5340 Soutel Dr Jacksonville, FL 32219

Property Details for 5340 Soutel Dr

Year built

1998

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.79 lot acres

Property size

13,845 SF

Zone code

CCG-2

Property type

Drug stores

APN

022232-0100

APU

222320100

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.

Location Insight

City

Jacksonville

County

Duval

State

Florida

Longitude

-81.7307

Latitude

30.3925

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments