3604 Blanding Blvd (Walgreens)
Jacksonville, FL 32210
Asking Price: $2,600,000 (6.65% Cap Rate)
For: Sale
Property Type: Drug Store, Freestanding (NN Lease)
Building Size: 13,444 SF
Lot Size: 1.00 AC
Year Built: 1996 / Renovated 2010
Zoning: CCG-1 - Commercial Community/General-1
• NN lease, NOI $173,000
• Store sales available
• 197,681 residents within a 15-minute drive
• Flood Zone X
Freestanding Walgreens on the signalized hard corner of Blanding Blvd (SR 21) and Wilson Blvd. Walgreens has leased at this intersection since 1980; the current store was built for Walgreens in 1996. A 2020 amendment extended the term five years to Feb. 28, 2061; the next tenant termination option is Feb. 28, 2031.
NN lease: tenant pays taxes directly, reimburses property insurance, and maintains HVAC, interior, and parking. Drive thru pharmacy, pylon signage, and frontage on both roadways.
This investment opportunity is an outparcel to Cedar Hills Shopping Center on Jacksonville's Westside, near Dollar Tree, Hibbett Sports, Planet Fitness, Aldi, and McDonald's. Blanding Blvd links Orange Park and Clay County to Jacksonville's urban core, and Wilson Blvd connects west to Interstate-295. The 1-acre parcel rests in the desirable Flood Zone X, outside the high-risk flood hazard area.
Contact
Dee Maret
Kris Dumke
Kris@BridgewaterCommercial.com