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2303 N Market St 32,918 SF Vacant Industrial Building Jacksonville, FL 32206 $4,900,000 ($148.85/SF)
Executive Summary
Featuring two floors of Class A creative and industrial space within a meticulously reimagined industrial building, the Phoenix Building offers soaring ceilings, expansive open floor plans, and striking architectural presence. This trophy asset is positioned as the cultural centerpiece of an 8.5-acre mixed-use innovation district, with significant upside potential through value-add repositioning, stabilized lease-up, and capitalization on Jacksonville’s fastest-growing creative corridor.
Investment Highlights:
• Premium Location: Anchor property within the Phoenix Arts & Innovation District, a nationally-recognized creative ecosystem with walkable access to the Emerald Trail and 830+ residential units planned
• Value-Add Opportunity: Stabilized NOI of $736,596 (Year 6) with 8.1% unlevered yield on cost and 13% unlevered IRR
• Flexible Asset: 32,918 SF across two floors ideal for members clubs, cultural institutions, destination hospitality, creative office, or mixed-use configurations
• Completion Grant: $1,000,000 in grant proceeds supporting tenant improvements and lease-up
• Historic Character + Modern Infrastructure: Preserved industrial architecture with upgraded systems, expansive windows, and Class A finishes
The Phoenix Building represents a strategic acquisition for investors seeking a flagship creative asset in an emerging market with strong fundamentals, mission-driven development partners, and institutional- quality placemaking. With base rents projected at $18.00-$25.00 PSF and proven demand for authentic industrial space in cultural districts, this property offers both immediate income potential and long- term appreciation within Jacksonville’s most dynamic neighborhood transformation.
Immediate opportunity for qualified buyers. Contact Metro 1 for offering memorandum and financial proforma.
Property Facts
| Price | $4,900,000 | Rentable Building Area | 32,918 SF |
| Price Per SF | $148.85 | No. Stories | 2 |
| Sale Type | Investment or Owner User | Year Built | 1922 |
| Property Type | Industrial | Parking Ratio | 0.36/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 14’ |
| Building Class | C | No. Dock-High Doors/Loading | 7 |
| Lot Size | 1.21 AC | Opportunity Zone |
Yes
|
| Zoning | PUD - PLANNED UNIT DEVELOPMENT | ||
| Price | $4,900,000 |
| Price Per SF | $148.85 |
| Sale Type | Investment or Owner User |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.21 AC |
| Rentable Building Area | 32,918 SF |
| No. Stories | 2 |
| Year Built | 1922 |
| Parking Ratio | 0.36/1,000 SF |
| Clear Ceiling Height | 14’ |
| No. Dock-High Doors/Loading | 7 |
| Opportunity Zone |
Yes |
| Zoning | PUD - PLANNED UNIT DEVELOPMENT |
Amenities
- Fenced Lot
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Positioned in a rapidly developing urban corridor influenced by major public and private investments including Gateway JAX and MOSH Genesis. Adaptable two-story environment capable of supporting production facilities, food and beverage concepts, showrooms, and experiential event uses. Surrounded by a growing community of artists, makers, and innovative businesses driving new demand for experiential and creative destinations
Positioned in a rapidly developing urban corridor influenced by major public and private investments including Gateway JAX and MOSH Genesis. Adaptable two-story environment capable of supporting production facilities, food and beverage concepts, showrooms, and experiential event uses. Surrounded by a growing community of artists, makers, and innovative businesses driving new demand for experiential and creative destinations
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 16,000 SF | Retail | Shell Space | Now |
| Mezzanine | 16,000 SF | Retail | Shell Space | Now |
1st Floor
| Size |
| 16,000 SF |
| Space Use |
| Retail |
| Build-Out |
| Shell Space |
| Available |
| Now |
Mezzanine
| Size |
| 16,000 SF |
| Space Use |
| Retail |
| Build-Out |
| Shell Space |
| Available |
| Now |
1st Floor
| Size | 16,000 SF |
| Space Use | Retail |
| Build-Out | Shell Space |
| Available | Now |
Positioned in a rapidly developing urban corridor influenced by major public and private investments including Gateway JAX and MOSH Genesis. Adaptable two-story environment capable of supporting production facilities, food and beverage concepts, showrooms, and experiential event uses. Surrounded by a growing community of artists, makers, and innovative businesses driving new demand for experiential and creative destinations
Mezzanine
| Size | 16,000 SF |
| Space Use | Retail |
| Build-Out | Shell Space |
| Available | Now |
Positioned in a rapidly developing urban corridor influenced by major public and private investments including Gateway JAX and MOSH Genesis. Adaptable two-story environment capable of supporting production facilities, food and beverage concepts, showrooms, and experiential event uses. Surrounded by a growing community of artists, makers, and innovative businesses driving new demand for experiential and creative destinations
Property Taxes
| Parcel Number | 044941-0060 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $422,060 |
Property Taxes
Presented by
2303 N Market St
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