Verizon Wireless-Corp.-St Johns Town Center 4948 Big Island Dr 4,049 SF Retail Building Jacksonville, FL 32246 $4,921,682 CAD ($1,215.53 CAD/SF) 6.40% Cap Rate

Marcus & Millichap is pleased to present the opportunity to acquire a net leased investment consisting of a corporate backed Verizon Wireless retail store with a privileged location. The property is located on Big Island Drive, a key thoroughfare of Jacksonville’s very successful St. John’s Town Center open air mall. The St John’s Town Center is the premier shopping destination in the region with over 175 shops and restaurants. This well-established Verizon store has operated at the St John’s Town Center since 2014. The twelve-year-old store has a Placer traffic ranking of 4th out of 17 stores within a 15-mile radius.
The subject property features a 4,049 SF building constructed in 2014. The site includes multiple access points, excellent visibility, ample parking via reciprocal easement agreement with adjacent retail center. The property enjoys high-visibility frontage along Big Island Drive (10,000+ VPD) within the outdoor shopping center. The property benefits from exceptional regional access via nearby Butler Blvd, which carries 120,000+ VPD.
The St John’s Town Center Verizon store benefits from strong traffic counts along major routes and synergistic co-tenancy with neighboring top retailers including the Apple Store, Lululemon, Tiffany & Co, Target, Costco, and Publix. The area has a population of 75,330 within a 3-mile radius and 190,642 within a 5-mile radius, with AHHIs of $99,073 and $97,573, respectively. Jacksonville is one of the fastest-growing metropolitan areas in the United States, and the immediate area is poised for significant growth due to massive planned and under-construction development projects featuring over 515,000 SF of retail/mixed-use space and a 15,000 SF soccer stadium.
Verizon Wireless—a leading wireless telecommunications provider and one of the largest carriers in the United States with 34% of total market share—is backed by a BBB+ credit rating (S&P) and a corporate guarantee from Cellco Partnership. The brand offers institutional-grade investment security. This site underscores the tenant’s strategic importance and long-term commitment to this high-traffic retail location.