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Shopping Neighborhood

Family Dollar Center

10690 Lem Turner Rd, Jacksonville, FL 32218

Listing Price: $5,600,000

Cap Rate
7.01%
Gross SF
58,166
Rentable SF
58,166
Price/Gross SF
$96.28
Lot Size
5.67 acres
Year Built
1969

Investment Overview

Marcus & Millichap is pleased to present Family Dollar Center, a +/- 60,000 SF Neighborhood Shopping Center located on the signalized intersection of Lem Turner Rd and Leonid Rd, AADT of 26,000 and 8,900, respectfully. Leonid Rd leads into Dunn Ave, +/- 1.25 miles, and has an AADT of 34,000. The structure is situated upon 5.67 acres, was built in 1969, and renovated in 1987. Nine tenants occupy the center, and two additional outparcel tenants, an ATM, and an icehouse occupy the southeast fringe of the parking lot. The structure hosts an array of local and national tenants located inside storefront retail space allotting efficiency and effectiveness in traffic flow throughout the property. The center currently has one vacant unit containing 12,211 SF, enabling a prospective investor the ability to capitalize on value-add upside by leasing that unit and maintaining a fully stabilized asset. Also, the property has additional outparcel development potential as the current outparcel tenants occupy minimal space. This property has multiple points of ingress/egress from Lem Turner Rd, which boasts 529 FT of frontage and three curb cuts. Lem Turner Rd is +/- 2 miles from I-295, and Leonid Rd is +/- 2.25 miles from I-95, AADT of 65,000 and 73,000, respectively. I-95 and I-295 are the commercial arteries insulating Jacksonville from the rest of Florida and the Southeast of the US.

Investment Highlights

  • Excellent Visibility and Curb Appeal Fronting Lem Turner Rd/Leonid Rd – AADT 26,000/8,900
  • 10.71% Cash On Cash Return Achievable In Year 2 With Current Financing Options
  • Value-Upside Vacancy | One Unit - 12,211 SF
  • Located on a Hard Signalized Intersection
  • Array Of Tenants Offering Efficiency and Effectiveness in Traffic Flow
  • 529 Feet of Frontage on Lem Turner Rd
  • Four Points of Ingress/Egress Allotting Ease of Transportation
  • Outparcel Development Potential

Exclusively Listed By

Financing By

Shopping Neighborhood

Family Dollar Center

Listing Price: $5,600,000

Cap Rate
7.01%
Gross SF
58,166
Rentable SF
58,166
Price/Gross SF
$96.28
Lot Size
5.67 acres
Year Built
1969

Investment Highlights

  • Excellent Visibility and Curb Appeal Fronting Lem Turner Rd/Leonid Rd – AADT 26,000/8,900
  • 10.71% Cash On Cash Return Achievable In Year 2 With Current Financing Options
  • Value-Upside Vacancy | One Unit - 12,211 SF
  • Located on a Hard Signalized Intersection
  • Array Of Tenants Offering Efficiency and Effectiveness in Traffic Flow
  • 529 Feet of Frontage on Lem Turner Rd
  • Four Points of Ingress/Egress Allotting Ease of Transportation
  • Outparcel Development Potential

Investment Overview

Marcus & Millichap is pleased to present Family Dollar Center, a +/- 60,000 SF Neighborhood Shopping Center located on the signalized intersection of Lem Turner Rd and Leonid Rd, AADT of 26,000 and 8,900, respectfully. Leonid Rd leads into Dunn Ave, +/- 1.25 miles, and has an AADT of 34,000. The structure is situated upon 5.67 acres, was built in 1969, and renovated in 1987. Nine tenants occupy the center, and two additional outparcel tenants, an ATM, and an icehouse occupy the southeast fringe of the parking lot. The structure hosts an array of local and national tenants located inside storefront retail space allotting efficiency and effectiveness in traffic flow throughout the property. The center currently has one vacant unit containing 12,211 SF, enabling a prospective investor the ability to capitalize on value-add upside by leasing that unit and maintaining a fully stabilized asset. Also, the property has additional outparcel development potential as the current outparcel tenants occupy minimal space. This property has multiple points of ingress/egress from Lem Turner Rd, which boasts 529 FT of frontage and three curb cuts. Lem Turner Rd is +/- 2 miles from I-295, and Leonid Rd is +/- 2.25 miles from I-95, AADT of 65,000 and 73,000, respectively. I-95 and I-295 are the commercial arteries insulating Jacksonville from the rest of Florida and the Southeast of the US.

Exclusively Listed By

Financing By

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