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4186 University Blvd 5,996 SF Retail Building Jacksonville, FL 32216 $1,700,000 ($283.52/SF)
INVESTMENT HIGHLIGHTS
- Minimal Contractual Responsibility by Landlord
- Extensive recent renovations and upgrades have been made to the property
- Investment stabilizes at a 7 Cap when tenant is brought to market rent of $20.00 per square foot
- High Traffic Retail Corridor, fronted on University Blvd (32,000 VPD), the property is located in a densely populated trade area
- Stable Income with significant upside, producing $74,160 in income and 3% annual escalations for the remaining term
EXECUTIVE SUMMARY
Prime Realty is proud to present, For Sale, this approximately 5,996 SF property on 0.66 acres of land. Fronted on University Blvd (32,000 VPD) adjacent to long-standing Zaxby's, this Free Standing retail building is leased, absolutely NNN to Tienda Mi Rancho, a successful Hispanic Grocer and full service restaurant. The Property has recently
undergone extensive interior upgrades, including the kitchen, bathrooms, retail space, and electric. With 3.5 years of term left at below market rents and no renewal options, this is the perfect opportunity for an investor seeking to bring the rent up to market or an Owner User looking to collect income for the remaining term.
undergone extensive interior upgrades, including the kitchen, bathrooms, retail space, and electric. With 3.5 years of term left at below market rents and no renewal options, this is the perfect opportunity for an investor seeking to bring the rent up to market or an Owner User looking to collect income for the remaining term.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,996 SF
Building Class
C
Year Built
1978
Price
$1,700,000
Price Per SF
$283.52
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
0.66 AC
Zoning
CCG-1 - General Commercial Community - 1
Parking
18 Spaces (3 Spaces per 1,000 SF Leased)
Frontage
103’ on University Boulevard
Walk Score®
Very Walkable (75)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 137119-0020 | Improvements Assessment | $115,947 |
| Land Assessment | $441,953 | Total Assessment | $557,900 |
PROPERTY TAXES
Parcel Number
137119-0020
Land Assessment
$441,953
Improvements Assessment
$115,947
Total Assessment
$557,900
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