For Sale
$8,975,715

10320 Shops LnJacksonville, FL 32258

High-Yield Retail Center in Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 58,063 square foot shopping center in Jacksonville, Florida, presents a compelling investment opportunity. Located at 10320 Shops Ln, 32258, this property boasts a 7.50% cap rate and a strong net operating income (NOI) of $673,178, with an asking price of $8,975,715 ($154.59/sq ft). The center is strategically situated at the signalized intersection of Philips Highway (US Highway 1) and Southside Boulevard, just 0.5 miles from the I-95 and I-295 interchange, ensuring high visibility and accessibility. Currently 100% occupied, the center offers significant value-add potential with the possibility of expanding by an additional 10,000 square feet. Its prime location benefits from a shadow anchor, Walmart Supercenter, and proximity to two new residential developments adding 372 apartments and 182 townhomes, further bolstering its appeal. The surrounding area is densely populated, with over 170,000 residents within a 5-mile radius and an attractive average household income exceeding $120,000. This property represents a rare opportunity to acquire a high-performing retail asset in a thriving Jacksonville market. The property is part of the Avenues Walk development.

Highlights

  • $8,975,715 asking price for this 58,063 square foot retail shopping center.
  • 7.50% cap rate with a $673,178 NOI.
  • Located at the signalized intersection of Philips Highway (US 1) and Southside Blvd, near I-95 and I-295 interchange in Jacksonville, FL.
  • Shadow-anchored by a Walmart Supercenter, offering significant value-add potential.
  • Currently 100% occupied, with potential for 10,000 SF expansion.

Property Details for 10320 Shops Ln

Property type
Lifestyle centers, Power centers
Square Feet
58,063 SF

Location Insight

City
Jacksonville
County
Duval
State
Florida
Latitude
30.1768042
Longitude
-81.5573288
10320 Shops Ln, Jacksonville, Florida

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10320 Shops Ln
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