Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1242 Laura St Jacksonville, FL 32206-4993

    • Apartment buildings
    • 3,140 SF
    • 0.20 lot acres
    OFF-MARKET
    Last Sale
    Dec 03, 2021
    $703,000
    Value Estimations
    $785,000
    Show details
    Cap Rate Potential
    3%
    Apartment buildings
    Location Intelligence
    Property ID
    US18-4974903
    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

    • Springfield Apartments / Furnished Apartment Building

    Property Details for 1242 Laura St

    Year built
    1953
    Construction
    WOOD
    Lot size
    0.20 lot acres
    Property size
    3,140 SF
    Zone code
    RMD-S
    Property type
    Apartment buildings
    APN
    070836-0000
    APU
    708360000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $765,000
      ML approach
      $770,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $856,000
      Market price range: $217k - $856k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $520,000
      Current use
      MEDICAL BUILDING
      $715,000
      Change: +38% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $670,000
      Change: +29% Conversion: Difficult
      OFFICE BUILDING
      $610,000
      Change: +18% Conversion: Moderate
      RETAIL STORES
      $570,000
      Change: +10% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $505,000
      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
    -81.6566
    Latitude
    30.3389
    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
    $10,393
    $120,522
    $449,714
    $570,236
    -
    $120,522
    $449,714
    $570,236

    Comparable in this City

    • Value Estimation
      $110,000
      9,360 SF

      211 11th St

      APARTMENT HOUSE (5+ UNITS) • 9,360 SF
      211 11th St, Jacksonville, FL 32206-3618
      View Details
    • Value Estimation by Request
      6,004 SF

      106 18th St

      APARTMENT HOUSE (5+ UNITS) • 6,004 SF
      106 18th St, Jacksonville, FL 32206-2862
      View Details
    • Value Estimation
      $215,000
      3,958 SF

      1252 Hubbard St

      APARTMENT HOUSE (5+ UNITS) • 3,958 SF
      1252 Hubbard St, Jacksonville, FL 32206-5022
      View Details
    • Value Estimation
      $585,000
      3,910 SF

      20 3rd St

      APARTMENT HOUSE (5+ UNITS) • 3,910 SF
      20 3rd St, Jacksonville, FL 32206-4907
      View Details
    • Value Estimation
      $250,000
      1,793 SF

      231 11th St

      APARTMENT HOUSE (5+ UNITS) • 1,793 SF
      231 11th St, Jacksonville, FL 32206-6605
      View Details
    • Value Estimation
      $375,000
      3,918 SF

      1536 Liberty St

      APARTMENT HOUSE (5+ UNITS) • 3,918 SF
      1536 Liberty St, Jacksonville, FL 32206-4684
      View Details

    Similar Nearby for Sale

    • $849,000
      Pending

      Historic Multifamily Home in Springfield

      Historic home with income-generating apartments in Jacksonville's Springfield neighborhood.
      1232 N Laura St, Jacksonville, FL 32206
      View Details
    • New
      $335,000
      2,352 SF

      Turn-Key Multifamily Investment Opportunity

      Fully renovated duplexes generating $16K+ monthly, room for growth.
      51 E 32Nd St, Jacksonville, FL 32206
      View Details
    • $529,000

      Historic Springfield Triplex

      Jacksonville, FL: Turnkey Multifamily Investment
      1130 Market St St, Jacksonville, FL 32206
      View Details
    • New
      $389,900
      2,834 SF

      Renovated Duplex with Historic Charm

      Thoughtfully renovated duplex with modern luxury, near Downtown Jacksonville.
      4302 N Pearl St, Jacksonville, FL 32206
      View Details
    • $375,000
      1,981 SF

      Historic Springfield Duplex Opportunity

      Income-producing duplex in historic Springfield, near UF Health Hospital.
      347 Cottage Ave, Jacksonville, FL 32206
      View Details
    • $150,000

      Duplex Near Downtown Jacksonville

      Duplex in Brentwood, close to downtown and stadium.
      516 Linwood Ave, Jacksonville, FL 32206
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo
      700 SF

      Duplex with Fenced Yard

      Recently renovated duplex unit with yard and parking.
      3341 Westlake Ave, Jacksonville, FL 32206
      View Details
    • Contact for pricing
      32,000 SF

      Springfield Warehouse District Retail Opportunity

      Retail space in Jacksonville's Springfield Warehouse District near Emerald Trail.
      2303 N Market St, Jacksonville, FL 32206
      View Details
    • Contact for pricing
      5,190 SF

      Springfield Storefront on N Main

      Retail space in Jacksonville's Historic Springfield neighborhood.
      1720-1728 N Main St, Jacksonville, FL 32206
      View Details
    • $8,324 /Mo
      20,378 SF

      Jacksonville Warehouse with Office Space

      Warehouse space with office in Springfield, near downtown Jacksonville.
      1839 Ionia St, Jacksonville, FL 32206
      View Details
    • $7 SF/Yr
      25,300 SF

      Downtown Jacksonville Flex Space

      ±25,300 SF Industrial Building, Excellent Location
      1708 Marshall St, Jacksonville, FL 32206
      View Details
    • $16 SF/Yr

      Jacksonville Warehouse Space for Rent

      Flexible Industrial Space, Duval County
      1333 Haines St, Jacksonville, FL 32206
      View Details
    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.
    1242 Laura St
    Jacksonville, FL 32206-4993
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.