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    Industrial Building with Modern Upgrades Title is generated by Realmo AI

    2210 Melson Ave, Jacksonville, FL 32254

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    Distribution building with planned Class A upgrades and flexible configurations.

    Type:Industrial
    Property size:
    337,729 SF
    Lot size:
    22.07 Acres
    Added:
    Sep 6, 2023
    Days on Market:
    1003
    Last Refresh:
    May 12 at 9:41 pm

    Property Features for 2210 Melson Ave

    General Information

    Standard status
    Active
    Size
    337,729 SF
    Lot size
    22.07 Acres
    Property subtype
    Industrial

    Spaces For Lease

    at 2210 Melson Ave Contact us

    We can help!

    Listing Contact
    Bryan Bartlett

    Listing agent Bryan Bartlett License #SL682389

    Listing office Newmark - Jacksonville

    Listing date Sep 6, 2023

    Source Crexi

    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 Newmark - Jacksonville

    HighLights

    • Major capital improvements underway, including new roof, energy‑efficient lighting, landscaping, exterior painting, and parking lot repair.
    • Potential for Class A, state‑of‑the‑art distribution building upon completion of upgrades.
    • Large available space: ±57,848 sf – 337,729 sf.
    • Benefit from clear heights of 21’ and 22’.
    • Excellent paved trailer parking and additional land for expansion or storage.
    • Features 36 dock high loading positions.

    Overview

    The property at 2210 Melson Avenue is undergoing significant capital improvement upgrades. These include a new roof, energy-efficient lighting, enhanced landscaping, new exterior painting, and truck court/parking lot repair and resealing. Upon completion, the building will be a Class A distribution building in a dominant trade area location. The building offers a total size of approximately 337,729 square feet on a site of approximately 22.07 acres. Available space ranges from approximately 57,848 square feet to 337,729 square feet. Warehouse configurations include approximately 249,926 square feet with a 21-foot clear height and approximately 134,755 square feet with a 22-foot clear height. The total office space is approximately 24,252 square feet. Clear heights are 21 feet and 22 feet. Column spacing is 40 feet by 40 feet. Loading is facilitated by 36 dock-high positions and 2 drive-in ramps. The warehouse will be retrofitted with new motion-controlled LED lighting. The zoning is IL (Industrial Light). Utilities include the City of Jacksonville water/sewer and JEA Electric. The property features paved trailer parking and additional land suitable for building expansion or extra vehicle, trailer, or product storage. The electrical capacity is 1,600 AMPS. This property is suitable for distribution, warehousing, and other industrial uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Revlon Distribution Corporate Office Colomer USA Shipping Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.7240793
    Latitude
    30.3535106

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    FAQs

    What type of property is this?
    Distribution center - Distribution building with planned Class A upgrades and flexible configurations.
    Where is this distribution center located?
    The property is located at 2210 Melson Ave Jacksonville, FL.
    What are key features of this property?
    This property features: Major capital improvements underway, including new roof, energy‑efficient lighting, landscaping, exterior painting, and parking lot repair.; Potential for Class A, state‑of‑the‑art distribution building upon completion of upgrades.; Large available space: **±57,848 sf – 337,729 sf**.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Bryan Bartlett
    Real Estate License ID: SL682389
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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.

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