5340 Soutel Dr, Jacksonville, FL 32219-3478
- Drug stores
- 13,845 SF
- 1.79 lot acres
Current Use by Public Records
- LibertyX Bitcoin ATM / Atm
- FedEx OnSite / Postal Service / Courier Service
- COVID-19 Drive-thru Testing at Walgreens / Pharmacy
- Walgreens / Pharmacy
- Walgreens Pharmacy / Pharmacy
Property Details for 5340 Soutel Dr
- Year built
- 1998
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.79 lot acres
- Zone code
- CCG-2
- Property type
- Drug stores
- APN
- 022232-0100
- APU
- 222320100
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 2, 2026 | $1,700,000 | Agape Community Health Center INC | Krishna Kesha V Kuruvadi Childrens | Special Warranty Deed | — |
| Feb 9, 2021 | — | Sathyanarayanaiah Kuruvadi | Texmac Properties LLC | Re-recorded Document · related | — |
| Apr 4, 2018 | $1,353,000 | Texmac Properties LLC | Moncrief Equities LLC | Warranty Deed | $879k · Trustone Fin'l FCU |
| Apr 4, 2018 | — | Texmac Properties LLC | Moncrief Equities LLC | Correction Deed · related | — |
| Feb 27, 1997 | $195,000 | Equities Moncrief | Ellis,mary M | Grant Deed · related | — |
Description
This exceptional investment opportunity presents a freestanding Walgreens pharmacy located at 5340 Soutel Dr, Jacksonville, FL 32219. The property boasts a substantial 14,548 square feet on a 1.83-acre lot, situated on a signalized corner with high visibility and traffic counts exceeding 21,000 vehicles per day. Walgreens, a nationally recognized brand, has occupied this location since its construction in 1998, recently extending their lease through February 27, 2033, demonstrating a strong commitment to the site. The current lease is a Net Net + (NN+) with four, five-year renewal options. The asking price is $2,070,000, representing a compelling price per square foot of $142.29 and a 7.50% cap rate based on a current Net Operating Income (NOI) of $155,000. The property benefits from a strong demographic profile, with over 47,000 residents within a three-mile radius and 130,000 within five miles. Its excellent location is further enhanced by its proximity to Harvey's Supermarket and a 20-minute drive to Jacksonville International Airport. Significant improvements were made in 2021, including a new roof. The current annual rent of $10.65 per square foot is significantly below market and chainwide averages. This is a rare opportunity to acquire a stable, high-performing asset in a prime Jacksonville location, in the income-tax free state of Florida.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,610,000
- 6.5%
- $2,405,000
- 7%
- $2,235,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $2,345,000
Market price range: $669k - $2.35M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $2,505,000 Current use
- MEDICAL BUILDING
- $3,165,000 Change: +26% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $2,955,000 Change: +18% Conversion: Difficult
- OFFICE BUILDING
- $2,690,000 Change: +7% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $2,285,000 Change: -9% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $2,225,000 Change: -11% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Jacksonville
- County
- Duval
- State
- Florida
- Longitude
- -81.7307
- Latitude
- 30.3925
- CBSA code
- 27260
- CBSA name
- JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA
