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    11 East Forsyth St Jacksonville, FL 32202

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    For Lease
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    Turnkey restaurant space in a historic downtown building.

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    Listing Contact
    Tiffany Wein
    Source: Naiglobal

    Listing Agency: NAI Hallmark | Jacksonville Listing Agent: Tiffany Wein

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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    Overview

    Downtown Jacksonville Restaurant Space Available

    Located at 11 East Forsyth Street in downtown Jacksonville, this 2,595 square foot second-generation restaurant space is available for rent. The space features an existing hood system and walk-in cooler, presenting a turnkey opportunity. Situated in a historic seventeen-story landmark building, which has been thoughtfully restored into luxury loft-style apartments with activated street-level retail, the property blends classic architectural character with modern urban living. The building has 127 luxury loft-style apartments above the retail space, providing a built-in customer base. The property is located near the rapidly redeveloping LaVilla and NorthCore districts, the future Publix, and major mixed-use projects. It is also less than a mile from EverBank Stadium and the Jacksonville Jaguars’ new headquarters, placing it within an active sports and entertainment corridor. This location offers prime visibility and strong foot traffic, making it suitable for a restaurant or retail concept seeking a downtown presence.
    Location Intelligence

    Current Use by Public Records

    Bill's Caricatures Event Planning 11 East Forsyth ... Apartment Building SP+ Parking Parking Lot & Garage Super Food And Brew Restaurant Tori's Place Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Sincerely Patrice, Inc., SAVOR, Vale Food Co, Mr.Barrtenderr, Ladson's Southern Plates LLC

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.6573139
    Latitude
    30.3274264

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    FAQs

    What type of property is this?
    Restaurant - Turnkey restaurant space in a historic downtown building.
    Where is this restaurant located?
    The property is located at 11 East Forsyth St Jacksonville, FL.
    What are key features of this property?
    This property features: - Prime downtown location with high visibility and strong foot traffic.; - Turnkey restaurant space with existing hood system and walk-in cooler.; - 127 luxury loft-style apartments above provide a built-in customer base.
    (904) 315-7162
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    11 East Forsyth St Jacksonville, FL 32202
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    Jacksonville, FL 32202
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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
    11 East Forsyth St Jacksonville, FL 32202
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    Listing Contact
    Tiffany Wein
    (904) 315-7162 (904) 404-4453 (904) 363-9002
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