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    2067 Palmetto St Middleburg, FL 32068-5151
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    Property profile & analytics

    2067 Palmetto St, Middleburg, FL 32068-5151

    View on Map
    • Office Spaces
    • 2,646 SF
    • 3.03 lot acres
    Off-Market
    Last Sale Feb 16, 2021
    Property ID
    US18-3723940
    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
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Rich Morris - State Farm Insurance Agent / Insurance Agency
    • Rush Sally / Insurance Agency
    • Rhoden Ashlyn / Insurance Agency

    Property Details for 2067 Palmetto St

    Year built
    1999
    Construction
    WOOD
    Lot size
    3.03 lot acres
    Zone code
    BB-1
    Property type
    Office Spaces
    APN
    12-05-24-006159-001-00
    APU
    12052400615900100

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $560,000
      6.5%
      $520,000
      7%
      $480,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $495,000
      Market price range: $211k - $495k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $435,000
      Current use
      OFFICE BUILDING
      $735,000
      Change: +68% Conversion: Easy
      MEDICAL BUILDING
      $680,000
      Change: +55% Conversion: Easy
      AUTO REPAIR, GARAGE
      $500,000
      Change: +14% Conversion: Difficult
      RETAIL STORES
      $400,000
      Change: -8% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $390,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Middleburg
    County
    Clay
    State
    Florida
    Longitude
    -81.8633
    Latitude
    30.0742
    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
    $12,815
    $96,502
    $730,076
    $826,578
    -
    $96,502
    $730,076
    $826,578

    Comparable in this City

    • Value Estimation
      $1,465,000
      14,957 SF

      3292 County Rd 220

      OFFICE (GENERAL)
      3292 County Rd 220, Middleburg, FL 32068-4357
      View Details
    • Value Estimation by Request
      1,214 SF

      430 College Dr Ste, Unit 115

      CONDOMINIUM OFFICES
      430 College Dr Ste, Middleburg, FL 32068-8531
      View Details
    • Value Estimation by Request
      1,413 SF

      2223 County Rd 220th Ste, Unit 202

      CONDOMINIUM OFFICES
      2223 County Rd 220th Ste, Middleburg, FL 32068-7774
      View Details
    • Value Estimation by Request
      1,272 SF

      2747 Blanding Blvd Ste, Unit 102

      OFFICE (GENERAL)
      2747 Blanding Blvd Ste, Middleburg, FL 32068-5653
      View Details
    • Value Estimation by Request
      1,500 SF

      430 College Dr Ste, Unit 200

      CONDOMINIUM OFFICES
      430 College Dr Ste, Middleburg, FL 32068-8532
      View Details
    • Value Estimation by Request
      1,150 SF

      430 College Dr Ste, Unit 210

      CONDOMINIUM OFFICES
      430 College Dr Ste, Middleburg, FL 32068-8532
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,806 SF

      High-Visibility Commercial Site on County Road

      1+ acre commercial site in a high-growth corridor.
      3114 County Road 220, Middleburg, FL 32068
      View Details
    • $1,200,000

      Middleburg Commercial Investment Opportunity

      Flexible commercial space ideal for investors or owner-users.
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    • $2,400,000
      25,000 SF

      Middleburg Office Investment Opportunity

      25,000 SF office space for sale in Middleburg, Florida.
      430 College Dr, Middleburg, FL 32068
      View Details
    • $445,000
      3.94 Acres

      Prime Middleburg Commercial Land

      3.94 Acres, High Visibility, Hwy Access
      County Road 220, Middleburg, FL 32068
      View Details
    • $64,900
      1.60 Acres

      Wooded Land Parcel in Middleburg

      1.6 acre wooded parcel with natural Florida vegetation.
      Stoney Ln, Middleburg, FL 32068
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Move-In Ready Medical Office Space

      Well-maintained commercial space suitable for medical or professional uses.
      3180 County Road 220, Middleburg, FL 32068
      View Details
    • Contact for pricing

      Medical Office Space For Lease

      Medical office space available for lease.
      400 College Dr, Middleburg, FL 32068
      View Details
    • Contact for pricing

      Middleburg Retail/Office Space For Rent

      9,000 SF retail/office space with high visibility.
      2551 County Road 220, Middleburg, FL 32068
      View Details
    • Contact for pricing

      Retail Hub at Plantation Crossing

      Retail, medical, restaurant, and service spaces for lease.
      1782 Blanding Blvd, Middleburg, FL 32068
      View Details
    • $22,344
      11,172 SF

      Shell Office Space Available

      Shell office space with flexible suite sizes in Middleburg, FL.
      1811 Blanding Blvd, Middleburg, FL 32068
      View Details
    • Contact for pricing
      1,474 SF

      Retail/Office Condo in Middleburg

      Retail/office condo with recent upgrades in Middleburg, Florida.
      2219 County Road 220, Middleburg, FL 32068
      View Details
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    Middleburg, FL 32068-5151
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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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    2067 Palmetto St, Middleburg, FL, 32068
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