129 N MARKET Street
Jacksonville, FL 32202
$850,000
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. Financials available upon request. Serious inquiries only must be pre approved with evidence (No Creative Financing or Subject - Deal)
| Listing Id: | 2146519 |
|---|---|
| List Price: | $1,100,000 |
| Close Price: | $850,000 |
| Close Date: | 2026-09-30 |
| Property Type: | Commercial Sale |
| Property Sub Type: | Hotel/Motel |
| Status: | Closed |
| Living Area: | 10,647 |
| Tax Annual Amount: | $10,778 |
| Lot Size Square Feet: | 5,227.2 |
| Lot Size Acres: | 0.12 |
| Waterfront?: | No |
| City: | Jacksonville |
| County Or Parish: | Duval |
| Postal Code: | 32202 |
| Year Built: | 1904 |
| List Agent Full Name: | TROY SMITH |
| Cooling: | Central Air |
| Road Frontage Type: | City Street |
| Lot Size Units: | Acres |
| Accessibility Features: | Accessible Washer/Dryer, Common Area |
| Heating?: | Yes |
| Cooling?: | Yes |
| State Or Province: | FL |
| Lot Features: | Other |
| Listing Terms: | Cash, Conventional |
| Sewer: | Public Sewer |
| Building Features: | Lobby, Separate Office Area |
| Listing Contract Date: | 2026-05-19 |
| Association Amenities: | Management - On Site, Management - Full Time |
| Lot Size Area: | 0.12 |
| Parcel Number: | 0734000000 |
| Possession: | Close Of Escrow |
| Current Use: | Hotel/Motel |
| Documents Change Timestamp: | 2026-05-21T20:51:49Z |
| Heating: | Central |
| Construction Materials: | Concrete |
| 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 |
| MLS Area Major: | 073-Downtown Jacksonville-Northbank |
| MLS Area Minor: | 073-Downtown Jacksonville-Northbank |
| Water Source: | Public |
| Tax Year: | 2025 |
| Approval Status: | Yes |
| Business Type: | Hotel/Motel |
| Status Change Information Price Change Timestamp: | 2026-09-14T08:42:59-05:00 |
| Sale Includes: | Business with Real Estate |
| Parking Features 2: | Off Street, Other |
Listing Courtesy of: THE LEGENDS OF REAL ESTATE
Listing Agent: TROY SMITH
904-614-8383
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realMLS data last updated on October 08, 2026 05:25 PM - ET.
Property Last Updated: October 08, 2026 05:25 PM - ET
