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    Property profile & analytics

    6737 Southpoint Dr Jacksonville, FL 32216

    • Office buildings
    • 134,240 SF
    • 8.13 lot acres
    For Lease
    View listing
    $24 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6333799
    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 buildings

    Property Details for 6737 Southpoint Dr

    Year built
    1983
    Construction
    CONCRETE
    Lot size
    8.13 lot acres
    Property size
    134,240 SF
    Zone code
    IBP
    Property type
    Office buildings
    APN
    152854-1005
    APU
    1528541005

    Description

    Innovation Park, located at 6737 Southpoint Dr S in Jacksonville, Florida (zip code 32216), offers a significant opportunity for businesses seeking premium office space. This Class A building, constructed in 1992, boasts a total of 135,404 square feet, with a substantial 87,418 square feet currently vacant and available for lease. The property is zoned IBP and situated in Duval County, within a highly desirable Jacksonville submarket. The building is perfect for companies seeking a corporate office park setting. Multiple tenancy options are available, with a maximum contiguous space of 43,550 square feet. This presents a unique chance to secure a large, contiguous block of space or to accommodate multiple tenants within this prestigious location. The property's size and location make it an ideal choice for businesses looking to establish or expand their presence in Jacksonville's thriving commercial market. The building's executive office subtype caters to businesses requiring a sophisticated and professional work environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $34,320,000
      6.5%
      $31,680,000
      7%
      $29,420,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $23,297,000
      Market price range: $16.6M - $38.9M
      AI Estimate
      $16,410,000
      Market price range: $11.4M - $27.8M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $27,775,000
      Current use
      COMMERCIAL (GENERAL)
      $33,865,000
      Change: +22% Conversion: Easy
      AUTO REPAIR, GARAGE
      $28,630,000
      Change: +3% Conversion: Difficult
      MEDICAL BUILDING
      $26,580,000
      Change: -4% Conversion: Easy
      RETAIL STORES
      $24,300,000
      Change: -13% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.5893
    Latitude
    30.2536
    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
    $122,120
    $2,124,330
    $14,041,070
    $16,165,400
    -
    $2,124,330
    $14,041,070
    $16,165,400

    Comparable in this City

    • Value Estimation
      $10,455,000
      42,812 SF

      8464 Bch Blvd

      OFFICE BUILDING • 42,812 SF
      8464 Bch Blvd, Jacksonville, FL 32216-3131
      View Details
    • Value Estimation
      $22,075,000
      118,734 SF

      7077 Bonneval Rd

      OFFICE BUILDING (MULTI-STORY) • 118,734 SF
      7077 Bonneval Rd, Jacksonville, FL 32216-6010
      View Details
    • Value Estimation
      $910,000
      4,399 SF

      8762 Perimeter Park Blvd

      OFFICE BUILDING • 4,399 SF
      8762 Perimeter Park Blvd, Jacksonville, FL 32216-6347
      View Details
    • Value Estimation
      $880,000
      4,320 SF

      5995 Philips Hwy

      OFFICE BUILDING • 4,320 SF
      5995 Philips Hwy, Jacksonville, FL 32216-5916
      View Details
    • Value Estimation
      $615,000
      2,520 SF

      1946 Parental Home Rd

      OFFICE BUILDING • 2,520 SF
      1946 Parental Home Rd, Jacksonville, FL 32216-4582
      View Details
    • Value Estimation
      $21,130,000
      63,049 SF

      6420 Southpoint Pkwy, Unit 2

      OFFICE BUILDING (MULTI-STORY) • 63,049 SF
      6420 Southpoint Pkwy, Jacksonville, FL 32216-0946
      View Details

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      Jacksonville Office Investment Opportunity

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      102,960 SF

      Flex/Office Buildings in Jacksonville, Florida

      Two flex/office buildings totaling 102,960 SF on 14.5 acres.
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    • $1,285,000
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      Renovated medical office near hospitals, high visibility location.
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    Similar Nearby for Lease

    • $22 SF/Yr
      71,711 SF

      Prominent Southpoint Office Building

      Highly visible office building in Jacksonville's Southpoint submarket available for rent.
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      View Details
    • Contact for pricing
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      Office Space in Enterprise Park

      Office space for lease with easy highway access and visibility.
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      View Details
    • $14 SF/Yr
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      Jacksonville Office Building For Lease

      Two-story office building with existing safes, suitable for various businesses.
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    • $16 SF/Yr
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      Freestanding Office Building For Rent

      Freestanding office building with parking, near Downtown Jacksonville.
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    • Contact for pricing
      9,431 SF

      Southpoint Office Building For Lease

      78,589 SF office building with high visibility and ample parking.
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      View Details
    • $21 SF/Yr
      71,711 SF

      Fortune Plaza Executive Suites

      Jacksonville Office Space: 3,500-10,180 SF Available
      6622 Southpoint Dr, Jacksonville, FL 32216
      View Details
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    6737 Southpoint Dr
    Jacksonville, FL 32216
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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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