Renovated Neighborhood Shopping
4317 University Blvd S, Jacksonville, FL 32216
For Sale
$8,250,000
Three buildings received new roofs as part of the 2024 property renovation.
Property Size43,530 SF
Lot Size3.69 Acres
Price / SF$189.52
Days on Market48
Property Features for 4317 University Blvd S
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Site & Location
Neighborhood
Frontage
Anchor Co-Tenants
Traffic Count
Highway Access
Road Access
Additional Details
Cap Rate
Amenities
30%+ Upside in Leasing
New Roofs 3 Buildings 2024
Priced Below Replacement Cos
Strong Historic Occupancy
Priced Below Replacement Cost
Double Digit Cap Rate with Leasing
Building Details
Building Size
Year Built
Year Renovated
Buildings
Tenancy
Parking Ratio
Listing Agency:
Jacksonville Office
Listed By:
Chad Atwood
(904) 672-1404
Source:
Marcusmillichap
Added: Sep 26
Changed: Nov 2
Last Checked: Nov 12 at 4:19AM
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 Jacksonville Office
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Investment Insights
Based on property information with market context.
This Jacksonville neighborhood shopping center contains 43,530 square feet across three buildings on 3.69 acres. A renovation completed in 2024 included new roofs on all three structures. The center was built in 1972 and is 75% occupied. Firehouse Subs, a tenant for more than 30 years, is among the established businesses at the property.
The center fronts University Boulevard for approximately 420 feet and has two entry points, including access at the signalized Terry Road intersection. University Boulevard carries more than 44,000 vehicles per day. Interstate 95 is less than one mile away, and the property is within minutes of Downtown Jacksonville, Florida Memorial Hospital, Interstate 10, and the Atlantic beaches. Parking is provided at a ratio of 5.0 spaces per 1,000 square feet.
The center fronts University Boulevard for approximately 420 feet and has two entry points, including access at the signalized Terry Road intersection. University Boulevard carries more than 44,000 vehicles per day. Interstate 95 is less than one mile away, and the property is within minutes of Downtown Jacksonville, Florida Memorial Hospital, Interstate 10, and the Atlantic beaches. Parking is provided at a ratio of 5.0 spaces per 1,000 square feet.
Key Highlights
- 43,530‑square‑foot center on 3.69 acres
- 75% occupied
- Approximately 420 feet of frontage on University Boulevard, with exposure to more than 44,000 vehicles per day
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$491,985
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,839,700
$9.8M
Cap Rate 7%
$7,028,357
$7.0M
Cap Rate 9%
$5,466,500
$5.5M
Market Conditions
NOI Build-Up for 43,530 SF
Gross rent
$783.5K $18.00/SF
− Vacancy
−$80.7K −$1.85/SF
EGI
$702.8K $16.15/SF
− OpEx
−$210.9K −$4.84/SF
NOI
$492.0K $11.30/SF
Area
Jacksonville, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,839,700
Cap Rate 7%
$7,028,357
Cap Rate 9%
$5,466,500
Alternative Uses
Best Use
Retail
$7.03M
$6.15M – $8.20M
NOI $491,985 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.92M
$10.43M – $13.91M
NOI $834,731 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
44,000 VPD
Traffic count
75%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,038
Businesses Nearby
83k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 31%
Dining 30%
Shops & Services 26%
Apparel 8%
Harveys Supermarket
Groceries
17,591 visits/mo
0.3 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
12,260 visits/mo
0.2 miles
Save-A-Lot
Groceries
8,603 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
6,551 visits/mo
0.3 miles
Checkers
Dining
6,076 visits/mo
0.3 miles
Demographics for 32216, FL
42,847
Population
19,796
Households
2.2
Avg Household Size
37
Median Age
32%
College-Educated
92%
High-School Grad
12.7 sq mi
ZIP Area
3,374
Density / Sq Mi
$63,253
Median Household Income
$44,078
Median Earnings
$1,311
Median Rent
$244,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Shopping centers in Jacksonville
Vacancy Rate% for Retail in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Shopping center - Three buildings received new roofs as part of the 2024 property renovation.
Where is this shopping center located?
The property is located at 4317 University Blvd S Jacksonville, FL.
What is the asking price?
The asking price for this property is $8,250,000.
What are key features of this property?
This property features: 43,530‑square‑foot center on 3.69 acres; 75% occupied; Approximately 420 feet of frontage on University Boulevard, with exposure to more than 44,000 vehicles per day
