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Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Medical Office Space
3604 University S Blvd Jacksonville, FL 32216-4241
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-7876285
Property summary
AI-generated overview
This exceptional 10,200-square-foot medical office building, located at 3604 University Blvd S in Jacksonville, Florida (zip code 32216), presents a unique investment opportunity. Built in 1970 and extensively renovated in 2023, this Class B property boasts a prime Southside location, directly across from Memorial Hospital and Brooks Rehabilitation, ensuring high visibility and significant daily traffic (33,000+ vehicles). The two-story building features 10-foot ceilings, one elevator, and ample parking with 36 spaces. The entire 10,200 square feet is currently vacant and divisible into spaces as small as 1,000 square feet, offering flexibility for various medical practices. The property sits on a 0.37-acre lot and is zoned CRO. Building amenities include a single elevator and ample parking. The gross rent is $22.00 per square foot, with tenants only responsible for electricity. This property offers a rare chance to establish a thriving medical practice in a high-demand area with excellent access and visibility. The APN is 135754-0000. The cross street is Hickson Road.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,288 SF
Lot
0.37 ac (16,204 SF)
Zoning code
CRO
APN
135754-0000
UPID
US18-7876285
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
-
First Coast Podiatry PA Physician
-
Rheumotllogy Associates Pediatrician
-
Family Medicine & Rehab Medical Clinic
-
Dr. Syed S. Hussain, MD Pediatrician Physician
-
The Erler Law Group Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.40M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$1.40M
Owner & transaction history
3604 University Blvd South Holdings · 1 yrs held
3604 University Blvd South Holdings
since 2024
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
CRO · Jacksonville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.2M
+7.7%
Office building
$2.1M
+4.5%
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
$1,400,000
ML approach
$1,400,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,035,000
Current use
AUTO REPAIR, GARAGE
$2,195,000
Change: +8% · Conversion: Difficult
OFFICE BUILDING
$2,130,000
Change: +4% · Conversion: Easy
RETAIL STORES
$1,860,000
Change: -9% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,700,000
Change: -17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,650,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±10% · vs last sale $1.40M (Nov 7 2024)
Last sale anchor
$1.40M
Nov 7 2024
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
$136 / 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
$17,901
Tax year 2023
Assessed value
$989,900
Assessed 2023
Previous assessed
$917,600
+7.9% YoY
Effective rate
1.81%
On assessed value
Assessed land
$96,702
Assessed improvement
$893,198
Land market value
$96,702
Improvement market value
$893,198
Total market value
$989,900
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
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
2
Units
36
Rooms
36
Bathrooms
36
Total area
10,288 SF
Lot
0.37 ac (16,204 SF)
Zoning code
CRO
APN
135754-0000
UPID
US18-7876285
Jurisdiction
DUVAL
Zoning & alternative use
CRO · Jacksonville, FL
Zoning CRO · permitted uses
CRO · 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
MEDICAL BUILDING Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.1M
RETAIL STORES
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1970
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
36
Rooms
36
Bathrooms
36
Lot
0.37 ac
Current owner
From public records · entity-resolved
3604 University Blvd South Holdings
Entity
Mailing address
3604 UNIVERSITY BLVD S, JACKSONVILLE, FL 32216-4241
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 7, 2024
$1,400,000
3604 University Blvd South Holdings
University Pain Specialists LLC
Special Warranty Deed
$1,300,000 · Jacksonville Lending Group LLC
May 13, 2010
$535,000
University Pain Specialists Ll
University Blvd LLC
Warranty Deed
—
Jan 9, 2006
—
3604 University Blvd LLC
Trust 3883
Warranty Deed
$730,000 · Centerbank Of Jacksonville NA
Oct 19, 2005
$603,000
Trust 3883
Memorial Medical Dev INC Coc
Trustees Deed
—
Nov 14, 1997
$100,000
Memorial Medical Dev INC
Salisbury Investments INC
Grant Deed
—
—
—
University Pain Specialists Ll
—
Deed Of Trust
related
$1,100,000 · Hancock Bank
—
—
Memorial Medical Development
—
Deed Of Trust
related
$1,040,000 · Atlantic Coast Federal
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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