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121 W Forsyth St Jacksonville, FL 32202

Office buildings Google Maps
63,579 SF 0.36 ac lot Built 1908
Entity Owned 5-yr Hold Free & Clear
Estimated value (blended)
$11.36M
Range $10.22M – $12.49M (±10%)
Property ID US18-0518467

Property summary

AI-generated overview

121 Atlantic Place offers exceptional office space in Downtown Jacksonville's Northbank submarket. This Class A, historically significant building, originally constructed in 1918 and extensively renovated in 2021, boasts 104,804 square feet of space, with units ranging from 826 to 5,150 contiguous square feet. The building features a newly renovated lobby, a modern tenant conference center and lounge, and a unique underground corridor providing direct access to a nearby parking garage with guaranteed parking allocations. Its prime location offers convenient proximity to the Skyway, County and Federal courthouses, City Hall, and numerous restaurants and cafes. Multiple tenancy options are available, including turnkey and design/build solutions, with up to 50,000 square feet available on three contiguous floors. Security features include CCTV throughout the building and on-site security. The building is situated within a SBA HubZone, offering potential economic benefits. This is a rare opportunity to lease space in a fully remodeled historic building with modern amenities and unparalleled convenience in the heart of Jacksonville's central business district.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1908
Construction STEEL FRAME
Total area 63,579 SF
Lot 0.36 ac (15,707 SF)
Zoning code CCBD
APN 073735-0000
UPID US18-0518467

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
  • Law School
  • Law Firm
  • Law Firm Child Welfare Organization
  • Law Firm
  • Law Firm Child Welfare Organization

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$9.75M
CAP Approach CAP
by Request
Comparable Approach Comparable
$12.12M
Blend (final) Blend
$11.36M

Owner & transaction history

since 2021
Last sale
$10.5M
1 recorded transaction
2021
$10.5M

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
Commercial (general) $17.0M +110.4%
Medical building $14.5M +79.5%
Auto repair, garage $13.6M +67.6%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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