406 Atlantic Blvd
Neptune Beach, FL 32266
Walgreens · Retail Property For Sale

This trophy Walgreens offering at 406 Atlantic Boulevard is just east of Jacksonville at one of the region' s premier coastal intersections. Located at the SWC of of Atlantic & A1A, this has average daily traffic counts of 50,000, the property is situated on the edge of the communities of Neptune Beach & Atlantic Beach. And, their common and newly renovated downtown area, Beaches Town Center, is directly across from the subject. In addition to high traffic traffic, high incomes and a captive population, the weekend surge delivered by visitors to the Beaches Town Center, nearby hotels and the beach make this a generational investment opportunity. - Annual base rent:$345,000 ($22.91 psf) - Current term expiration:10/31/27 (Walgreens recently extended its lease until 10/31/27 and has four, five-year options beyond) - Year Built:1997 - Lease Structure:NN - Acreage: 1.81 - Square Footage:15,120 - Parking: 58 spaces - Access: 3 ingress/egress points + signalized intersection (50,000 AADT) - Location: going to beach side of Atlantic Blvd - Zoning:CBD, City of Neptune Beach - Reported Sales:$3.122MM (FYE 10/31/16) Area Highlights - Premier coastal intersection near Jacksonville. 50,000 AADT at intersection of Atlantic Blvd & A1A - Strong Demographics: 1 Mile Estimated Annual Population of 8,500 1 Mile Estimated Average HH Income in excess of $120,000 - Across from Beaches Town Center, a destination and pedestrian friendly mixed-use area, featuring many boutiques, fitness centers, restaurants and two oceanfront hotels - Nearly $300MM in bank deposits within ½ mile - High barriers to entry. Consequently, CVS located off corner to the west of Walgreens. - Adjacent Kmart is scheduled to close in June' 16. - 5 miles south of Naval Station Mayport, home to the 3rd largest naval surface fleet in the US.