10320 Shops Ln Jacksonville, FL 32258

Property Details for 10320 Shops Ln

Property size

58,063 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 58,063 square foot shopping center in Jacksonville, Florida, presents a compelling investment opportunity. Located at 10320 Shops Ln, 32258, this property boasts a 7.50% cap rate and a strong net operating income (NOI) of $673,178, with an asking price of $8,975,715 ($154.59/sq ft). The center is strategically situated at the signalized intersection of Philips Highway (US Highway 1) and Southside Boulevard, just 0.5 miles from the I-95 and I-295 interchange, ensuring high visibility and accessibility. Currently 100% occupied, the center offers significant value-add potential with the possibility of expanding by an additional 10,000 square feet. Its prime location benefits from a shadow anchor, Walmart Supercenter, and proximity to two new residential developments adding 372 apartments and 182 townhomes, further bolstering its appeal. The surrounding area is densely populated, with over 170,000 residents within a 5-mile radius and an attractive average household income exceeding $120,000. This property represents a rare opportunity to acquire a high-performing retail asset in a thriving Jacksonville market. The property is part of the Avenues Walk development.