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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2700 Riverside Ave Jacksonville, FL 32205-8275

    • Medical offices
    • 12,992 SF
    • 0.79 lot acres
    OFF-MARKET
    Last Sale
    Oct 25, 2022
    $3,738,000
    Value Estimations
    $3,405,000
    Show details
    Cap Rate Potential
    6.7%
    Medical offices
    Location Intelligence
    Property ID
    US18-9792167
    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

    • Dr. Kenneth Powell / Pain Management Physician / Practitioner Service Location
    • Dr. Mary Vukmir / Practitioner Service Location / Physical Therapist
    • Dr. William Neway / Orthopedic Surgeon
    • Coastal Health - Physical Therapy / Physical Therapy Clinic
    • Brian Borden / Physical Therapist

    Property Details for 2700 Riverside Ave

    Year built
    1964
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.79 lot acres
    Property size
    12,992 SF
    Zone code
    CRO
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    065339-0000
    APU
    653390000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,135,000
      ML approach
      $3,190,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,510,000
      6.5%
      $3,240,000
      7%
      $3,005,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,553,000
      Market price range: $1.40M - $4.55M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,970,000
      Current use
      COMMERCIAL (GENERAL)
      $3,275,000
      Change: +10% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,770,000
      Change: -7% Conversion: Difficult
      OFFICE BUILDING
      $2,525,000
      Change: -15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.6923
    Latitude
    30.3078
    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
    $61,458
    $787,050
    $2,602,650
    $3,389,700
    -
    $787,050
    $2,602,650
    $3,389,700

    Comparable in this City

    • Value Estimation
      $235,000
      1,774 SF

      1502 Dancy St

      MEDICAL BUILDING • 1,774 SF
      1502 Dancy St, Jacksonville, FL 32205-9004
      View Details
    • Value Estimation
      $320,000
      4,480 SF

      1395 Cassat Ave

      MEDICAL BUILDING • 4,480 SF
      1395 Cassat Ave, Jacksonville, FL 32205-9616
      View Details
    • Value Estimation
      $300,000
      1,316 SF

      1166 Ln S Ave

      MEDICAL BUILDING • 1,316 SF
      1166 Ln S Ave, Jacksonville, FL 32205-6234
      View Details
    • Value Estimation
      $1,250,000
      11,595 SF

      888 Ln S Ave

      MEDICAL BUILDING • 11,595 SF
      888 Ln S Ave, Jacksonville, FL 32205-4705
      View Details
    • Value Estimation
      $1,710,000
      6,832 SF

      6545 Normandy Blvd

      MEDICAL BUILDING • 6,832 SF
      6545 Normandy Blvd, Jacksonville, FL 32205-6201
      View Details
    • Value Estimation
      $220,000
      2,592 SF

      953 Ln S Ave

      MEDICAL BUILDING • 2,592 SF
      953 Ln S Ave, Jacksonville, FL 32205-4706
      View Details

    Similar Nearby for Sale

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      6,447 SF

      Riverside Ave Office Complex

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      Spacious property suitable for retail, office, or industrial use.
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      6,447 SF

      Restored Riverside Avenue Office Property

      Meticulously restored office property in Jacksonville's desirable Riverside submarket.
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    • $950,000

      Warehouse and Office Space Available

      1.33 acres with warehouse and office space for sale.
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      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      70,780 SF

      Normandy Station Office Suites

      West Jacksonville Office Space Available
      7200 Normandy Blvd, Jacksonville, FL 32205
      View Details
    • $3,200 /Mo

      Medical Office on Lane Avenue

      Professional medical office space for lease in Jacksonville, Florida.
      945 Lane Ave S, Jacksonville, FL 32205
      View Details
    • $17 SF/Yr
      5,000 SF

      Prime Murray Hill Creative Office Space

      High-visibility creative office suites available.
      4300 Plymouth St, Jacksonville, FL 32205
      View Details
    • $2,190,000
      13,126 SF

      High-Traffic Office Building for Rent

      Office building with high visibility and regional connectivity.
      7002 Normandy Blvd, Jacksonville, FL 32205
      View Details
    • $1,075,000
      3,034 SF

      Versatile Flex Space Available

      Adaptable space suitable for retail, office, or flex use.
      1044 Cassat Ave, Jacksonville, FL 32205
      View Details
    • $12 SF/Yr
      2,400 SF

      Westside Office Building For Rent

      Office building with two units, built in 2005.
      1460 Cassat Ave, Jacksonville, FL 32205
      View Details
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    Jacksonville, FL 32205-8275
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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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