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120 E Forsyth St, Jacksonville, FL 32202
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Property summary
AI-generated overview
A two-story retail building located in Downtown Jacksonville on historic E. Forsyth Street, situated on a 0.14-acre lot. The property provides over 10,000 square feet of flexible interior space, with each floor measuring approximately 50' x 103'. It is offered in a Vanilla Shell condition, supporting tenant or owner-specific buildout, and features high ceilings, an open floorplate, and prominent street frontage. The building’s configuration allows for spaces to be leased individually or combined for use as a full building. Surrounding area includes James Weldon Johnson Park, the Jacksonville Landing area, government buildings, offices, and established entertainment venues, contributing to a high-activity urban setting.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1909
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,734 SF
Lot
0.14 ac (5,889 SF)
Zoning code
CCBD
APN
073451-0000
UPID
US18-8174059
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Insurance Agency
-
Title Company
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.27M
Blend (final)
Blend
$1.34M
Owner & transaction history
since 2018
2 recorded transactions
Zoning & alternative use
CCBD · Jacksonville, FL
Zoning description
CCG, CCBD and CR zoning districts- (i) One street frontage sign per lot not exceeding one square foot for each linear foot of street frontage, per street, to a maximum size of 300 square feet in area for every 300 linear…
General category
COMMERCIAL
Top alternative use upside
Retail stores
$2.1M
+42.2%
Apartment house (5+ units)
$1.9M
+29.7%
Neighborhood: shopping center
$1.9M
+26.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 3 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.34M
Value range
$1.20M – $1.47M
±10% around blend
Estimated value / SF
$114 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
30
Income certainty
100
$1.20M
blend $1.34M
$1.47M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
11,734 SF
Lot area
0.14 ac
Year built
1909
Stories
2
APN
073451-0000
Zoning
CCBD
Assessed value
$826,200
Annual tax
$15,816
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$15,816
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$754k
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
7.8 mi away · 11,968 SF
11.9 mi away · 8,700 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.34M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 51 sales
$127
-11%
Submarket 744 sales
$194
-41%
County 740 sales
$194
-41%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $114/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Retail Stores
Gross theoretical uplift
+42%
vs current-use indication
Apartment House (5+ Units)
Neighborhood: Shopping Center
Office Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Selected market yield
6.43%
Selected cap rate for this office buildings
Derived from the Jacksonville market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.43%
9.0%
NOI (est.)
$193k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.00M
Move the market yield to see immediate price impact.
Value / SF
$255
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.93%6.43%6.93%
$173k
$2.92M
$2.70M
$2.50M
$193k
$3.25M
$3.00M
$2.78M
$212k
$3.57M
$3.30M
$3.06M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$475k
1.5 mi · Feb 2026 · $42/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$15,816
Tax year 2023
Assessed value
$826,200
Assessed 2023
Previous assessed
$788,200
+4.8% YoY
Effective rate
1.91%
On assessed value
Assessed land
$147,025
Assessed improvement
$679,175
Land market value
$147,025
Improvement market value
$679,175
Total market value
$826,200
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1909
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
32
Rooms
32
Bathrooms
11
Total area
11,734 SF
Lot
0.14 ac (5,889 SF)
Zoning code
CCBD
APN
073451-0000
UPID
US18-8174059
Jurisdiction
DUVAL
Zoning & alternative use
CCBD · Jacksonville, FLZoning CCBD · permitted uses
CCBD · Jacksonville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
CCG, CCBD and CR zoning districts- (i) One street frontage sign per lot not exceeding one square foot for each linear foot of street frontage, per street, to a maximum size of 300 square feet in area for every 300 linear…
General category
COMMERCIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1909
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
32
Rooms
32
Bathrooms
11
Lot
0.14 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
CCBD
COMMERCIAL
Jurisdiction
Jacksonville, FL
Recorded code
CCBD
Official district
CCBD
Official district profile
What the municipal code says about CCBD
Zoning description
CCG, CCBD and CR zoning districts- (i) One street frontage sign per lot not exceeding one square foot for each linear foot of street frontage, per street, to a maximum size of 300 square feet in area for every 300 linear…
General category
COMMERCIAL
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CCBD in Jacksonville, FL.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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