Converted Residence Office
For Sale
$444,900
2050 Forbes St, Jacksonville, FL 32204
Converted 1917 residence offers private offices, a lobby, two bathrooms, and ample parking for office use.
Property Size1,962 SF
Price / SF$226.76
Days on Market195
Property Features for 2050 Forbes St
General Information
Standard status
Active
Size
1,962 SF
Property subtype
Multi-Family
Zoning
RMD-B
Additional Details
Highway Access
Yes
Building Details
Year Built
1917
Listing Agency:
VIT HOMES REALTY LLC
Listed By:
VITALY SKURATOV · License #3191098
(904) 537-9710
Source:
Onewinningteam
Added: Apr 11
Changed: Oct 5
Last Checked: Oct 7 at 1:34PM
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 VIT HOMES REALTY LLC
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Investment Insights
Based on property information with market context.
This converted 1917 family home has been repurposed as an office building and includes multiple private rooms/offices plus a lobby. The property also features two bathrooms and plenty of parking, supporting everyday client and staff access.
Situated in the heart of historical 5 points, Riverside, the location is described as within walking distance to shopping, local restaurants, and parks. It is also conveniently close to the interstate.
The property is listed as zoned RMD-B, with Building Type 1201 noted as “converted residence.”
Situated in the heart of historical 5 points, Riverside, the location is described as within walking distance to shopping, local restaurants, and parks. It is also conveniently close to the interstate.
The property is listed as zoned RMD-B, with Building Type 1201 noted as “converted residence.”
Key Highlights
- Converted 1917 residence used as an office building in the Historic 5 Points area of Riverside
- Multiple private rooms/offices plus a lobby
- Two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,217
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$564,340
$564.3K
Cap Rate 7%
$403,100
$403.1K
Cap Rate 9%
$313,522
$313.5K
Market Conditions
NOI Build-Up for 1,962 SF
Gross rent
$47.1K $24.00/SF
− Vacancy
−$9.5K −$4.82/SF
EGI
$37.6K $19.18/SF
− OpEx
−$9.4K −$4.79/SF
NOI
$28.2K $14.38/SF
Area
Jacksonville, FL
Vacancy
20.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$564,340
Cap Rate 7%
$403,100
Cap Rate 9%
$313,522
Alternative Uses
Best Use
Office B
$403.1K
$352.7K – $470.3K
NOI $28,217 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$537.5K
$470.3K – $627.1K
NOI $37,623 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 32204, FL
8,673
Population
5,342
Households
1.6
Avg Household Size
39
Median Age
41%
College-Educated
88%
High-School Grad
2.7 sq mi
ZIP Area
3,212
Density / Sq Mi
$54,462
Median Household Income
$47,872
Median Earnings
$1,132
Median Rent
$342,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Jacksonville, FL
Frequently Asked Questions
What type of property is this?
Office building - Converted 1917 residence offers private offices, a lobby, two bathrooms, and ample parking for office use.
Where is this office building located?
The property is located at 2050 Forbes St Jacksonville, FL.
What is the asking price?
The asking price for this property is $444,900.
What are key features of this property?
This property features: Converted 1917 residence used as an office building in the Historic 5 Points area of Riverside; Multiple private rooms/offices plus a lobby; Two bathrooms
