That would be 14,400 square feet. An acre is 43,560 square feet, so, yes, that is right at a third of an acre.
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About 0.39 acre.
120 ft x 80 ft = 0.2204 acres, approx.
To convert acres to square feet, you need to know that 1 acre is equal to 43,560 square feet. Therefore, a 0.27 acre lot would be equal to 0.27 x 43,560 = 11,773.2 square feet.
One acre has 43,560 square feet. Divide the number of square feet by that and you get the number of acres. This gives you an answer of .207 acres.
120 feet x 900 feet is 2.479 acres.