Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    228 Forsyth St Jacksonville, FL 32202-3320

    • Manufacturing properties
    • 5,347 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $435,000
    Show details
    Cap Rate Potential
    7.2%
    Manufacturing properties
    Location Intelligence
    Property ID
    US18-4694328
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ruby Beach Brewing / Event Venue / Brewery
    • The Hungry Owl / Restaurant
    • 228 E Forsyth St Parking / Parking Lot

    Property Details for 228 Forsyth St

    Year built
    1904
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.07 lot acres
    Property size
    5,347 SF
    Zone code
    CCBD
    Property type
    Manufacturing properties
    APN
    073376-0000
    APU
    733760000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      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

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Jacksonville
    County
    Duval
    State
    Florida
    Longitude
    -81.6547
    Latitude
    30.3261
    CBSA code
    27260
    CBSA name
    JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $17,451
    $78,100
    $837,200
    $915,300
    -
    $78,100
    $837,200
    $915,300

    Comparable in this City

    • Value Estimation
      $475,000
      11,386 SF

      1996 Beaver St

      MANUFACTURING (LIGHT) • 11,386 SF
      1996 Beaver St, Jacksonville, FL 32202-1112
      View Details
    • Value Estimation
      $635,000
      26,522 SF

      925 Ocean St

      MANUFACTURING (LIGHT) • 26,522 SF
      925 Ocean St, Jacksonville, FL 32202-3046
      View Details
    • Value Estimation
      $280,000
      4,340 SF

      770 Talleyrand Ave

      MANUFACTURING (LIGHT) • 4,340 SF
      770 Talleyrand Ave, Jacksonville, FL 32202-1031
      View Details
    • Value Estimation
      $735,000
      38,152 SF

      929 Bay St

      MANUFACTURING (LIGHT) • 38,152 SF
      929 Bay St, Jacksonville, FL 32202-2307
      View Details
    • Value Estimation
      $1,460,000
      60,747 SF

      2074 Adams St

      MANUFACTURING (LIGHT) • 60,747 SF
      2074 Adams St, Jacksonville, FL 32202
      View Details
    • Value Estimation
      $980,000
      165,025 SF

      1900 Wambolt St

      MANUFACTURING (LIGHT) • 165,025 SF
      1900 Wambolt St, Jacksonville, FL 32202-1029
      View Details

    Similar Nearby for Sale

    • $2,600,000
      19,518 SF

      Versatile Warehouse/Distribution Building For Sale

      19,518 SF building ideal for industrial, warehouse, or distribution.
      503 Parker St, Jacksonville, FL 32202
      View Details
    • $695,000
      4,516 SF

      Jacksonville Office Building: Prime Investment

      Historic Jacksonville Office, Vacant, High Potential
      438 Monroe St, Jacksonville, FL 32202
      View Details
    • $390,000

      Waterfront Office Condo in Landmark

      Penthouse-level office condo with river views in downtown Jacksonville.
      233 Bay St, Jacksonville, FL 32202
      View Details
    • $247,830
      1,502 SF

      Downtown Jacksonville Executive Suite

      Prime Office Space, Stunning Views
      233 Bay St, Jacksonville, FL 32202
      View Details
    • $1,095,000
      1,050 SF

      Downtown Jacksonville Office with Parking

      Renovated office building near downtown Jacksonville with parking.
      531 W Union St, Jacksonville, FL 32202
      View Details
    • $350,000

      Downtown Jax Corner Office Space

      Prime location, high foot traffic, flexible layout.
      311 Ashley St, Jacksonville, FL 32202
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      3,000 SF

      Atlantic Beach Warehouse Space Available

      Warehouse space for lease near Mayport Naval Station.
      1541 Main St, Atlantic Beach, FL 32202
      View Details
    • Contact for pricing
      4,840 SF

      Warehouse Showroom Space in Stadium District

      Warehouse showroom near TIAA Bank Field, ideal for industrial/flex user.
      1730 East Duval St, Jacksonville, FL 32202
      View Details
    • $12 SF/Yr
      3,000 SF

      Warehouse Space Near Mayport Naval

      Warehouse space with office, near Mayport Naval Station.
      1545 Main St, Atlantic Beach, FL 32202
      View Details
    • Contact for pricing
      12,770 SF

      Turn-Key Bar/Brewery Space Available

      Fully renovated bar/brewery with outdoor patio in Jacksonville, FL.
      1730 N Main St, Jacksonville, FL 32202
      View Details
    • Contact for pricing
      5,500 SF

      Turn-Key Bar/Brewery Space Available

      Fully renovated bar/brewery with outdoor patio for rent.
      1740 N Main St, Jacksonville, FL 32202
      View Details
    • $14 SF/Yr
      3,745 SF

      Jacksonville Warehouse with Six Bays

      Well-maintained 3,745 SF warehouse in a prime Jacksonville location.
      339 Union St E, Jacksonville, FL 32202
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    228 Forsyth St
    Jacksonville, FL 32202-3320
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.