Marcus & Millichap is pleased to offer the opportunity to acquire an 39,528-square foot, grocery-anchored, multi-tenant retail center located in Jacksonville, Texas. Jacksonville Village is currently 92 percent occupied, and 52 percent of the leases are triple-net leases. The center is a complementary mix of internet-resistant tenants including Factory Connection, Little Caesars, Vape Shop, H&R Block, Super Cuts, Super Gallo Mercado, Break N Bread Natural Foods, Torres Western Wear, Nails by Rose, Clinica Hispana, J-Mart Beauty Supply, and No Limit Nutrition. Constructed in 2006, the center is situated on a 3.75-acre parcel.
Jacksonville Village is located on South Jackson Street/Highway 69, the major north-south thoroughfare in the city, in a dense retail trade area of Jacksonville. Traffic counts in front of the property exceed 21,500 vehicles per day. The property is shadow-anchored by Walmart Supercenter. Other national retailers in the area include Hibbett Sports, AT&T, CVS Pharmacy, O’Reilly Auto Parts, Verizon, Chili’s, Wendy’s, Dairy Queen, Jersey Mike’s Subs, Wing Stop, Tractor Supply Co., Rent-A-Center, Buddy’s Home Furnishings, Dollar Tree, AutoZone, Atwoods, Stage, Sherwin-Williams, Whataburger, Panda Express, and more. The center is in close proximity to many schools, providing additional traffic to the area. The five-mile population is 21,638 residents, and the five-mile household income exceeds $61,780.
- 39,528-Square Foot, Multi-Tenant Retail Center | Shadow-Anchored by Walmart Supercenter
- Anchored by Super Gallo Mercado Grocery Store
- 92% Occupied | 52% of the Gross Leasable Area has Triple-Net Leases
- Significant Upside Potential in Leasing the Remaining Vacancy and Converting All Leases to Triple-Net | Pro Forma Cap Rate is 10.81%
- Complementary Mix of Service-Oriented, Internet-Resistant Businesses
- Priced at $88 per Square Foot | Well Below Replacement Value
- Located in a Dense Retail Trade Area on South Jackson Street/Highway 69, the City’s Major North/South Thoroughfare
- Traffic Counts in Front of the Property Exceed 21,500 Vehicles per Day
- Easily Accessible from Multiple Ingress and Egress Points
- Close Proximity to Local Schools Providing Additional Traffic to the Area
- Located in Cherokee County and part of the Tyler-Jacksonville Combined Statistical Area
- 28 Miles South of Tyler, Texas | The Largest City in Northeast Texas
- Jacksonville is a Large Producer and Shipper of Tomatoes | Know as the “Tomato Capital of the World”
