4948 Big Island Dr - Freestanding FOR SALE


Jacksonville, FL 32246- Deerwood
$3,571,250 USD
786-522-7009
4948 Big Island Dr, Jacksonville, FL for Sale
$3,571,250 USD
Freestanding - FOR SALE
1/8
null | 6.4% Cap Rate

4948 Big Island Dr
Jacksonville, FL 32246
Deerwood


HIGHLIGHTS

  • Corporate Guarantee From Credit Rated Tenant: Verizon Has BBB+ Credit Rating (S&P)
  • Wireless Telecom Top Market Contender: Verizon Has 34% of Sector’s Market Share
  • Long Term Tenancy: Verizon Has Been at This Site Since 2014 – 11+ Years – 4th Most Visited Verizon in a15 Mile Radius
  • Dense & High AHHI Neighborhood: 11,000+ People & $113,000 AHHI Within 1 Mi Radius of Subject
  • St Johns Town Center Location: Ranked 2nd of 592 Lifestyle Centers Nationwide – 98% Percentile
  • Close To Massive Development Projects: Over 516,000 SF of Retail / Mixed Use Space, & a 15,000 SF Soccer Stadium Planned / Under Construction

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a net leased investment consisting of a corporate backed Verizon Wireless retail store with a privileged location. The property is located on Big Island Drive, a key thoroughfare of Jacksonville’s very successful St. John’s Town Center open air mall. The St John’s Town Center is the premier shopping destination in the region with over 175 shops and restaurants. This well-established Verizon store has operated at the St John’s Town Center since 2014. The twelve-year-old store has a Placer traffic ranking of 4th out of 17 stores within a 15-mile radius. The subject property features a 4,049 SF building constructed in 2014. The site includes multiple access points, excellent visibility, ample parking via reciprocal easement agreement with adjacent retail center. The property enjoys high-visibility frontage along Big Island Drive (10,000+ VPD) within the outdoor shopping center. The property benefits from exceptional regional access via nearby Butler Blvd, which carries 120,000+ VPD. The St John’s Town Center Verizon store benefits from strong traffic counts along major routes and synergistic co-tenancy with neighboring top retailers including the Apple Store, Lululemon, Tiffany & Co, Target, Costco, and Publix. The area has a population of 75,330 within a 3-mile radius and 190,642 within a 5-mile radius, with AHHIs of $99,073 and $97,573, respectively. Jacksonville is one of the fastest-growing metropolitan areas in the United States, and the immediate area is poised for significant growth due to massive planned and under-construction development projects featuring over 515,000 SF of retail/mixed-use space and a 15,000 SF soccer stadium. Verizon Wireless—a leading wireless telecommunications provider and one of the largest carriers in the United States with 34% of total market share—is backed by a BBB+ credit rating (S&P) and a corporate guarantee from Cellco Partnership. The brand offers institutional-grade investment security. This site underscores the tenant’s strategic importance and long-term commitment to this high-traffic retail location.

FOR SALE DETAILS

PRICE

$3,571,250 USD

PRICE/SF

$893 USD /SF

CAP RATE

6.4%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Verizon Wireless-Corp.-St Johns Town Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,585 SF

ZONING

PUD

APN/PARCEL ID

167726-2160

ASK ABOUT THIS PROPERTY

Scott SandelinThe Sandelin GroupMore Info
786-522-7009

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Scott SandelinThe Sandelin GroupMore Info
786-522-7009

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.