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Property profile & analytics
OFF-MARKET
Estimated value
$3,670,000
Office buildings
4040 Philips Hwy Jacksonville, FL 32207-6835
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-2912280
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,364 SF
Lot
4.46 ac (194,432 SF)
Zoning code
IBP
APN
126004-0000
UPID
US18-2912280
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
-
Teco Peoples Gas Gas Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.04M
Comparable Approach
Comparable
$3.69M
Blend (final)
Blend
$3.67M
Owner & transaction history
Peoples Gas System INC · 3 yrs held
Peoples Gas System INC
since 2023
1 recorded transaction
Zoning & alternative use
IBP · Jacksonville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.9M
+78.0%
Neighborhood: shopping center
$4.7M
+71.3%
Auto repair, garage
$4.6M
+66.1%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,460,000
6.5%
$5,040,000
7%
$4,680,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,740,000
Current use
MEDICAL BUILDING
$4,880,000
Change: +78% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$4,700,000
Change: +71% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,555,000
Change: +66% · Conversion: Difficult
RETAIL STORES
$3,870,000
Change: +41% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$3,525,000
Change: +29% · Conversion: Easy
Blend value · Realmo final
$3.67M
Range $3.30M – $4.04M · ±10%
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
$172 / 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
$61,041
Tax year 2023
Assessed value
$3,228,200
Assessed 2023
Previous assessed
$3,049,000
+5.9% YoY
Effective rate
1.89%
On assessed value
Assessed land
$588,060
Assessed improvement
$2,640,140
Land market value
$588,060
Improvement market value
$2,640,140
Total market value
$3,228,200
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
2
Rooms
18
Bathrooms
30
Total area
21,364 SF
Lot
4.46 ac (194,432 SF)
Zoning code
IBP
APN
126004-0000
UPID
US18-2912280
Jurisdiction
DUVAL
Zoning & alternative use
IBP · Jacksonville, FL
Zoning IBP · permitted uses
IBP · 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
OFFICE BUILDING Current
Est. value
$2.7M
MEDICAL BUILDING
Est. value
$4.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.7M
AUTO REPAIR, GARAGE
Est. value
$4.6M
RETAIL STORES
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
OFFICE BUILDING Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Rooms
18
Bathrooms
30
Lot
4.46 ac
Current owner
From public records · entity-resolved
Peoples Gas System INC
Entity
Free & Clear · 3 yrs held
Mailing address
702 N FRANKLIN ST, TAMPA, FL 33602-4429
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2023
—
Peoples Gas System INC
Peoples Gas System
Intrafamily Transfer
related
—
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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