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    Property profile & analytics

    3901 Carmichael Ave Jacksonville, FL 32207

    • Office buildings
    • 15,284 SF
    • 2.94 lot acres
    For Sale
    View listing
    $600,000
    Last Sale
    Jun 04, 2025
    $2,600,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7934472
    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

    • Daphne Hayes / Nurse Practitioner / Counselor
    • River Region Human Services / Charitable Organization / Social Service Agency
    • River Region Methadone Clinic / Medical Clinic

    Property Details for 3901 Carmichael Ave

    Year built
    1964
    Construction
    WOOD
    Lot size
    2.94 lot acres
    Property size
    15,284 SF
    Zone code
    CRO
    Property type
    Office buildings
    APN
    129555-0100
    APU
    1295550100

    Description

    This exceptional 23,940-square-foot office building in Jacksonville, Florida, presents a compelling value-add investment opportunity. Located at 3901 Carmichael Ave, this single-story, Class B property sits on a 2.82-acre lot and boasts ample parking (4.2 spaces per 1,000 sq ft). Built in 1964 and extensively renovated in 2017 (over $900,000 invested), the building features a new roof, upgraded HVAC systems with extended warranties, new flooring, refreshed ceilings, and updated restrooms. Currently vacant, this adaptable space is zoned Duval County CRO and is ideal for a variety of uses, including creative, medical, and traditional office tenants. Its prime location near I-95 and Beach Boulevard, surrounded by retail, services, and residential communities, offers excellent visibility and accessibility. The property's strong pro-forma NOI of $335,160 translates to an attractive 9.59% pro-forma cap rate. The asking price is $3,495,000, and seller financing may be available to qualified buyers. This property offers a rare combination of location, quality, and flexibility, making it a highly desirable investment for owner-users and investors seeking a dependable, high-quality asset in a rapidly growing market. The property's proximity to major healthcare centers like Memorial Hospital Jacksonville, Baptist Health Medical Center, and UF Health Shands Hospital further enhances its appeal.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,910,000
      6.5%
      $3,605,000
      7%
      $3,350,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,883,000
      Market price range: $1.32M - $2.88M
      AI Estimate
      $1,865,000
      Market price range: $666k - $1.94M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,960,000
      Current use
      MEDICAL BUILDING
      $3,490,000
      Change: +78% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,360,000
      Change: +71% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,260,000
      Change: +66% Conversion: Difficult
      RETAIL STORES
      $2,765,000
      Change: +41% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $2,520,000
      Change: +29% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.622
    Latitude
    30.3021
    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
    $32,497
    $393,227
    $2,257,173
    $2,650,400
    -
    $393,227
    $2,257,173
    $2,650,400

    Comparable in this City

    • Value Estimation
      $1,065,000
      7,212 SF

      1501 San Marco Blvd

      OFFICE BUILDING • 7,212 SF
      1501 San Marco Blvd, Jacksonville, FL 32207-2926
      View Details
    • Value Estimation
      $865,000
      4,970 SF

      4718 Philips Hwy

      OFFICE BUILDING • 4,970 SF
      4718 Philips Hwy, Jacksonville, FL 32207-7268
      View Details
    • Value Estimation
      $1,390,000
      11,232 SF

      5776 Saint Augustine Rd

      OFFICE BUILDING • 11,232 SF
      5776 Saint Augustine Rd, Jacksonville, FL 32207-8030
      View Details
    • Value Estimation
      $1,260,000
      11,111 SF

      3311 Bch Blvd

      OFFICE BUILDING • 11,111 SF
      3311 Bch Blvd, Jacksonville, FL 32207-3704
      View Details
    • Value Estimation
      $525,000
      3,312 SF

      5012 Sharon Ter

      OFFICE BUILDING • 3,312 SF
      5012 Sharon Ter, Jacksonville, FL 32207-4939
      View Details
    • Value Estimation
      $11,540,000
      122,822 SF

      1701 Prudential Dr

      OFFICE BUILDING (MULTI-STORY) • 122,822 SF
      1701 Prudential Dr, Jacksonville, FL 32207-8152
      View Details

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      Renovated Medical/Office Campus For Sale

      Move-in ready, fully renovated medical/office campus with new HVAC and roof.
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      Downtown Southbank Flex/Office Building

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      Renovated Office Building For Sale

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    Similar Nearby for Lease

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      San Marco East Plaza Offices

      375,000 SF office complex in Jacksonville's South Metro District.
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    • $19 SF/Yr
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      Southbank Freestanding Office Building

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      San Marco Standalone Office Space

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      Fairmont Street Business Park

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    3901 Carmichael Ave
    Jacksonville, FL 32207
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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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