Property profile

5451 Norwood Ave Jacksonville, FL 32208

OFF-MARKET
Strip malls
Property ID
US18-0323856
61,511 SF 4.87 ac lot Built 1969
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional commercial land offering presents a rare investment opportunity in the thriving Norwood Plaza Flea Market area of Jacksonville, Duval County, Florida. The property comprises two contiguous parcels totaling 2.3 acres (1.5 acres and 0.8 acres). Its strategic location offers unparalleled visibility and accessibility, situated in the heart of Jacksonville with convenient access to I-95, ensuring high traffic volume. The existing Norwood Plaza Flea Market boasts a strong tenant base, including several large-format retailers, further demonstrating the area's robust commercial activity and high demand. The city approves nearly any commercial use for this land, providing remarkable flexibility for potential development. This presents a unique chance to construct a single-tenant building tailored to your specific business needs, or to develop a multi-tenant structure. Pre-approved standard building plans are available for corporate tenants, streamlining the development process. Serious inquiries are encouraged to explore the full potential of this exceptional property and capitalize on this once-in-a-lifetime opportunity to own a significant piece of Jacksonville's commercial landscape. The property is zoned for commercial use and is ready for immediate development.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1969
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 61,511 SF
Lot 4.87 ac (212,197 SF)
Zoning code CCG-1
APN 029936-0100
UPID US18-0323856

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Mobile Phone Store Electronics & Wireless Store
  • Clothing & Fashion Store

Location

5451 Norwood Ave Jacksonville, FL 32208-5008
Jacksonville metro Census 1402 JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$3.55M
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.75M
Blend (final) Blend
$3.37M

Owner & transaction history

since 2021
Last sale
$3.1M
5 recorded transactions
2024
Price N/A
2021
$3.1M
2019
Price N/A
2019
$650,000
2004
$1.8M

Zoning & alternative use

CCG-1 · Jacksonville, FL
Zoning description

(CCG-1), Commercial Community/General-2 (CCG-2), and Planned Unit Development (PUD) having commercial uses. (c) Building Form and Finish Materials. The following general provisions shall apply to all Development in the M…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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