9041 Southside Blvd Jacksonville, FL 32256-5484

Southside Square, a 36,870-square-foot shopping center in Jacksonville, Florida, presents a compelling investment opportunity. Located at 9041 Southside Blvd, zip code 32256, this multi-tenant retail property boasts a 100% occupancy rate and a strong net operating income (NOI) of $770,866, yielding a 6.50% cap rate. The asking price is $11,870,000, translating to $321.94 per square foot. Built in 1991 and situated on a 2.68-acre lot, the center benefits from its strategic location within a densely populated submarket, boasting over 163,000 residents within a 5-mile radius and average household incomes exceeding $115,000. The property enjoys high visibility, with 48,500 vehicles passing daily on Southside Boulevard. National tenants such as Five Below, Pet Supermarket, and LensCrafters anchor the center, contributing to its robust performance. The center's proximity to major retailers like Target, Home Depot, Academy Sports, Aldi, and HomeGoods, along with a significant concentration of office space (21 million square feet within 5 miles), further enhances its appeal. The existing leases offer significant upside potential, with many currently below market rates, allowing for substantial NOI growth through future rental increases. This property offers a strong hedge against inflation due to the built-in rental escalations within the lease agreements. The property's success is further amplified by its location near The Avenues, a large shopping center with over 1.1 million square feet of retail space. Jacksonville's robust population growth, ranking fourth nationally last year, adds to the long-term investment potential of this exceptional retail asset.