Renovated Grocery Store
For Sale
$1,900,000
2326 BLANDING Boulevard, Jacksonville, FL 32210
Real estate only sale includes a renovated grocery store building with ADA accessibility, ample parking, and a 2-bay loading dock.
Property Size4,324 SF
Lot Size0.71 Acres
Price / SF$439.41
Days on Market64
Property Features for 2326 BLANDING Boulevard
General Information
Standard status
Active
Size
4,324 SF
Total Parking Spaces
26
Lot size
0.71 Acres
Additional Details
Road Access
Yes
Dock-High Doors
2
Building Details
Year Built
1960
Year Renovated
2002
Listing Agency:
LINDA STRICKLAND REALTY
Listed By:
LINDA STRICKLAND
(904) 687-7876
Source:
Endlesssummerrealty
Added: Jul 6
Changed: Sep 6
Last Checked: Sep 6 at 7:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LINDA STRICKLAND REALTY
Investment Insights
Based on property information with market context.
Real estate only for sale and includes a 4,324-square-foot grocery store building. The property was renovated and updated in 2002 and is ADA accessible, with 2 handicapped-designated parking spaces plus 24 additional parking spaces. There are two HVAC units, including one approximately one year old. Access includes a 2-bay loading dock with metal roll doors.
The site consists of approximately 0.705 acres and has frontage on Blanding Boulevard and San Juan and Birkenhead Avenues.
The property is being offered with an existing operating history, as the business has been in operation for over 50 years as Lake Shore Produce Market.
The site consists of approximately 0.705 acres and has frontage on Blanding Boulevard and San Juan and Birkenhead Avenues.
The property is being offered with an existing operating history, as the business has been in operation for over 50 years as Lake Shore Produce Market.
Key Highlights
- Real estate only sale includes a 4,324 SF renovated grocery store building (year built 1960).
- Renovated and updated in 2002; ADA accessible with 2 designated handicapped parking spaces.
- Parking includes 2 handicapped spaces plus 24 additional parking spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,662
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,133,240
$1.1M
Cap Rate 7%
$809,457
$809.5K
Cap Rate 9%
$629,578
$629.6K
Market Conditions
NOI Build-Up for 4,324 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$83.0K $19.20/SF
− Vacancy
−$7.5K −$1.73/SF
EGI
$75.5K $17.47/SF
− OpEx
−$18.9K −$4.37/SF
NOI
$56.7K $13.10/SF
Area
ZIP 32210
Vacancy
9.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,133,240
Cap Rate 7%
$809,457
Cap Rate 9%
$629,578
Alternative Uses
Best Use
Specialty Retail
$809.5K
$708.3K – $944.4K
NOI $56,662 @ 7.0% cap · market cap 2.98%
Second Best
Retail
$698.2K
$610.9K – $814.5K
NOI $48,871 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,917 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Dock-high doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32210, FL
66,415
Population
29,198
Households
2.3
Avg Household Size
37
Median Age
23%
College-Educated
88%
High-School Grad
21.9 sq mi
ZIP Area
3,033
Density / Sq Mi
$58,215
Median Household Income
$36,997
Median Earnings
$1,205
Median Rent
$205,300
Median Home Value
Market
Vacancy Rate% for Retail in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Real estate only sale includes a renovated grocery store building with ADA accessibility, ample parking, and a 2-bay loading dock.
Where is this grocery and convenience store located?
The property is located at 2326 BLANDING Boulevard Jacksonville, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Real estate only sale includes a 4,324 SF renovated grocery store building (year built 1960).; Renovated and updated in 2002; ADA accessible with 2 designated handicapped parking spaces.; Parking includes 2 handicapped spaces plus 24 additional parking spaces.
