Shopping Strip
Commonwealth Shopping Center
1020 Edgewood Ave S, Jacksonville, FL 32205
Listing Price: $7,200,000
Cap Rate
7.93%
Gross SF
81,467
Rentable SF
81,467
Price/Gross SF
$88.38
Lot Size
13.02 acres
Year Built
1984
Investment Overview
Marcus & Millichap is pleased to present for sale, Commonwealth Shopping Center located in Jacksonville, Florida.
Commonwealth Shopping Center
Investment Highlights
- 81,467 SF Grocery-Anchored Shopping Center in Jacksonville, FL
- 100% Occupied - Offered at $7.2 Million, a 7.5% Cap Rate and Just $88 Per Square Foot
- Rowe's IGA Supermarket Enjoys a Very Strong Rent to Sales Ratio and Invested Approximately $3 Million into their Store Buildout in 2020
- Rowe's IGA is owned by parent company, Massy Holdings, Ltd., a publicly traded company with annual revenue of $2.3 billion.
- Half of the Tenants have Successfully Operated at the Center for More than 10 Years and Exercised Renewal Options
- Adjacent and Connected to New Construction Wawa, Providing Additional Traffic Flow
- Located at the Signalized Corner of Edgewood Ave North and Commonwealth Ave
- Edgewood Ave Connects Directly to Interstate 10 Just 1.5 Miles to the South and Commonwealth Ave Connects Directly to Interstate 295 Just 1.5 Miles to the West
Listing Price: $7,200,000
Cap Rate
7.93%
Gross SF
81,467
Rentable SF
81,467
Price/Gross SF
$88.38
Lot Size
13.02 acres
Year Built
1984
Investment Highlights
- 81,467 SF Grocery-Anchored Shopping Center in Jacksonville, FL
- 100% Occupied - Offered at $7.2 Million, a 7.5% Cap Rate and Just $88 Per Square Foot
- Rowe's IGA Supermarket Enjoys a Very Strong Rent to Sales Ratio and Invested Approximately $3 Million into their Store Buildout in 2020
- Rowe's IGA is owned by parent company, Massy Holdings, Ltd., a publicly traded company with annual revenue of $2.3 billion.
- Half of the Tenants have Successfully Operated at the Center for More than 10 Years and Exercised Renewal Options
- Adjacent and Connected to New Construction Wawa, Providing Additional Traffic Flow
- Located at the Signalized Corner of Edgewood Ave North and Commonwealth Ave
- Edgewood Ave Connects Directly to Interstate 10 Just 1.5 Miles to the South and Commonwealth Ave Connects Directly to Interstate 295 Just 1.5 Miles to the West
Investment Overview
Marcus & Millichap is pleased to present for sale, Commonwealth Shopping Center located in Jacksonville, Florida.
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