3000 Dunn Avenue, Jacksonville, FL
Shopping Center for Sale - $18,100,000 - 219 Sq. Ft. on 30.18 acres
Property Info
CIMLS# | 822063 |
Location 3000 Dunn Avenue Jacksonville FL 32218 | |
Updated | August 10th, 2015 |
Type | Shopping Center |
Price | $18,100,000 |
Building | 219 Sq. Ft. |
Land | 30.18 acres |
Property Description
The Property is anchored by Winn Dixie and
JC Penney, both of which have long occupancy history at the center with excellent store sales history.
86% of the currently leased tenancy at the Property has been in occupancy at the center for at least ten years.
Winn Dixie and JC Penney account for 57% of the GLA at the Property and 40% of the in-place potential gross income.
Jacksonville Regional Shopping Center is located along Dunn Avenue, the dominant east-west corridor on Jacksonville's north side. Daily traffic counts near the center exceed 16,000.
The trade area has seen tremendous growth in the last decade. Cumulative population growth within three miles of Jacksonville Regional was 20%.
The property has upside through the lease up of currently 4 vacant spaces. The 9,700 SF is comprised of mostly small shop inline space.
Projected 9% Cap Rate based on 100% stabilization.