129 N MARKET Street, Jacksonville, FL 32202

$1,300,000

129 N MARKET Street
Jacksonville, FL 32202
MLS# 2146519

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Property Description
Prime investment opportunity in the heart of Downtown Jacksonville! The Palms Hotel is a 3-story income-producing commercial property positioned in a high-visibility, high-demand location with strong cash flow potential. This established asset offers immediate income with upside for increased revenue through operational improvements, repositioning, or redevelopment opportunities. Strategically located near Jacksonville's business district, entertainment venues, dining, and major transportation corridors, this property benefits from consistent traffic and strong area growth. The building features multiple guest accommodations, on-site amenities, and excellent accessibility, making it ideal for investors seeking stable income in a growing urban market. With Downtown Jacksonville continuing to expand through redevelopment and economic growth, this property presents an exceptional opportunity for hospitality investors, owner-operators, or portfolio expansion.

Details

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Documents

Contract Information

Current Price: $1,300,000

List Price: $1,300,000

Status: Active

Listing Contract Date: 2026-05-19

Property Sub Type: Hotel/Motel

Location Tax and Legal

Street Number: 129

Street Direction Prefix: N

Street Name: MARKET

Street Suffix: Street

County: Duval

State: FL

Postal Code: 32202

MLS Area Major: 073-Downtown Jacksonville-Northbank

General Property Information

Building Area Total: 10647

Year Built: 1904

Lot Size Acres: 0.12

Waterfront YN: No

Directions: Take I-95 N to FL-10 W/US-90. Take the FL-10/US-1/Prudential Dr exit from Interstate 95 Service Rd Use the right lane to merge onto FL-202 W Use the right 2 lanes to take the FL-10/US-1/Prudential Dr exit toward Main St Bridge/Ocean St Continue on FL-10 W/US-90. Drive to N Market St Continue onto FL-10 W/US-90 Turn right onto E Monroe St Turn right onto N Market St Destination will be on the left

Public Remarks: Prime investment opportunity in the heart of Downtown Jacksonville! The Palms Hotel is a 3-story income-producing commercial property positioned in a high-visibility, high-demand location with strong cash flow potential. This established asset offers immediate income with upside for increased revenue through operational improvements, repositioning, or redevelopment opportunities. Strategically located near Jacksonville's business district, entertainment venues, dining, and major transportation corridors, this property benefits from consistent traffic and strong area growth. The building features multiple guest accommodations, on-site amenities, and excellent accessibility, making it ideal for investors seeking stable income in a growing urban market. With Downtown Jacksonville continuing to expand through redevelopment and economic growth, this property presents an exceptional opportunity for hospitality investors, owner-operators, or portfolio expansion.

List Price/SqFt: 122.1

Status Change Information

Major Change Timestamp: 2026-05-21T20:51:49Z

Major Change Type: New Listing

Property Features

Accessibility Features: Accessible Washer/Dryer; Common Area

Association Amenities: Management - Full Time; Management - On Site

Building Features: Lobby; Separate Office Area

Business Type: Hotel/Motel

Construction Materials: Concrete

Cooling: Central Air

Current Use: Hotel/Motel