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Property profile & analytics
OFF-MARKET
Estimated value
$7,770,000
Medical Office Space
2370 Market Dr Fleming Island, FL 32003-4326
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-7589323
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2014
Construction
STEEL FRAME
Total area
19,717 SF
Lot
2.29 ac (99,708 SF)
Zoning code
PUD
APN
08-05-26-014266-027-06
UPID
US18-7589323
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Mehdi Moezi, MD, FACP Physician
-
Hema Vankayala, MD Physician
-
Kevin K. Hunger, MD Physician
-
Brian Deegan, MD, PhD, DABR Physician Medical Clinic
-
Emily Tanzler, MD, DABR Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.49M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.66M
Blend (final)
Blend
$7.77M
Owner & transaction history
Steel Mill Holddings LLC · 3 yrs held
Steel Mill Holddings LLC
since 2022
Last sale
$9.8M
7 recorded transactions
Zoning & alternative use
PUD · Fleming Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$11.0M
+121.4%
Office building
$8.5M
+69.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fleming Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fleming Island submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$8,825,000
ML approach
$7,490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,990,000
Current use
RESTAURANT
$11,045,000
Change: +121% · Conversion: Difficult
OFFICE BUILDING
$8,465,000
Change: +70% · Conversion: Easy
Blend value · Realmo final
$7.77M
Range $6.99M – $8.55M · ±10% · vs last sale $9.80M (Dec 20 2021)
Last sale anchor
$9.80M
Dec 20 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$394 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$81,052
Tax year 2023
Assessed value
$4,370,889
Assessed 2023
Previous assessed
$4,370,889
+0.0% YoY
Effective rate
1.85%
On assessed value
Assessed land
$498,760
Assessed improvement
$3,872,129
Land market value
$498,760
Improvement market value
$3,872,129
Total market value
$4,370,889
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2014
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
OTHER
Stories
1
Rooms
24
Total area
19,717 SF
Lot
2.29 ac (99,708 SF)
Zoning code
PUD
APN
08-05-26-014266-027-06
UPID
US18-7589323
Jurisdiction
CLAY
Zoning & alternative use
PUD · Fleming Island, FL
Zoning PUD · permitted uses
PUD · Fleming Island, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fleming Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$5.0M
RESTAURANT
Est. value
$11.0M
OFFICE BUILDING
Est. value
$8.5M
MEDICAL BUILDING Current
RESTAURANT
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2014
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
24
Lot
2.29 ac
Current owner
From public records · entity-resolved
Steel Mill Holddings LLC
Entity
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2022
$530,000
Steel Mill Holddings LLC
Village Square I LLC
Warranty Deed
$513,000 · Berkshire Bank
Dec 20, 2021
$9,804,600
Mmac 300 Jacksonville Fl LLC
Fleming Island Holdings LLC
Special Warranty Deed
—
Aug 19, 2013
$575,000
Fleming Island Holdings LLC
Tjb Properties LLC
Grant Deed
—
Jan 22, 2013
—
Tjb Properties LLC
Village Square 1 LLC Coc
Trustees Deed
related
—
Jan 9, 2013
—
Jacksonville Bk
Clerk Of Court Of Clay County
Trustees Deed
related
—
—
—
Fleming Island Holdings LLC
—
Deed Of Trust
related
$5,072,000 · Bank Of America
—
—
Fleming Island Holdings LLC
—
Deed Of Trust
related
$1,500,000 · Bank Of America
—
—
Village Square 1 LLC
—
Deed Of Trust
related
$120,000 · Oceanside Bank
—
—
Village Square 1 LLC
—
Deed Of Trust
related
$360,000 · Oceanside Bank
—
—
Village Square 1 LLC
—
Deed Of Trust
related
$521,629 · Oceanside Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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