Retail Shopping Center
For Sale
Contact for pricing
450 Busch Dr, Jacksonville, FL 32218
Shopping center at 450 Busch Dr with retail space and access to I-95 via Busch Drive or North Main St.
Property Size14,341 SF
Price / SF$184.78
Days on Market73
Property Features for 450 Busch Dr
General Information
Standard status
Active
Size
14,341 SF
Property subtype
Retail
Zoning
CCG-1
Occupancy
100%
Lease Type
NN
Investment Type
Value Add
Net Operating Income
$207,852
Additional Details
Highway Access
Yes
Building Details
Year Built
1989
Year Renovated
2004
Units
7
Tenancy
Multi
Listing Agency:
SVR Commercial LLC Ponte Vedra Beach
Listed By:
Lenny DeGirolmo · License #SL3505175
(904) 903-9729
Source:
Crexi
Added: Jun 29
Changed: Sep 2
Last Checked: Sep 9 at 7:02AM
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 SVR Commercial LLC Ponte Vedra Beach
Investment Insights
Based on property information with market context.
SVR Commercial LLC, as exclusive advisor, presents a for-sale retail shopping center at 450 Busch Dr in Jacksonville, Florida. Public remarks describe the property as a value-add investment opportunity with an emphasis on improving and optimizing the existing rental base and overall center condition.
The shopping center is described as offering convenient access through Busch Drive or North Main St to I-95, supporting strong ingress and egress. The property is also approximately a mile from Orange Park Mall, and the surrounding retail district includes retailers such as Amazon, Publix, Sam’s Club, Starbucks, Bank of America, and the United States Postal Service.
According to the marketing materials, planned property enhancements are expected to support higher rental revenue and overall asset value, alongside efforts such as lease optimization and rent alignment. Investors are positioned to pursue income growth through targeted improvements while maintaining the center’s retail tenancy.
The shopping center is described as offering convenient access through Busch Drive or North Main St to I-95, supporting strong ingress and egress. The property is also approximately a mile from Orange Park Mall, and the surrounding retail district includes retailers such as Amazon, Publix, Sam’s Club, Starbucks, Bank of America, and the United States Postal Service.
According to the marketing materials, planned property enhancements are expected to support higher rental revenue and overall asset value, alongside efforts such as lease optimization and rent alignment. Investors are positioned to pursue income growth through targeted improvements while maintaining the center’s retail tenancy.
Key Highlights
- Shopping center at 450 Busch Dr in Jacksonville, FL, built in 1989
- About 1 mile from Orange Park Mall
- Easy access to I‑95 via Busch Drive or North Main St
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
$162,085
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
6.12%
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%
$3,241,700
$3.2M
Cap Rate 7%
$2,315,500
$2.3M
Cap Rate 9%
$1,800,944
$1.8M
Market Conditions
NOI Build-Up for 14,341 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
$258.1K $18.00/SF
− Vacancy
−$26.6K −$1.85/SF
EGI
$231.5K $16.15/SF
− OpEx
−$69.5K −$4.84/SF
NOI
$162.1K $11.30/SF
Area
ZIP 32218
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 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%
$3,241,700
Cap Rate 7%
$2,315,500
Cap Rate 9%
$1,800,944
Alternative Uses
Best Use
Retail
$2.32M
$2.03M – $2.70M
NOI $162,085 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.83M
$3.35M – $4.46M
NOI $267,775 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
222k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 35%
Dining 31%
Shops & Services 29%
Home Improvements & Furnishings 4%
Sam's Club
Superstores
77,048 visits/mo
0.2 miles
McDonald's
Dining
28,290 visits/mo
0.5 miles
Wells Fargo
Shops & Services
16,800 visits/mo
0.4 miles
Dollar Tree
Shops & Services
16,534 visits/mo
0.3 miles
dd's DISCOUNTS
Shops & Services
13,636 visits/mo
0.5 miles
Demographics for 32218, FL
67,040
Population
27,895
Households
2.4
Avg Household Size
37
Median Age
26%
College-Educated
90%
High-School Grad
96.7 sq mi
ZIP Area
693
Density / Sq Mi
$68,363
Median Household Income
$37,322
Median Earnings
$1,416
Median Rent
$260,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Jacksonville, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Highland Square — 1010 Dunn Ave, Jacksonville, FL 32218
- Coin Cloud Bitcoin ATM — 1036 dunn ave, jacksonville, fl 32218
Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center at 450 Busch Dr with retail space and access to I-95 via Busch Drive or North Main St.
Where is this shopping center located?
The property is located at 450 Busch Dr Jacksonville, FL.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Shopping center at 450 Busch Dr in Jacksonville, FL, built in 1989; About 1 mile from Orange Park Mall; Easy access to I‑95 via Busch Drive or North Main St
