9365 Philips Hwy, Jacksonville, FL 32256

Avenues North Center is a 98,791 SF, 100% leased neighborhood retail center located on a 17.89-acre site along Philips Highway in Jacksonville, Florida, one of the city’s primary commercial corridors.

This is a rare combination of durable income and a clear, accelerated path to rent appreciation.

High-Yield Retail Opportunity: Stabilized Asset with Rapid Upside

Strategically located on the high-traffic Philips Highway corridor, this 100% leased retail center combines immediate stability with an aggressive growth trajectory. Anchored by premier national brands like The Tile Shop and Edwin Watts Golf, the property serves as a dominant service-oriented hub in the thriving Butler/Baymeadows submarket.

Investment Highlights

• Prime Location & Visibility: Unmatched frontage (±720 ft) with 53,400 VPD and seamless access to I-95 and Butler Blvd.
• Elite Tenant Profile: 100% occupancy featuring 59% national tenancy, ensuring secure, credit-quality cash flow.
• Built-in Demand: Situated within a dense residential corridor, driving consistent, necessity-based daily traffic.
• AS-IS NOI: $1,081,641
• Year 5 NOI: $1,395,577

The "Mark-to-Market" Advantage

While the asset is currently stabilized, significant value-add potential exists through strategic turnover. Four key tenants have leases expiring within 24 months with no renewal options, allowing for:

• $100,000+ market to market opportunity with existing tenants.
• Efficient expense structure and income growth drive expanding returns, with NOI increasing from ~$1.12M to ~$1.78M and return on cost rising from 7.5% to 11.7%, achieving double-digit yields by Year 8.