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

    3197 Cortez Rd Jacksonville, FL 32246-3723

    • Office buildings
    • 4,500 SF
    • 0.58 lot acres
    OFF-MARKET
    Last Sale
    Oct 12, 2023
    $745,000
    Value Estimations
    $755,000
    Show details
    Cap Rate Potential
    9.2%
    Office buildings
    Location Intelligence
    Property ID
    US18-2001566
    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

    • Hurricane Junior Golf Tour / Association / Organization

    Property Details for 3197 Cortez Rd

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.58 lot acres
    Property size
    4,500 SF
    Zone code
    CO
    Property type
    Office buildings
    APN
    163520-0000
    APU
    1635200000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $745,000
      ML approach
      $775,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $541,000
      Market price range: $472k - $1.39M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $875,000
      Current use
      COMMERCIAL (GENERAL)
      $1,135,000
      Change: +30% Conversion: Easy
      MEDICAL BUILDING
      $1,030,000
      Change: +18% Conversion: Easy
      AUTO REPAIR, GARAGE
      $960,000
      Change: +10% Conversion: Difficult
      RETAIL STORES
      $815,000
      Change: -7% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $720,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.5274
    Latitude
    30.2882
    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
    $8,882
    $125,515
    $356,185
    $481,700
    -
    $125,515
    $356,185
    $481,700

    Comparable in this City

    • Value Estimation
      $1,085,000
      5,562 SF

      2801 Saint Johns Blf Rd S Ste, Unit 201

      OFFICE BUILDING • 5,562 SF
      2801 Saint Johns Blf Rd S Ste, Jacksonville, FL 32246-3862
      View Details
    • Value Estimation
      $26,450,000
      117,380 SF

      4601 Touchton E Rd, Unit 300

      OFFICE BUILDING (MULTI-STORY) • 117,380 SF
      4601 Touchton E Rd, Jacksonville, FL 32246-4484
      View Details
    • Value Estimation
      $1,180,000
      9,687 SF

      9830 Anders Blvd

      OFFICE BUILDING • 9,687 SF
      9830 Anders Blvd, Jacksonville, FL 32246-6427
      View Details
    • Value Estimation
      $985,000
      7,696 SF

      3225 Anniston Rd

      OFFICE BUILDING • 7,696 SF
      3225 Anniston Rd, Jacksonville, FL 32246-4605
      View Details
    • Value Estimation
      $1,235,000
      10,626 SF

      3131 Saint Johns Blf S Rd

      OFFICE BUILDING • 10,626 SF
      3131 Saint Johns Blf S Rd, Jacksonville, FL 32246-3759
      View Details
    • Value Estimation
      $1,275,000
      5,196 SF

      4855 Town Ctr Pkwy

      OFFICE BUILDING • 5,196 SF
      4855 Town Ctr Pkwy, Jacksonville, FL 32246-8437
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      82,744 SF

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      Five-story, 82,744 SF office building in Southside Jacksonville.
      10060 Skinner Lake Dr, Jacksonville, FL 32246
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      11,968 SF

      Jacksonville Office Building For Sale

      11,968 SF Office, Ample Parking
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    • $3,500,000
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      Jacksonville Office Complex Investment

      High-yield, fully leased office buildings.
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      Jacksonville Class A Office Condo

      Prime Office Space, Tapestry Park, FL
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    • Contact for pricing
      0.57 Acres

      Jacksonville Vacant Land Opportunity

      Vacant land in Jacksonville's Southside, convenient to amenities.
      Imogene Ave, Jacksonville, FL 32246
      View Details
    • $1,500,000
      5,103 SF

      Retail Property Near Town Center

      Retail property in close proximity to prominent retail areas.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      140,423 SF

      Class A Office Space Available

      Move-in ready office space with abundant meeting space and furniture.
      4600 Touchton Rd Bldg 100, Jacksonville, FL 32246
      View Details
    • $25 SF/Yr
      56,481 SF

      Jacksonville Office Building for Lease

      Prime Office Space, Duval County, FL
      9995 Gate Pkwy, Jacksonville, FL 32246
      View Details
    • Contact for pricing
      4,348 SF

      High-End Office Space Available

      Office space with lake views, high-end finishes, and ample parking.
      9995 Gate Pkwy, Jacksonville, FL 32246
      View Details
    • Contact for pricing
      33,169 SF

      Office Space in Jacksonville, Florida

      Office space available for lease in Jacksonville, Florida.
      4800 Deerwood Campus Pkwy, Jacksonville, FL 32246
      View Details
    • Contact for pricing
      3,118 SF

      Medical Office Space Available

      Medical office space with ample parking and convenient location.
      9726 Touchton Rd, Jacksonville, FL 32246
      View Details
    • Contact for pricing
      16,400 SF

      4907 Big Island Dr

      Super regional malls • 16,400 SF
      4907 Big Island Dr, Jacksonville, FL 32246
      View Details
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    Jacksonville, FL 32246-3723
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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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