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

    9119 Merrill Rd Ste, Unit 1 Jacksonville, FL 32225-4308

    • Strip malls
    • 24,600 SF
    • 12.82 lot acres
    OFF-MARKET
    Last Sale
    Oct 05, 2023
    $4,750,000
    Value Estimations
    $4,950,000
    Show details
    Cap Rate Potential
    6.6%
    Strip malls
    Location Intelligence
    Property ID
    US18-7824328
    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 9119 Merrill Rd Ste

    Year built
    1990
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    12.82 lot acres
    Property size
    24,600 SF
    Zone code
    PUD
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    120621-0005
    APU
    1206210005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,955,000
      ML approach
      $5,690,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,490,000
      6.5%
      $5,070,000
      7%
      $4,705,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,215,000
      Market price range: $1.87M - $6.47M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,950,000
      Current use
      COMMERCIAL (GENERAL)
      $6,205,000
      Change: +57% Conversion: Easy
      MEDICAL BUILDING
      $5,620,000
      Change: +42% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,245,000
      Change: +33% Conversion: Difficult
      OFFICE BUILDING
      $4,775,000
      Change: +21% Conversion: Moderate
      RETAIL STORES
      $4,455,000
      Change: +13% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $4,060,000
      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
    -81.5503
    Latitude
    30.3545
    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
    $1,999,759
    $3,668,741
    $5,668,500
    -
    $1,999,759
    $3,668,741
    $5,668,500

    Comparable in this City

    • Value Estimation
      $2,930,000
      21,650 SF

      13245 Atlantic Blvd

      SHOPPING CENTER, STRIP CENTER • 21,650 SF
      13245 Atlantic Blvd, Jacksonville, FL 32225-7121
      View Details
    • Value Estimation
      $3,965,000
      29,271 SF

      10916 Atlantic Blvd

      SHOPPING CENTER, STRIP CENTER • 29,271 SF
      10916 Atlantic Blvd, Jacksonville, FL 32225-2947
      View Details
    • Value Estimation
      $1,115,000
      12,720 SF

      660 Commerce Ctr Dr

      SHOPPING CENTER, STRIP CENTER • 12,720 SF
      660 Commerce Ctr Dr, Jacksonville, FL 32225-8800
      View Details
    • Value Estimation
      $1,560,000
      14,328 SF

      13474 Atlantic Blvd

      SHOPPING CENTER, STRIP CENTER • 14,328 SF
      13474 Atlantic Blvd, Jacksonville, FL 32225-0101
      View Details
    • Value Estimation
      $915,000
      10,020 SF

      10039 Atlantic Blvd

      SHOPPING CENTER, STRIP CENTER • 10,020 SF
      10039 Atlantic Blvd, Jacksonville, FL 32225-6503
      View Details
    • Value Estimation
      $1,860,000
      46,593 SF

      10000 Atlantic Blvd

      SHOPPING CENTER, STRIP CENTER • 46,593 SF
      10000 Atlantic Blvd, Jacksonville, FL 32225-8241
      View Details

    Similar Nearby for Sale

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      Retail property with frontage on Arlington Expressway near major retailers.
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      Jacksonville Banquet Hall For Sale

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      Prime Jacksonville Retail Land

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      Regency Square Mall Sears Property

      Prime Jacksonville retail space, high traffic area.
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    Similar Nearby for Lease

    • $29 SF/Yr
      1,597 SF

      Retail Space in Jacksonville Center

      Retail space available in a Publix-anchored shopping center.
      13170 Atlantic Blvd, Jacksonville, FL 32225
      View Details
    • Contact for pricing
      22,500 SF

      Retail Space in Regency Plaza

      Retail vacancy in a well-traveled, highly populated area.
      9822-9840 Atlantic Blvd, Jacksonville, FL 32225
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Cobblestone Community

      Retail space available in Jacksonville's Cobblestone Residential Community.
      3031 Monument Rd, Jacksonville, FL 32225
      View Details
    • $20 SF/Yr
      2,655 SF

      Retail Center with Restaurant Space

      Retail center with move-in ready restaurant space for lease.
      10230 Atlantic Blvd, Jacksonville, FL 32225
      View Details
    • Contact for pricing
      7,503 SF

      Retail Space in Southside Commons

      Retail spaces available in high-visibility Southside Commons shopping center.
      651 Commerce Center Dr, Jacksonville, FL 32225
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Jacksonville Plaza

      Retail space for lease in a busy Jacksonville plaza.
      9180 Merrill Rd, Jacksonville, FL 32225
      View Details
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    9119 Merrill Rd Ste, Unit 1
    Jacksonville, FL 32225-4308
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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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