5014-5276 Blanding BlvdJacksonville, FL 32210

Property Details for 5014-5276 Blanding Blvd

Lot size

8.40 AC

Property size (Sq ft)

83,069 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents Blanding Town Center, a two-building retail center totaling 83,069 square feet, situated on an 8.4-acre lot in Jacksonville, Florida. Located at the high-traffic intersection of Blanding Boulevard (26,500 AADT) and 103rd Street (28,000 AADT), this property benefits from excellent visibility and accessibility. The center boasts an 86% occupancy rate, generating a strong net operating income (NOI) of $762,692, and an 8.50% capitalization rate. The asking price is $8,995,000, translating to a land value of $108.28 per square foot. The property features ample parking with a 4.25 spaces per 1,000 square feet ratio and is zoned CCG-1 (Commercial Community/General). The tenant mix is diverse, including e-commerce resistant businesses, offering stability and growth potential. Many tenants are currently paying below market rent, presenting a significant opportunity to increase revenue. Jacksonville's robust retail market, with 11.9% rent growth in 2023, further enhances the investment appeal. The property's location near major thoroughfares, I-295, US-17, and significant employment centers like Naval Air Station Jacksonville and Cecil Commerce Center, ensures strong tenant demand and long-term value appreciation. The average tenant lease term is 9.8 years, indicating a stable and reliable income stream. This property offers a compelling combination of immediate cash flow and significant upside potential in a rapidly growing market. The Duval County APN is 097639-0000.

Location Insight

City

Jacksonville

County

Duval

State

Florida

Latitude

30.2519

Longitude

-81.7431

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