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9978 Atlantic Blvd Jacksonville, FL 32225

High-NOI, Multi-Tenant Net Lease

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional 46,000 square foot retail shopping center in Jacksonville, Florida, presents a compelling investment opportunity. Boasting a 100% occupancy rate with two corporate-guaranteed tenants, Northern Tool and JaxCo Furniture, this property offers a stable and predictable income stream. The Net Operating Income (NOI) currently stands at $497,981, with a pro-forma NOI matching this figure. The lease structure is a triple-net (NNN) lease, with JaxCo Furniture's rent subject to a 4% annual increase. The remaining lease term is approximately 4.6 years, expiring June 30, 2029. Built in 2008 and 1985, the property sits on a 5.67-acre lot and is zoned CCG-2. Its strategic location on Atlantic Boulevard, a major east-west thoroughfare, benefits from high traffic volume (70,000+ cars daily) and excellent visibility due to ample parking (186 spaces) and prominent pylon signage. The surrounding area is a thriving retail hub, anchored by numerous national retailers and automobile dealerships, further enhancing the property's value. Demographic data reveals a strong consumer base within a 3-mile and 5-mile radius, with average household incomes exceeding $53,568 and $62,348 respectively. The property's signalized intersection at Atlantic Boulevard and Anniston Road provides optimal ingress and egress. This is a rare opportunity to acquire a well-positioned, high-performing retail asset in a dynamic Jacksonville market.

Highlights

  • 46,000 SF retail center with 100% occupancy, two corporate-guaranteed tenants (Northern Tool & JaxCo Furniture).
  • $497,981 NOI; pro-forma NOI matches current NOI. Triple-net (NNN) lease; JaxCo Furniture rent increases 4% annually.
  • Remaining lease term: ~4.6 years (expires 6/30/2029). Built 2008 & 1985; 5.67-acre lot, CCG-2 zoning.
  • High-traffic location (70,000+ cars daily) on Atlantic Blvd; 186 parking spaces; prominent pylon signage.
  • Strong demographics: 76,870 people within a 3-mile radius, average household income $53,568; 206,345 people within a 5-mile radius, average household income $62,348.

Property Details for 9978 Atlantic Blvd

Property type
Lifestyle centers, Power centers
Square Feet
46,000 SF
Year Built
2008
Lot Size (sq. ft)
246,985 SF

Location Insight

City
Jacksonville
County
Duval
State
Florida
Latitude
30.321474470765
Longitude
-81.540936455959

FAQs

What type of property is this?
Lifestyle center - High-NOI, Multi-Tenant Net Lease
Where is the lifestyle center located?
The property is located at 9978 Atlantic Blvd Jacksonville, FL.
What are key features of this property?
This property features: 46,000 SF retail center with 100% occupancy, two corporate-guaranteed tenants (Northern Tool & JaxCo Furniture).; $497,981 NOI; pro-forma NOI matches current NOI. Triple-net (NNN) lease; JaxCo Furniture rent increases 4% annually.; Remaining lease term: ~4.6 years (expires 6/30/2029). Built 2008 & 1985; 5.67-acre lot, CCG-2 zoning.
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9978 Atlantic Blvd
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