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Commonwealth Shopping Center 1012-1020 Edgewood Ave N 81,467 SF 98% Leased Retail Building Jacksonville, FL 32254 $9,794,304 CAD ($120.22 CAD/SF) 7.50% Cap Rate

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Investment Highlights

  • 81,467 SF Grocery-Anchored Shopping Center in Jacksonville, FL
  • Rowe’s IGA Supermarket Enjoys a Very Strong Rent to Sales Ratio and Invested Approximately $3 Million into their Store Buildout in 2020
  • Adjacent and Connected to New Construction Wawa, Providing Additional Traffic Flow
  • 97% Occupied - Offered at $7.2 Million, a 7.5% Cap Rate and Just $88 Per Square Foot
  • Half of the Tenants have Successfully Operated at the Center for More than 10 Years and Exercised Renewal Options
  • Located at the Signalized Corner of Edgewood Ave North and Commonwealth Ave

Executive Summary

81,467 SF Grocery-Anchored Shopping Center in Jacksonville, FL

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
81,467 SF
Building Class
B
Year Built/Renovated
1984/2000
Price
$9,794,304 CAD
Price Per SF
$120.22 CAD
Cap Rate
7.50%
NOI
$734,573 CAD
Percent Leased
98%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.17
Lot Size
11.00 AC
Opportunity Zone
Yes
Zoning
CCG-1 - Neighborhood Commercial
Parking
562 Spaces (6.9 Spaces per 1,000 SF Leased)
Frontage
691’ on Edgewood Ave N

Amenities

  • Pylon Sign
  • Signalized Intersection

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • A Natural Nail
  • Services
  • -
  • $25.23 CAD
  • Triple Net
  • Nov 2025
  • Finance and Insurance
  • -
  • -
  • Triple Net
  • -

At Advance America, they understand that setbacks happen. Their mission is to help individuals turn those setbacks into epic comebacks. No matter where someone is on their financial journey, Advance America provides personal loan solutions that open doors to new possibilities. Here, clients are more than just a loan; they are the next success story. Since 1997, Advance America has assisted millions of hardworking people with a variety of financial solutions, including payday loans, online loans, installment loans, title loans, and personal lines of credit. With convenient locations nationwide and 24/7 online loan services, they meet customers where they are, rather than the other way around. As a proud community lender, Advance America serves thousands of individuals both locally and online, offering a range of personalized financial solutions tailored to specific needs.

  • Retailer
  • -
  • -
  • Triple Net
  • -

Dollar Tree, Inc. is a major North American discount retailer headquartered in Chesapeake, Virginia. The company operates a large network of small-format stores across the United States and Canada, offering low-priced consumables, household goods, seasonal merchandise, health and beauty products, and snacks. Dollar Tree is widely recognized for its fixed-price strategy, selling most products at a set low price point through its Dollar Tree banner, while its Family Dollar banner offers everyday low-cost merchandise across variable price ranges. Corporate operations at the Chesapeake headquarters oversee merchandising, supply chain, marketing, finance, human resources, and real estate activities supporting thousands of stores nationwide. Dollar Tree emphasizes convenience, value, and efficient distribution, with additional support from multiple distribution centers throughout North America.

  • Edgewater Coin Laundry
  • Services
  • -
  • -
  • -
  • -
  • Retailer
  • -
  • -
  • Triple Net
  • -

Hibbett, headquartered in Birmingham, Alabama, is a leading athletic-inspired fashion retailer with many Hibbett, City Gear and Sports Additions specialty stores located in states nationwide. Hibbett has a rich history of serving customers for years with convenient locations, superior personalized customer service and access to coveted footwear, apparel and accessories from top brands like Nike, Jordan, and adidas. Consumers can browse styles, find new releases, shop looks and make purchases through their best-in-class omni-channel platform.

  • Professional, Scientific, and Technical Services
  • -
  • -
  • -
  • -

Jackson Hewitt Tax Service is one of the largest in-person tax preparation companies in the United States, providing assisted individual income tax services to millions of customers each year. Founded in 1982, the company specializes in federal and state tax return preparation, electronic filing, amended returns, extensions, and tax-related support services for individual filers. Jackson Hewitt operates through a franchise-based model, with a nationwide network.

  • Accommodation and Food Services
  • -
  • -
  • -
  • -

Founded in 1958 in Wichita, Kansas by brothers Dan and Frank Carney, Pizza Hut operates as a global pizza restaurant brand offering pan pizza, thin crust varieties, wings, pasta, and related menu items. The brand began franchising in 1959 and introduced its recognizable red-roof restaurant design in the 1960s. Pizza Hut expanded nationally and internationally through a predominantly franchised model, becoming one of the most recognizable names in the pizza restaurant category. Over time, Pizza Hut has shifted its operational focus toward delivery and carryout formats alongside traditional dine-in locations. The brand has also introduced menu and digital ordering updates as part of broader operational adjustments within a highly competitive restaurant sector. Pizza Hut is privately operated as a brand within its publicly traded parent company, Yum! Brands.

  • Rental and Leasing Services
  • -
  • -
  • -
  • -

Rent-A-Center is a national rent-to-own retail chain offering furniture, home appliances, consumer electronics, and computers through flexible rental-purchase agreements. Founded in 1973 and incorporated in 1986, the company operates thousands of locations across the United States, Puerto Rico, and Mexico. Rent-A-Center serves consumers seeking access to durable household goods without traditional credit requirements, offering short-term rental flexibility with ownership options. Stores are typically located in neighborhood retail centers and along major arterial corridors, serving value-oriented and workforce-housing markets. The company is a subsidiary of Upbound Group, Inc., a publicly traded organization listed on NASDAQ. Rent-A-Center’s operating model combines in-store retail sales, logistics and delivery operations, and local service teams. In metropolitan areas such as Atlanta, the brand maintains numerous store locations to support dense, neighborhood-based customer demand.

  • Retailer
  • -
  • -
  • -
  • -

IGA, originally known as the Independent Grocers Alliance, was founded in 1926 and operates as a network of independently owned grocery stores under a common brand. The organization provides its members with marketing support, private-label products, and operational resources to help them compete with larger chains while maintaining local ownership. IGA’s model emphasizes community-based retailing, allowing store owners to tailor offerings to local preferences while benefiting from shared branding and supply chain efficiencies. The company also offers training programs, digital marketing tools, and merchandising strategies to enhance store performance. With a presence in multiple countries, IGA supports thousands of locations worldwide, making it one of the most recognized names in independent grocery retailing. The company is privately held.

  • Top China
  • Accommodation and Food Services
  • -
  • $40.17 CAD
  • Triple Net
  • -
Tenant Industry SF Occupied Rent/SF Lease Type Lease End
A Natural Nail Services - $25.23 CAD Triple Net Nov 2025
Finance and Insurance - - Triple Net -
Retailer - - Triple Net -
Edgewater Coin Laundry Services - - - -
Retailer - - Triple Net -
Professional, Scientific, and Technical Services - - - -
Accommodation and Food Services - - - -
Rental and Leasing Services - - - -
Retailer - - - -
Top China Accommodation and Food Services - $40.17 CAD Triple Net -

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 048886-0200
  • 048980-0060
Land Assessment
$4,272,227 CAD
Improvements Assessment
$4,423,741 CAD
Total Assessment
$8,695,968 CAD
  • Listing ID: 38570362

  • Date on Market: 2025-11-25

  • Last Updated:

  • Address: 1012-1020 Edgewood Ave N, Jacksonville, FL 32254

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