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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Strip malls
119 Adams St Jacksonville, FL 32202-3801
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-5134010
Property summary
AI-generated overview
This exceptional Class A office building, located at 119-129 W Adams Street in Jacksonville, Florida's vibrant Downtown Northbank submarket, offers a unique opportunity. The property boasts a total of 34,000 square feet across six stories in a single building, with a minimum divisible space of 8,000 square feet and a maximum contiguous space of 8,000 square feet. Currently configured for multiple tenants, this building features modern amenities including elevators. Its prime location offers unparalleled convenience, with easy walking access to a wide array of restaurants, bars, apartments, and hotels. Furthermore, major entertainment and sports venues are just a short drive away. The property is situated in a rapidly developing area, with plans to convert Adams Street to a two-way street in 2025, promising increased accessibility and visibility. This is an ideal space for businesses seeking a prestigious address in a thriving urban core. The zip code is 32202. This offering presents a rare chance to secure high-quality office space in one of Jacksonville's most sought-after locations.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1919
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,258 SF
Lot
0.14 ac (6,297 SF)
Zoning code
CCBD
APN
073745-0000
UPID
US18-5134010
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
ATM Machine at Breezy Jazz Entertainment Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$692k
Blend (final)
Blend
$655k
Owner & transaction history
Arlington Way LLC · 3 yrs held
Arlington Way LLC
since 2022
4 recorded transactions
Zoning & alternative use
CCBD · Jacksonville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.0M
+2.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Jacksonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jacksonville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,005,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,035,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$655k
Range $590k – $721k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$105 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$12,510
Tax year 2023
Assessed value
$670,000
Assessed 2023
Previous assessed
$528,500
+26.8% YoY
Effective rate
1.87%
On assessed value
Assessed land
$170,100
Assessed improvement
$499,900
Land market value
$170,100
Improvement market value
$499,900
Total market value
$670,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1919
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
2
Rooms
2
Bathrooms
19
Total area
6,258 SF
Lot
0.14 ac (6,297 SF)
Zoning code
CCBD
APN
073745-0000
UPID
US18-5134010
Jurisdiction
DUVAL
Zoning & alternative use
CCBD · Jacksonville, FL
Zoning CCBD · permitted uses
CCBD · Jacksonville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jacksonville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER Current
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1919
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
2
Rooms
2
Bathrooms
19
Lot
0.14 ac
Current owner
From public records · entity-resolved
Arlington Way LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1 INDEPENDENT DR STE #1200, JACKSONVILLE, FL 32202-5014
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2024
—
Arlington Way LLC
—
Deed
related
$1,149,000 · Dlp Lending Fund LLC
Oct 12, 2022
—
Arlington Way LLC
Ashley And Pearl Parking LLC
Special Warranty Deed
—
Mar 7, 2022
$600,000
Ashley And Pearl Parking LLC
119 West Adams LLC
Special Warranty Deed
$1,020,000 · Dlp Lending Fund LLC
Mar 27, 2014
—
119 West Adams Street LLC
Pavlis A G 1993 Trust
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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