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    Property profile & analytics

    800 Dunn Ave Jacksonville, FL 32218-4803

    • Medical Office Space
    • 5,491 SF
    • 1.19 lot acres
    OFF-MARKET
    Last Sale
    Sep 13, 2024
    $2,010,000
    Value Estimations
    $2,085,000
    Show details
    Cap Rate Potential
    3.4%
    Medical Office Space
    Location Intelligence
    Property ID
    US18-4376226
    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

    • Emergency Dentist Jacksonville FL / Dental Office
    • Affordable Dentures & Implants / Dental Office
    • Emergency Dentist 24/7Jacksonville / Dental Office
    • Daniel Marquez Menendez / Dental Office
    • Dr. Robert Kinney / Dental Office

    Property Details for 800 Dunn Ave

    Year built
    1984
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.19 lot acres
    Property size
    5,491 SF
    Zone code
    CCG-1
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    044148-0110
    APU
    441480110

    Description

    This exceptional investment opportunity presents a 5,491 square foot Class A medical office building in Jacksonville, Florida. Located at 800 Dunn Ave, this single-tenant property boasts a 100% occupancy rate with Affordable Care LLC, a credit-rated national tenant with a corporate guarantee. The NNN lease, featuring 2% annual rent bumps, has a remaining term of 6.5 years with two five-year options. The property, built in 1984 and renovated in 1990, sits on a 1.19-acre lot and offers ample parking (10 spaces per 1,000 sq ft). The asking price is $2,081,089, representing a compelling $379 per square foot and a 7.00% cap rate with a current NOI of $145,677. The property is zoned Commercial Community/General-1 (CCG-1) and benefits from a high-traffic location adjacent to a Publix-anchored shopping center. This stabilized investment offers a passive income stream with significant upside potential, driven by the tenant's strong financial performance and the robust growth of the Jacksonville market. The lease commenced November 4, 2020, and expires November 30, 2030. This is an ideal investment for those seeking a stable, high-return asset in a thriving market. The property features a strong national tenant, Affordable Care LLC, the seventh-largest Dental Service Organization (DSO) in the United States. Jacksonville's strong job growth and population increase contribute to the high demand for medical services in this area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,280,000
      ML approach
      $2,210,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,924,000
      Market price range: $592k - $1.92M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,255,000
      Current use
      RESTAURANT
      $2,915,000
      Change: +132% Conversion: Difficult
      OFFICE BUILDING
      $1,920,000
      Change: +53% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,385,000
      Change: +10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.6576
    Latitude
    30.4294
    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
    $23,893
    $926,298
    $398,502
    $1,324,800
    -
    $926,298
    $398,502
    $1,324,800

    Comparable in this City

    • Value Estimation
      $1,345,000
      6,926 SF

      14272 Pecan Park Rd

      MEDICAL BUILDING • 6,926 SF
      14272 Pecan Park Rd, Jacksonville, FL 32218-9410
      View Details
    • Value Estimation
      $1,535,000
      12,286 SF

      590 Dundas Dr

      MEDICAL BUILDING • 12,286 SF
      590 Dundas Dr, Jacksonville, FL 32218-5579
      View Details
    • Value Estimation by Request
      5,088 SF

      15496 Max Leggett Pkwy

      MEDICAL BUILDING • 5,088 SF
      15496 Max Leggett Pkwy, Jacksonville, FL 32218-2564
      View Details
    • Value Estimation by Request
      1,140 SF

      3890 Dunn Ave Ste, Unit 203

      MEDICAL BUILDING • 1,140 SF
      3890 Dunn Ave Ste, Jacksonville, FL 32218-6428
      View Details
    • Value Estimation by Request
      3,408 SF

      3450 Dunn Ave Ste, Unit 200

      MEDICAL BUILDING • 3,408 SF
      3450 Dunn Ave Ste, Jacksonville, FL 32218-6427
      View Details
    • Value Estimation
      $570,000
      3,338 SF

      5255 Dunn Ave

      MEDICAL BUILDING • 3,338 SF
      5255 Dunn Ave, Jacksonville, FL 32218-4361
      View Details

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    Similar Nearby for Lease

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    Request Owner's contact information
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    800 Dunn Ave
    Jacksonville, FL 32218-4803
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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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