Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    2324 Phoenix Ave Jacksonville, FL 32206-3139

    • Manufacturing properties
    • 3,940 SF
    • 0.12 lot acres
    OFF-MARKET
    Last Sale
    Feb 01, 2022
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    8.1%
    Manufacturing properties
    Location Intelligence
    Property ID
    US18-2885240
    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

    • Burch Welding & Fabrication / Welder

    Property Details for 2324 Phoenix Ave

    Year built
    1972
    Construction
    STEEL FRAME
    Lot size
    0.12 lot acres
    Property size
    3,940 SF
    Zone code
    CCG-2
    Property type
    Manufacturing properties
    APN
    113801-0000
    APU
    1138010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $270,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $365,000
      6.5%
      $335,000
      7%
      $315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $367,000
      Market price range: $166k - $669k

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.6414
    Latitude
    30.3521
    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
    $1,112
    $7,880
    $48,851
    $56,731
    -
    $7,880
    $48,851
    $56,731

    Comparable in this City

    • Value Estimation
      $250,000
      7,721 SF

      672 8th St

      MANUFACTURING (LIGHT) • 7,721 SF
      672 8th St, Jacksonville, FL 32206-3904
      View Details
    • Value Estimation
      $450,000
      27,952 SF

      3511 Walnut St

      MANUFACTURING (LIGHT) • 27,952 SF
      3511 Walnut St, Jacksonville, FL 32206-2237
      View Details
    • Value Estimation
      $440,000
      25,640 SF

      1730 Westcott St

      MANUFACTURING (LIGHT) • 25,640 SF
      1730 Westcott St, Jacksonville, FL 32206-5450
      View Details
    • Value Estimation
      $430,000
      16,884 SF

      2017 Thelma St

      MANUFACTURING (LIGHT) • 16,884 SF
      2017 Thelma St, Jacksonville, FL 32206-4240
      View Details
    • Value Estimation
      $475,000
      21,500 SF

      1354 Wigmore St

      MANUFACTURING (LIGHT) • 21,500 SF
      1354 Wigmore St, Jacksonville, FL 32206-1576
      View Details
    • Value Estimation
      $470,000
      35,463 SF

      610 10th St

      MANUFACTURING (LIGHT) • 35,463 SF
      610 10th St, Jacksonville, FL 32206-3910
      View Details

    Similar Nearby for Sale

    • $1,100,000
      16,636 SF

      Springfield Industrial Warehouse Investment

      16,636 SF industrial warehouse in Historic Springfield.
      536 E 4Th St, Jacksonville, FL 32206
      View Details
    • $399,999
      4 SF

      Spacious Warehouse with Office Space

      4,000 SF concrete building near Downtown Jacksonville with office area.
      3429 N Liberty St, Jacksonville, FL 32206
      View Details
    • $610,000
      7,736 SF

      Jacksonville Commercial Building with Flexibility

      Spacious commercial building in historic Springfield with flexible layout.
      1415 Walnut St, Jacksonville, FL 32206
      View Details
    • $599,000
      4,360 SF

      Jacksonville Warehouse - Seller Financing

      4,360 SF Warehouse, Excellent Location
      4019 Ionia St, Jacksonville, FL 32206
      View Details
    • $3,350,000
      43,701 SF

      Jacksonville Industrial Estate For Sale

      43,701± SF industrial estate in Jacksonville, Florida.
      1100 Talleyrand Ave, Jacksonville, FL 32206
      View Details
    • $795,000

      Warehouse Near Arts District

      Warehouse near Jacksonville's Arts District with flexible office and creative space.
      2062 N Liberty St, Jacksonville, FL 32206
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      11,329 SF

      Downtown Jacksonville Industrial Warehouse Space

      Centrally located industrial warehouse space in Jacksonville's Downtown submarket.
      1855 Ionia 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
    • $14 SF/Yr
      75,718 SF

      Jacksonville Warehouse Portfolio

      Multiple Units, Flexible Space, Phoenix District
      2320 Liberty St, Jacksonville, FL 32206
      View Details
    • $11 SF/Yr
      3,519 SF

      1124 21St St

      Distribution properties
      1124 21St St, Jacksonville, FL 32206
      View Details
    • $7 SF/Yr
      16,476 SF

      Industrial Space Near JaxPort Terminal

      Industrial space for rent with excellent connectivity to I-95.
      955 Talleyrand Ave, Jacksonville, FL 32206
      View Details
    • Contact for pricing
      15,000 SF

      Industrial Flex Space with Storage

      15,000 SF flex space with secured outside storage.
      2404 Hubbard 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.
    2324 Phoenix Ave
    Jacksonville, FL 32206-3139
    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.