Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    406 Old Hard Rd Fleming Island, FL 32003-5312

    • Office Properties & Spaces
    • 36,702 SF
    • 1.69 lot acres
    OFF-MARKET
    Value Estimations
    $990,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4121295
    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

    • Burn Boot Camp / Physical Fitness Program / Gym
    • FirstStar Hr / Human Resource Consulting
    • KidsPark Fleming Island / Day Care Center / After School Program

    Property Details for 406 Old Hard Rd

    Year built
    2009
    Construction
    STEEL FRAME
    Lot size
    1.69 lot acres
    Property size
    36,702 SF
    Zone code
    PUD
    Property type
    Office Properties & Spaces
    APN
    08-05-26-014266-027-12
    APU
    8052601426602712

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $950,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,577,000
      Market price range: $1.58M - $8.98M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fleming Island
    County
    Clay
    State
    Florida
    Longitude
    -81.7173
    Latitude
    30.0838
    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
    $47,213
    $368,300
    $1,051,700
    $1,420,000
    -
    $368,300
    $1,051,700
    $1,420,000

    Comparable in this City

    • Value Estimation
      $770,000
      23,412 SF

      4371 Us Hwy 17

      OFFICE (GENERAL) • 23,412 SF
      4371 Us Hwy 17, Fleming Island, FL 32003-4812
      View Details
    • Value Estimation
      $410,000
      9,498 SF

      1520 Business Ctr Dr

      OFFICE (GENERAL) • 9,498 SF
      1520 Business Ctr Dr, Fleming Island, FL 32003-9011
      View Details
    • Value Estimation
      $270,000
      1,250 SF

      1845 Eastwest Pkwy Ste, Unit 18

      CONDOMINIUM OFFICES • 1,250 SF
      1845 Eastwest Pkwy Ste, Fleming Island, FL 32003-6408
      View Details
    • Value Estimation
      $270,000
      1,250 SF

      1845 Eastwest Pkwy Ste, Unit 6

      CONDOMINIUM OFFICES • 1,250 SF
      1845 Eastwest Pkwy Ste, Fleming Island, FL 32003-6405
      View Details
    • Value Estimation
      $1,290,000
      5,994 SF

      4607 Us Hwy 17

      CONDOMINIUM OFFICES • 5,994 SF
      4607 Us Hwy 17, Fleming Island, FL 32003-8255
      View Details
    • Value Estimation
      $270,000
      1,375 SF

      1835 Eastwest Pkwy Ste, Unit 12

      CONDOMINIUM OFFICES • 1,375 SF
      1835 Eastwest Pkwy Ste, Fleming Island, FL 32003-5310
      View Details

    Similar Nearby for Sale

    • $937,500

      Office Condos Near Highway 17

      Three combined office condo units suitable for various businesses.
      1835 6 & 7, Fleming Island, FL 32003
      View Details
    • Contact for pricing
      1.41 Acres

      Fleming Island Commercial Land Parcel

      1.41 Acres, High-Traffic Location
      2349 Village Square Pkwy, Fleming Island, FL 32003
      View Details
    • $850,000
      2.00 Acres

      Waterfront Acreage on Fleming Island

      Rare opportunity to own waterfront acreage on Fleming Island.
      1570 Riv Rise Pt, Fleming Island, FL 32003
      View Details
    • $1,853,000
      7,440 SF

      Fleming Island Retail Center

      7,440 SF Retail Investment Opportunity
      1915 Pkwy, Fleming Island, FL 32003
      View Details
    • $750,000

      Commercial Land Near Retail Hub

      Commercial land suitable for retail, office, or medical development.
      1853 County Road 220, Fleming Island, FL 32003
      View Details
    • $60,000
      73,652 SF

      Established Salon Business For Sale

      Salon business for sale in a busy shopping center.
      1545 County Road 220, Fleming Island, FL 32003
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,620 SF

      Move-in Ready Medical Space

      Medical space for rent in Fleming Island medical campus.
      1675 Eagle Harbor Pkwy, Fleming Island, FL 32003
      View Details
    • $10 SF/Yr
      5,829 SF

      Orange Park Office Space Available

      Flexible Offices, Coworking & More
      1845 Town Center Blvd, Fleming Island, FL 32003
      View Details
    • $20 SF/Yr
      8,320 SF

      Fleming Island Office Building

      Prime Medical/Office Space Available
      4375 Us Highway 17, Fleming Island, FL 32003
      View Details
    • Contact for pricing
      8,740 SF

      Medical Office Space For Rent

      Move-in ready medical office space near Hwy 17.
      1681 Eagle Harbor Pkwy, Fleming Island, FL 32003
      View Details
    • Contact for pricing
      1,275 SF

      Retail/Office Space on US Hwy 17

      Retail or office space available for rent on US Hwy 17.
      3555 Us Highway 17, Fleming Island, FL 32003
      View Details
    • $25 SF/Yr
      45,000 SF

      Fleming Island Medical Office Space

      Prime Medical Office Space, Fleming Island, FL
      2349 Village Square Pkwy, Fleming Island, FL 32003
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    406 Old Hard Rd
    Fleming Island, FL 32003-5312
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.