Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9119 Merrill Rd Ste, Unit 63 Jacksonville, FL 32225-4321

    • Warehouses
    • 169,357 SF
    • 10.47 lot acres
    OFF-MARKET
    Last Sale
    Jan 28, 2020
    $8,625,000
    Value Estimations
    $9,020,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5942303
    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

    • Warehouses

    Property Details for 9119 Merrill Rd Ste

    Year built
    1990
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    10.47 lot acres
    Property size
    169,357 SF
    Zone code
    PUD
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    120611-0000
    APU
    1206110000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,915,000
      ML approach
      $9,915,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.5491
    Latitude
    30.3543
    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
    $239,918
    $2,104,772
    $11,954,928
    $14,059,700
    -
    $2,104,772
    $11,954,928
    $14,059,700

    Comparable in this City

    • Value Estimation
      $9,570,000
      97,304 SF

      45 Jefferson Rd

      MINI-WAREHOUSE, STORAGE • 97,304 SF
      45 Jefferson Rd, Jacksonville, FL 32225-6743
      View Details
    • Value Estimation
      $4,000,000
      21,050 SF

      1414 Millcoe Rd

      MINI-WAREHOUSE, STORAGE • 21,050 SF
      1414 Millcoe Rd, Jacksonville, FL 32225-6300
      View Details
    • Value Estimation
      $2,105,000
      11,062 SF

      821 Saint Johns Blf Rd Nb

      MINI-WAREHOUSE, STORAGE • 11,062 SF
      821 Saint Johns Blf Rd Nb, Jacksonville, FL 32225-8331
      View Details
    • Value Estimation
      $16,170,000
      113,384 SF

      100 Girvin Rd

      MINI-WAREHOUSE, STORAGE • 113,384 SF
      100 Girvin Rd, Jacksonville, FL 32225-3013
      View Details
    • Value Estimation
      $11,980,000
      114,048 SF

      13660 Atlantic Blvd

      MINI-WAREHOUSE, STORAGE • 114,048 SF
      13660 Atlantic Blvd, Jacksonville, FL 32225-3231
      View Details
    • Value Estimation
      $1,275,000
      6,700 SF

      12020 Mccormick Rd, Unit B1-36

      MINI-WAREHOUSE, STORAGE • 6,700 SF
      12020 Mccormick Rd, Jacksonville, FL 32225-4556
      View Details

    Similar Nearby for Sale

    • $174,900
      1.06 Acres

      Jacksonville Vacant Land Opportunity

      Vacant land suitable for family estate or investment property.
      Brookview Dr N, Jacksonville, FL 32225
      View Details
    • $160,000
      7.73 Acres

      Jacksonville Land For Sale

      7.73 acres of land available in Jacksonville, Florida.
      Causey Ln, Jacksonville, FL 32225
      View Details
    • $825,000

      Jacksonville Banquet Hall For Sale

      Elegant Event Venue, Legacy Opportunity
      10750 Atlantic Blvd, Jacksonville, FL 32225
      View Details
    • $120,000
      0.70 Acres

      Vacant Land in Jacksonville, FL

      Vacant land available for sale in Jacksonville, Florida.
      1891 Holly Oaks Ravine Dr, Jacksonville, FL 32225
      View Details
    • $500,000
      7,200 SF

      Jacksonville Premier Events and Banquet

      Premier Jacksonville events and banquet hall business for sale.
      10750 Atlantic Blvd, Jacksonville, FL 32225
      View Details
    • $160,000

      Land For Sale Jacksonville

      Land available for sale in Jacksonville, Florida.
      Causey Ln, Jacksonville, FL 32225
      View Details

    Similar Nearby for Lease

    • $17,850 /Mo
      8,300 SF

      Atlantic Blvd Flex Space

      8,300 SF flex space in high-traffic Jacksonville corridor.
      13755 Atlantic Blvd, Jacksonville, FL 32225
      View Details
    • $15 SF/Yr
      5,260 SF

      Central Flex/Industrial Space For Rent

      Flex/Industrial space in central location, approximately 5,260 square feet.
      576 Saint Johns Bluff Rd N, Jacksonville, FL 32225
      View Details
    • Contact for pricing
      13,607 SF

      Jacksonville Medical Office Space for Lease

      Class A Medical Office Suites - Available 2025
      13617 Atlantic Blvd, 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
      1,750 SF

      Retail Space in Renovated Center

      Retail space available in a busy, renovated Jacksonville shopping center.
      9218-9378 Arlington Expy, Jacksonville, FL 32225
      View Details
    • $18 SF/Yr
      23,082 SF

      Regency Square Office Space Available

      Office suites available for lease in Jacksonville, Florida.
      9485 Regency Square Blvd, Jacksonville, FL 32225
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    9119 Merrill Rd Ste, Unit 63
    Jacksonville, FL 32225-4321
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.