Building Details

Tenancy Multi

Listing Agency: Colliers | Jacksonville Show Phone

Listed By: Gary Montour Show Phone

Source: Moodyscre

Added: Jun 13, 2025 Changed: Oct 1 Last Checked: Oct 16 at 11:56AM

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Investment Insights

Based on property information with market context.

This 5,836-square-foot drug store property includes two occupied tenant spaces: a pharmacy and a jewelry retailer. Both leases are short term, providing an existing multi-tenant configuration within the asset.

The property is near Roosevelt Mall, a Publix-anchored shopping center comprising approximately 2,372,053 square feet. Access is available to Roosevelt Boulevard and I-295. The property carries CN zoning, and an adjacent building and parcel at 4163 Oxford Avenue are also available.

Key Highlights

• 5,836‑square‑foot drug store property with two tenant spaces
• Current tenants include a pharmacy and a jeweler
• Both tenant leases are short term

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$76,475

Cap Rate

5.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,529,500 $1.5M

Cap Rate 7%

$1,092,500 $1.1M

Cap Rate 9%

$849,722 $849.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,836 SF

Gross rent

$112.1K $19.20/SF

− Vacancy

−$10.1K −$1.73/SF

EGI

$102.0K $17.47/SF

− OpEx

−$25.5K −$4.37/SF

NOI

$76.5K $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 Rate 5%

$1,529,500

Cap Rate 7%

$1,092,500

Cap Rate 9%

$849,722

Alternative Uses

Best Use

Specialty Retail

$1.09M

$955.9K – $1.27M (±1% cap)

NOI $76,475 @ 7.0% cap · market cap 5.46%

Second Best

Retail

$942.3K

$824.5K – $1.10M (±1% cap)

NOI $65,960 @ 7.0% cap · market cap 4.71%

Theoretical Best

Office A

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $111,911 @ 7.0% cap · market cap 7.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Drug stores

Suggested Use

Top Pick Dental Office Auto Repair Shop Electrical Service Kitchen & Bath Showroom Building Supply Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

168

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

6.3% 2019

7.5% 2020

5.6% 2021

5.5% 2022

5.8% 2023

5.8% 2024

6.6% 2025

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Frequently Asked Questions

What type of property is this?

Drug store - CN-zoned commercial property with access to Roosevelt Boulevard and I-295.

Where is this drug store located?

The property is located at 2923-2925 Corinthian Ave Jacksonville, FL.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: 5,836‑square‑foot drug store property with two tenant spaces; Current tenants include a pharmacy and a jeweler; Both tenant leases are short term