Property Listing No Longer Available for Sale

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
UpdatedAugust 10th, 2015
TypeShopping Center
Price$18,100,000
Building219 Sq. Ft.
Land30.18 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.


Financials