements in Jacksonville, FL.
      5804 ARLINGTON Road, Jacksonville, FL 32211
      View Details
    • $300,000
      4,732 SF

      Versatile Commercial Property in Jacksonville

      1.55 acre commercial property with two structures totaling 4,732 SF.
      4511 SOUTEL Drive, Jacksonville, FL 32208
      View Details
    • $625,000
      6,500 SF

      Highway 90 Commercial Opportunity

      Highly visible commercial property on Highway 90 in Jacksonville.
      9100 W BEAVER Street, Jacksonville, FL 32220
      View Details
    • $1,700,000
      2,272 SF

      Office and Showroom Building

      Leased office/showroom on a near-acre corner lot zoned CCG-2, with recent HVAC upgrades from October 2024.
      8849 ARLINGTON Expressway, Jacksonville, FL 32211
      View Details
    • $300,000
      1,080 SF

      Commercial Property on Timuquana Road

      Commercial opportunity with flexible zoning and strong traffic exposure.
      5346 TIMUQUANA Road, Jacksonville, FL 32210
      View Details

    FAQs

    What type of property is this?
    Land - Land available for sale, demolition should be considered.
    Where is this land located?
    The property is located at 1603 East 16th Street Jacksonville, FL.
    What is the asking price?
    The asking price for this property is $45,000.
    What are key features of this property?
    This property features: Property is an uninhabitable structure.; Demolition should be considered.; Bathrooms Total: 0.0
    (904) 765-5505
    We can help!
    Listing Contact
    GEORGE BARNES
    Real Estate License ID: 134730
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1603 East 16th Street, Jacksonville, FL 32206
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!