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Property profile & analytics
OFF-MARKET
Estimated value
$680,000
Manufacturing properties
228 Forsyth St, Jacksonville, FL 32202-3320
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US18-4694328
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1904
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,347 SF
Lot
0.07 ac (3,124 SF)
Zoning code
CCBD
APN
073376-0000
UPID
US18-4694328
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
-
Ruby Beach Brewing Production Facility Brewery & Distillery
-
The Hungry Owl Restaurant
-
228 E Forsyth St Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$415k
CAP Approach
CAP
$455k
Comparable Approach
Comparable
$908k
Blend (final)
Blend
$680k
Owner & transaction history
228 Forsyth INC · 21 yrs held
228 Forsyth INC
since 2004
2 recorded transactions
Zoning & alternative use
CCBD · Jacksonville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$970,000
+96.5%
Apartment house (5+ units)
$880,000
+79.1%
Neighborhood: shopping center
$860,000
+74.3%
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
$415,000
CAP Approach
CAP Return
Estimation
6%
$495,000
6.5%
$455,000
7%
$425,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$495,000
Current use
RETAIL STORES
$970,000
Change: +96% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$880,000
Change: +79% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$860,000
Change: +74% · Conversion: Difficult
Blend value · Realmo final
$680k
Range $612k – $748k · ±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
$127 / 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
$17,451
Tax year 2023
Assessed value
$915,300
Assessed 2023
Previous assessed
$868,800
+5.4% YoY
Effective rate
1.91%
On assessed value
Assessed land
$78,100
Assessed improvement
$837,200
Land market value
$78,100
Improvement market value
$837,200
Total market value
$915,300
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1904
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
81
Bathrooms
10
Total area
5,347 SF
Lot
0.07 ac (3,124 SF)
Zoning code
CCBD
APN
073376-0000
UPID
US18-4694328
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
INDUSTRIAL (GENERAL) Current
Est. value
$495,000
RETAIL STORES
Est. value
$970,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$880,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$860,000
INDUSTRIAL (GENERAL) Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
NEIGHBORHOOD: SHOPPING CENTER
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
1904
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
81
Bathrooms
10
Lot
0.07 ac
Current owner
From public records · entity-resolved
228 Forsyth INC
Entity
Mailing address
PO BOX 330108, ATLANTIC BEACH, FL 32233-0108
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 9, 2009
—
228 Forsyth INC
—
Trustees Deed
related
$406,014 · Satilla Community Bank
Sep 24, 2004
$532,500
228 Forsyth INC
Futch Printing & Mailing INC
Grant Deed
$426,000 · Satilla Community Bank
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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