Description
********PRINCIPALS ONLY********
The offering is currently 100 percent occupied with a diverse mix of
tenants including a dry cleaner, laundromat, Japanese restaurant, and the
anchor tenant 57 Heaven, which is a popular Orange Park nightclub. All
tenants have annual rent bumps, most of which, tied to the Consumer
Price Index (CPI).
This a tremendous opportunity for an investor to acquire a 100 percent
occupied retail center with an attractive day one, cash-on-cash return of
11.45 percent in a well established sub-market of Jacksonville.
********PRINCIPALS ONLY********
The 57 Heaven Center is located in Orange Park, Florida, a southwest
suburb of Jacksonville, Florida. The subject property is one parcel over
from the corner of Blanding Boulevard and Wells Road. Two of Clay
Counties busiest thoroughfares. Due to its high traffic count of over 81,000
cars per day, Blanding Boulevard is home to numerous retailers and auto
dealerships. Blanding Boulevard runs north-south and connects Orange
Park to Jacksonville as well as intersects Interstate 295.
This intersection of Blanding Boulevard and Wells Road is also home to
the Orange Park Mall. A 910,000 square foot shopping center with anchor
tenants such as, Sears, Belk, AMC Movie Theatres, Dick's Sporting Goods,
Old Navy, Books-A-Million, JCPenney, and Dillard's. The mall, located
minutes from I-295, is Clay County's and Southwest Jacksonville's main
shopping destination.