Historic Mixed-Use Buildings for
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120 E FORSYTH ST, Jacksonville, FL 32202
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 Market69
Property Features for 120 E FORSYTH ST
General Information
Standard status
Active
Size
13,400 SF
Property subtype
Retail, Office, Mixed Use
Zoning
Central Core Business District (CCBD)
Additional Details
Opportunity Zone
Yes
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
Changed: Jul 10
Last Checked: Aug 3 at 10:32AM
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.
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,138
Businesses Nearby
Explore this area
Business Placement
Demographics for 32202, FL
6,544
Population
2,789
Households
2.3
Avg Household Size
38
Median Age
17%
College-Educated
78%
High-School Grad
2.0 sq mi
ZIP Area
3,272
Density / Sq Mi
$40,070
Median Household Income
$30,938
Median Earnings
$1,024
Median Rent
$229,100
Median Home Value
Market
Vacancy Rate% for Office in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
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.
