Historic Mixed-Use Buildings for
120 E FORSYTH ST Jacksonville, FL 32202
120 E FORSYTH ST, Jacksonville, FL, 32202
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For Sale
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Two historic mixed-use buildings offered in shell condition, zoned for Central Core Business District uses.
Property Size13,400 SF
Price / SF$223.81
Days on Market54
Property Features for 120 E FORSYTH ST
General Information
- Standard status
- Active
- Size
- 13,400 SF
- Property subtype
- Retail, Office, Mixed Use
Building Details
- Year Built
- 1909
Listing agency
Engel & Völkers New Smyrna Beach
(352) 267-4244
Listed by
Chris Pixley · License #SL3236442
Source
Crexi
Added: May 29 Updated: Jul 10 at 4:00PM Checked: Jul 21 at 9:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Engel & Völkers New Smyrna Beach
Investment Insights
Based on property information with market context.
112 and 120 E. Forsyth Street offers two historic mixed-use commercial buildings in Downtown Jacksonville. Originally constructed in the early 1900s, the property features classic historic architecture, exposed brick walls, and flexible floor plans intended to accommodate a broad mix of concepts. The buildings are currently delivered in shell condition, giving an owner-user or developer the ability to design and build out the spaces for the intended use.
The site is positioned adjacent to the Florida Theatre and sits along historic Forsyth Street within an active downtown environment that includes restaurants, entertainment venues, office towers, hotels, and new residential development. The area is also described as within close proximity to major downtown destinations and venues, including EverBank Stadium, Vystar Arena, and the Jacksonville Riverwalk.
From a tenant and operator standpoint, the existing layout flexibility and shell condition support adaptive reuse for restaurant, hospitality, entertainment, creative office, retail, event venue, nightlife, or mixed-use redevelopment plans, subject to applicable requirements. Zoning is Central Core Business District (CCBD) per the City of Jacksonville, and the property is located within both an Opportunity Zone and the Downtown Jacksonville CRA District, which may be relevant for redevelopment planning and incentives where applicable.
The site is positioned adjacent to the Florida Theatre and sits along historic Forsyth Street within an active downtown environment that includes restaurants, entertainment venues, office towers, hotels, and new residential development. The area is also described as within close proximity to major downtown destinations and venues, including EverBank Stadium, Vystar Arena, and the Jacksonville Riverwalk.
From a tenant and operator standpoint, the existing layout flexibility and shell condition support adaptive reuse for restaurant, hospitality, entertainment, creative office, retail, event venue, nightlife, or mixed-use redevelopment plans, subject to applicable requirements. Zoning is Central Core Business District (CCBD) per the City of Jacksonville, and the property is located within both an Opportunity Zone and the Downtown Jacksonville CRA District, which may be relevant for redevelopment planning and incentives where applicable.
Key Highlights
- Two historic mixed‑use commercial buildings totaling 13,400+ RSF on E. Forsyth St.
- Year built 1909 with classic historic architecture and exposed brick walls.
- Offered in shell condition, providing flexible space for a wide range of uses.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $321.6k | $24.00 |
| − Vacancy | −$64.6k | −$4.82 |
| EGI | $257.0k | $19.18 |
| − OpEx | −$64.2k | −$4.79 |
| NOI | $192.7k | $14.38 |
13,400 SF · lease $24.00/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.75M
$2.41M – $3.21M
NOI $192,719 @ 7.0% cap · market cap 6.43%
Second Best
Mixed Use
$2.53M
$2.21M – $2.95M
NOI $176,880 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$3.67M
$3.21M – $4.28M
NOI $256,958 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Baldwin Cynthia
Insurance Agency
Old Republic Natl ...
Title Company
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FAQs
What type of property is this?
Mixed-use property - Two historic mixed-use buildings offered in shell condition, zoned for Central Core Business District uses.
Where is this mixed-use property located?
The property is located at 120 E FORSYTH ST Jacksonville, FL.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: Two historic mixed‑use commercial buildings totaling 13,400+ RSF on E. Forsyth St.; Year built 1909 with classic historic architecture and exposed brick walls.; Offered in shell condition, providing flexible space for a wide range of uses.
