Shopping Strip
Commonwealth Shopping Center
1020 Edgewood Ave N, Jacksonville, FL 32254
Listing Price: $7,250,000
Investment Overview
Marcus & Millichap is pleased to present the sale of Commonwealth Shopping Center. This is a unique opportunity to acquire a strong-performing, grocery-anchored shopping center in Jacksonville, Florida. The grocer, Rowe’s IGA Supermarket, recently executed a 10-year lease, with strong store sales and a very low rental rate.
Investment Highlights
- 81,467 SF Grocery Anchored Shopping Center Located in Jacksonville, Florida
- Grocery Anchor, Rowe's IGA Supermarket Executed a new 10-Year Lease and opened for business in May 2020 after investing $2.95MM into their space.
- Major Recent Upgrades to the Property Totaling $4 Million
- Rowe's IGA has an Incredibly Low Gross Rent to Sales Ratio of 1.1 Percent, Ensuring their Long-Term Viability at the Property
- Rare Rent Increases of 12.5 Percent every Five Years on the Grocery Anchor Provides for Strong Future NOI Growth and Appreciation
- Dollar Tree and Hibbett Sports also have Strong Health Ratios and Dollar Tree Recently Exercised a Five-Year Renewal
- Located within Opportunity Zone, Providing Potential Tax Benefits
Exclusively Listed By
Financing By
Listing Price: $7,250,000
Investment Highlights
- 81,467 SF Grocery Anchored Shopping Center Located in Jacksonville, Florida
- Grocery Anchor, Rowe's IGA Supermarket Executed a new 10-Year Lease and opened for business in May 2020 after investing $2.95MM into their space.
- Major Recent Upgrades to the Property Totaling $4 Million
- Rowe's IGA has an Incredibly Low Gross Rent to Sales Ratio of 1.1 Percent, Ensuring their Long-Term Viability at the Property
- Rare Rent Increases of 12.5 Percent every Five Years on the Grocery Anchor Provides for Strong Future NOI Growth and Appreciation
- Dollar Tree and Hibbett Sports also have Strong Health Ratios and Dollar Tree Recently Exercised a Five-Year Renewal
- Located within Opportunity Zone, Providing Potential Tax Benefits
Investment Overview
Marcus & Millichap is pleased to present the sale of Commonwealth Shopping Center. This is a unique opportunity to acquire a strong-performing, grocery-anchored shopping center in Jacksonville, Florida. The grocer, Rowe’s IGA Supermarket, recently executed a 10-year lease, with strong store sales and a very low rental rate.
Exclusively Listed By
Financing By

