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

    6999 Merrill Rd Ste, Unit 1 Jacksonville, FL 32277-2690

    • Strip malls
    • 8,656 SF
    • 9.68 lot acres
    OFF-MARKET
    Value Estimations
    $1,345,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5459981
    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

    • Strip malls

    Property Details for 6999 Merrill Rd Ste

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    9.68 lot acres
    Property size
    8,656 SF
    Zone code
    CCG-1
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    113198-0060
    APU
    1131980060

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,390,000
      Current use
      COMMERCIAL (GENERAL)
      $2,185,000
      Change: +57% Conversion: Easy
      MEDICAL BUILDING
      $1,980,000
      Change: +42% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,845,000
      Change: +33% Conversion: Difficult
      OFFICE BUILDING
      $1,680,000
      Change: +21% Conversion: Moderate
      RETAIL STORES
      $1,565,000
      Change: +13% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,430,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.5807
    Latitude
    30.3532
    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
    $0.00
    $2,045,000
    $5,285,000
    $7,330,000
    -
    $2,045,000
    $5,285,000
    $7,330,000

    Comparable in this City

    • Value Estimation
      $695,000
      16,128 SF

      6180 Ft Caroline Rd

      SHOPPING CENTER, STRIP CENTER • 16,128 SF
      6180 Ft Caroline Rd, Jacksonville, FL 32277-2095
      View Details
    • Value Estimation
      $570,000
      12,960 SF

      6035 Ft Caroline Rd

      SHOPPING CENTER, STRIP CENTER • 12,960 SF
      6035 Ft Caroline Rd, Jacksonville, FL 32277-1807
      View Details
    • Value Estimation by Request
      3,938 SF

      3641 Rogero Rd, Unit 36353633

      SHOPPING CENTER, STRIP CENTER • 3,938 SF
      3641 Rogero Rd, Jacksonville, FL 32277-2555
      View Details
    • Value Estimation
      $1,160,000
      11,176 SF

      7293 Merrill Rd

      SHOPPING CENTER, STRIP CENTER • 11,176 SF
      7293 Merrill Rd, Jacksonville, FL 32277-3863
      View Details
    • Value Estimation by Request
      6,800 SF

      2905 Townsend Blvd, Unit 2905-2919

      SHOPPING CENTER, STRIP CENTER • 6,800 SF
      2905 Townsend Blvd, Jacksonville, FL 32277-3709
      View Details
    • Value Estimation by Request
      2,580 SF

      5549 Ft Caroline Rd

      SHOPPING CENTER, STRIP CENTER • 2,580 SF
      5549 Ft Caroline Rd, Jacksonville, FL 32277-1748
      View Details

    Similar Nearby for Sale

    • $380,000

      High-Traffic Commercial Property For Sale

      Well-maintained commercial property in high-traffic location, ideal for investors.
      7120 Merrill Rd, Jacksonville, FL 32277
      View Details
    • $928,000

      Commercial Land on Merrill Road

      Two lots totaling 0.50 acres with frontage on Merrill Road.
      7130 Merrill Rd, Jacksonville, FL 32277
      View Details
    • $1,700,000
      9.96 Acres

      Prime Jacksonville Riverfront Land

      9.96 Acres, Residential Development Potential
      5969 Edenfield Rd, Jacksonville, FL 32277
      View Details
    • $590,000
      Pending

      Jacksonville Multifamily Investment Opportunity

      Four-unit property near Jacksonville University with income potential.
      5718 Merrill Rd, Jacksonville, FL 32277
      View Details
    • $899,900

      New Jacksonville Quadplex Investment Opportunity

      Turnkey 2024 quadplex with reliable tenants near Jacksonville University.
      5669 George Ct, Jacksonville, FL 32277
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    • $1,100,000

      Corner Parcel on Merrill Road

      Commercial land with frontage on Merrill Rd near I-295.
      Dames Point Crossing Blvd, Jacksonville, FL 32277
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Arlington Submarket

      Retail space for sublease in Jacksonville, near Jacksonville University.
      6060-10 Fort Caroline Rd, Jacksonville, FL 32277
      View Details
    • Contact for pricing
      7,750 SF

      Dames Pointe Plaza Retail Spaces

      Jacksonville Retail Center - Multiple Units Available
      6999 Merrill Rd, Jacksonville, FL 32277
      View Details
    • $2,000 /Mo
      1,200 SF

      Versatile Retail Spaces For Lease

      Flexible commercial spaces suitable for various businesses in high-traffic area.
      2930 Justina Rd, Jacksonville, FL 32277
      View Details
    • Contact for pricing
      12,937 SF

      Retail Space Near Jacksonville University

      12,937 SF retail space with drive-thru, near Jacksonville University.
      5634 Merrill Rd, Jacksonville, FL 32277
      View Details
    • Contact for pricing
      975 SF

      Merrill Road Office Space Available

      Office space for rent at 8011 Merrill Rd, Jacksonville, FL.
      8011 Merrill Rd, Jacksonville, FL 32277
      View Details
    • $4,500 /Mo
      2,400 SF

      Merrill Road Office Space Available

      Office space suitable for medical, wellness, or professional services.
      7645 Merrill Rd, Jacksonville, FL 32277
      View Details
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    Jacksonville, FL 32277-2690
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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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