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Property profile & analytics
OFF-MARKET
Estimated value
$36,720,000
Hotels
245 Water St Jacksonville, FL 32202-4417
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-3879491
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1987
Construction
STEEL FRAME
Total area
287,042 SF
Lot
1.04 ac (45,448 SF)
Zoning code
CCBD
APN
074471-2900
UPID
US18-3879491
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
-
The Dinner Detective Murder Mystery Dinner Show - Jacksonville, Florida Restaurant Theater & Performing Art Venue
-
Juliette's Bistro Restaurant
-
Omni Hotels & Resorts Hotel & Motel
-
J Bar Bar & Pub
-
Jacksonville River City Downtown Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$38.53M
Blend (final)
Blend
$36.72M
Owner & transaction history
Lr Jax LLC · 5 yrs held
Lr Jax LLC
since 2021
Last sale
$35.1M
2 recorded transactions
Zoning & alternative use
CCBD · Jacksonville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$52.0M
+6.4%
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 Jacksonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jacksonville 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
$38,145,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$48,850,000
Current use
RETAIL STORES
$51,965,000
Change: +6% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$47,375,000
Change: -3% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$46,085,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$36.72M
Range $33.05M – $40.39M · ±10% · vs last sale $35.10M (Feb 26 2021)
Last sale anchor
$35.10M
Feb 26 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
$128 / 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
$625,157
Tax year 2023
Assessed value
$32,702,400
Assessed 2023
Previous assessed
$33,885,200
-3.5% YoY
Effective rate
1.91%
On assessed value
Assessed land
$1,372,140
Assessed improvement
$31,330,260
Land market value
$1,372,140
Improvement market value
$31,330,260
Total market value
$32,702,400
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
WALL UNIT
Stories
16
Rooms
354
Bathrooms
185
Total area
287,042 SF
Lot
1.04 ac (45,448 SF)
Zoning code
CCBD
APN
074471-2900
UPID
US18-3879491
Jurisdiction
DUVAL
Zoning & alternative use
CCBD · Jacksonville, FL
Zoning CCBD · permitted uses
CCBD · Jacksonville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jacksonville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$48.9M
RETAIL STORES
Est. value
$52.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$47.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$46.1M
HOTEL/MOTEL Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
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
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
16
Rooms
354
Bathrooms
185
Lot
1.04 ac
Current owner
From public records · entity-resolved
Lr Jax LLC
Entity
Free & Clear · 5 yrs held
Mailing address
185 W BROADWAY AVE #101, JACKSON, WY 83001-8633
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2021
$35,100,000
Lr Jax LLC
Omni Jacksonville Corporation
Special Warranty Deed
—
Feb 20, 2002
$52,356,200
Enterprise Center Hotel LP
—
Grant Deed
related
—
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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