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Property profile & analytics
OFF-MARKET
Estimated value
$3,230,000
Medical Office Space
700 3rd St Neptune Beach, FL 32266-5072
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US18-0278740
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2003
Construction
STEEL FRAME
Total area
20,736 SF
Lot
1.02 ac (44,608 SF)
Zoning code
NC-1
APN
172912-0000
UPID
US18-0278740
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.03M
Blend (final)
Blend
$3.23M
Owner & transaction history
Neptune 31 LLC · 20 yrs held
Neptune 31 LLC
since 2006
6 recorded transactions
Zoning & alternative use
NC-1 · Neptune Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.2M
+10.4%
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 Neptune Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Neptune Beach 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$4,740,000
Current use
COMMERCIAL (GENERAL)
$5,230,000
Change: +10% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,420,000
Change: -7% · Conversion: Difficult
OFFICE BUILDING
$4,025,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$3.23M
Range $2.91M – $3.55M · ±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
$156 / 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
$66,407
Tax year 2023
Assessed value
$3,749,900
Assessed 2023
Previous assessed
$3,314,400
+13.1% YoY
Effective rate
1.77%
On assessed value
Assessed land
$1,089,000
Assessed improvement
$2,660,900
Land market value
$1,089,000
Improvement market value
$2,660,900
Total market value
$3,749,900
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
AC.PACKAGE
Stories
3
Units
5
Rooms
5
Bathrooms
42
Total area
20,736 SF
Lot
1.02 ac (44,608 SF)
Zoning code
NC-1
APN
172912-0000
UPID
US18-0278740
Jurisdiction
DUVAL
Zoning & alternative use
NC-1 · Neptune Beach, FL
Zoning NC-1 · permitted uses
NC-1 · Neptune Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Neptune Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$4.7M
COMMERCIAL (GENERAL)
Est. value
$5.2M
AUTO REPAIR, GARAGE
Est. value
$4.4M
OFFICE BUILDING
Est. value
$4.0M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
5
Rooms
5
Bathrooms
42
Lot
1.02 ac
Current owner
From public records · entity-resolved
Neptune 31 LLC
Entity
Mailing address
PO BOX 127, FROSTPROOF, FL 33843-0127
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2006
$4,075,000
Neptune 31 LLC
Neptune Beach Office Ctr LLC
Warranty Deed
—
Feb 3, 2006
—
Neptune Beach Office Ctr LLC
Neptune Plaza LLC
Quit Claim Deed
related
—
May 17, 2002
$650,000
Neptune Beach Office Center
Neptune Beach Plaza LLC
Grant Deed
related
—
Aug 7, 2000
$315,000
Neptune Beach Plaza LLC
First Coast Investors INC
Trustees Deed
—
Aug 7, 2000
$650,000
First Coast Investors INC
Merrill,roxie H
Trustees Deed
related
—
—
—
Neptune Beach Fl Realty LLC
—
Deed Of Trust
related
$5,500,000 · Wachovia Bank NA
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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