Oceanway Plaza

Oceanway Plaza

12333 Sago Avenue West
Jacksonville, FL

Price: $3,446,000
Cap: 7.00%
NOI: $241,233
Building Size: 57,376
Lot Size: 6.62 AC

Investment Highlights

The subject property is a 98% Leased 57,376 SF Winn Dixie anchored retail center in Jacksonville, FL

• Oceanway Plaza is anchored by a 41,384 SF Winn Dixie grocery store
• Winn Dixie recently executed a new 10-year extension
• Winn Dixie has been at this location for over 40 years, originally occupying the space in in 1978
• Base rent to sales ratio of .70% | Sales of $543/SF | Rent under $4/SF
• The Roof was replaced in 2018 and has a 20 year warranty

• Property is located at the high traffic intersection of I-295 (75,500 VPD) & N Main Street (21,000)
• Just 10 minutes from Jacksonville International Airport
• Limited competition | Only 2 other national grocers in a 5 mile radius
• Nestled in a dense suburban pocket | 12,152 houses in a 3-Mile radius
• Jacksonville, FL is the headquarters of Winn Dixie (Southeastern Grocers)

• 3-Mile Population: 35,250
• 3-Mile Avg HHI: $70,324
• 3-Mile Growth: 7.72%

• The property is located in Jacksonville, FL, which is the most populous city in Florida and the largest city by area in the United States
• Jacksonville, the country seat of Duval County, is the cultural, commercial and financial center of Northern Florida.
• A major military and civilian deep-water port, the city’s riverine location supports two United States Navy bases and the Port of Jacksonville, Florida’s third-largest seaport
• The Port of Jacksonville is a leading port in the United States for automobile imports, as well as the leading transportation and distribution hub in the state.
• The city is home to many prominent corporations and organizations, including the headquarters of four Fortune 500 companies: CSX Corporation, Fidelity National Financial, Fidelity National Information Services, and Southeastern Grocers.
• In addition to being the home of NFL Team the Jacksonville Jaguars, Three colleges and universities lie within the city’s limits: the University of North Florida, Jacksonville University, and Florida State College at Jacksonville

Zach Taylor
Eric Abbott

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