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

    3618 Morton St Jacksonville, FL 32217-2507

    • Office buildings
    • 1,296 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    8%
    Office buildings
    Location Intelligence
    Property ID
    US18-3335924
    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

    • Office of the Solicitor / Labor Union

    Property Details for 3618 Morton St

    Year built
    1955
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.17 lot acres
    Property size
    1,296 SF
    Zone code
    RMD-D
    Property type
    Office buildings
    APN
    154139-0010
    APU
    1541390010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $330,000
      6.5%
      $305,000
      7%
      $285,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $175,000
      Current use
      COMMERCIAL (GENERAL)
      $325,000
      Change: +86% Conversion: Easy
      MEDICAL BUILDING
      $295,000
      Change: +69% Conversion: Easy
      AUTO REPAIR, GARAGE
      $275,000
      Change: +57% Conversion: Difficult
      RETAIL STORES
      $235,000
      Change: +34% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $210,000
      Change: +19% Conversion: Difficult
      WAREHOUSE, STORAGE
      $155,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.624
    Latitude
    30.2592
    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
    $2,086
    $49,894
    $87,106
    $137,000
    -
    $49,894
    $87,106
    $137,000

    Comparable in this City

    • Value Estimation
      $220,000
      2,500 SF

      8111 Old Kings Rd S Ste, Unit 1

      OFFICE BUILDING • 2,500 SF
      8111 Old Kings Rd S Ste, Jacksonville, FL 32217-9553
      View Details
    • Value Estimation
      $315,000
      2,158 SF

      6450 Saint Augustine Rd

      OFFICE BUILDING • 2,158 SF
      6450 Saint Augustine Rd, Jacksonville, FL 32217-2810
      View Details
    • Value Estimation
      $215,000
      1,270 SF

      8613 Old Kings Rd S Ste, Unit 502

      OFFICE BUILDING • 1,270 SF
      8613 Old Kings Rd S Ste, Jacksonville, FL 32217-4849
      View Details
    • Value Estimation
      $215,000
      1,270 SF

      8613 Old Kings Rd S Ste, Unit 601

      OFFICE BUILDING • 1,270 SF
      8613 Old Kings Rd S Ste, Jacksonville, FL 32217-4863
      View Details
    • Value Estimation
      $125,000
      1,270 SF

      8613 Old Kings Rd S Ste, Unit 602

      OFFICE BUILDING • 1,270 SF
      8613 Old Kings Rd S Ste, Jacksonville, FL 32217-4863
      View Details
    • Value Estimation
      $240,000
      2,522 SF

      4043 Baymeadows Rd

      OFFICE BUILDING • 2,522 SF
      4043 Baymeadows Rd, Jacksonville, FL 32217-4638
      View Details

    Similar Nearby for Sale

    • $699,000
      2,870 SF

      Freestanding Building on San Jose

      2,870± SF building suitable for retail or medical office.
      6052 San Jose Blvd W, Jacksonville, FL 32217
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    • $600,000
      2,063 SF

      Jacksonville Medical Office Building

      Prime Medical Office, 2,063 SF, $600K
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    • $1,592,979
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      Jacksonville Clinic in Dense Area

      Clinic in Jacksonville, Florida, surrounded by a dense residential area.
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    • $575,000
      2,440 SF

      Jacksonville Executive Office Condos

      Prime Southside location, 2 units, 2440 sq ft
      6277 Dupont Station Ct, Jacksonville, FL 32217
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    • $285,000

      Brierwood Office Park: Prime Jacksonville Office

      Jacksonville Office Building: $285,000, 1,306 sq ft lot.
      8613 Old Kings Rd, Jacksonville, FL 32217
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    • $600,000
      2,063 SF

      Baymeadows Road Office Space

      Office space available for sale on Baymeadows Road.
      4232 Baymeadows Rd, Jacksonville, FL 32217
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      650 SF

      Office Space in Jacksonville, FL

      Office space for rent in a prime Jacksonville location.
      4241 Baymeadows Rd, Jacksonville, FL 32217
      View Details
    • Contact for pricing
      1,652 SF

      Office/Retail/Medical Space Available

      Office, retail, or medical spaces for lease with efficient layouts.
      3850 San Jose Park Dr, Jacksonville, FL 32217
      View Details
    • $14 SF/Yr
      4,920 SF

      University Blvd Office Space Available

      Professional or medical spaces for lease on University Blvd.
      1712 University Blvd S, Jacksonville, FL 32217
      View Details
    • $14 SF/Yr
      1,400 SF

      University Blvd Office Space Available

      Professional or medical office spaces for lease on University Blvd.
      1736 University Blvd S, Jacksonville, FL 32217
      View Details
    • Contact for pricing
      612 SF

      Baymeadows Road Office Space

      Single-story office buildings with excellent visibility and ample parking.
      4221 Baymeadows Rd, Jacksonville, FL 32217
      View Details
    • $1,900 /Mo
      1,200 SF

      New Commercial Space in Jacksonville

      New construction commercial space with flexible layouts and pre-construction incentives.
      Dupont Station Ct, Jacksonville, FL 32217
      View Details
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    3618 Morton St
    Jacksonville, FL 32217-2507
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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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