FoxRidge Office Center

Description:

This offering consists of three tax parcels: Building A is 3,498 SF, Building B is 8,084 SF, and there is an additional parking parcel between them all totalling 1.83 acres.This property has never been professionally leased or managed and the owner has relied only on a small "For Lease" sign on Blanding Blvd to generate leases. The building is approximately 70% occupied by a variety of tenants that have historically been renewing their one year lease terms. This creates the opportunity to re-tenant and or convert these gross leases to standard market leases. Converting Gross Leases to NNN, from useable square feet to rentable square feet and with longer lease terms. The property is situated at the corner of a four way lighted intersection on Blanding Boulevard. It has a road side pylon sign and a monument sign. The property is zoned BA which permits all commercial uses that benefit the neighborhood except for industrial. 61,700 vehicles pass this location each day. 


The property is located in the thriving Orange Park / Clay County Submarket of the Jacksonville Fllorida MSA.  Vacancy in this three star office submarket as of 8-8-24 is approximately 6,2%.   YTD rents are $24.74 $/SF,  Over the past three years rents have increased a cumulative 17.4%.


Property contains a multi- tenant building and a free standing building on an excellent retail corner with a traffic light on the four way intersection of Blanding Bouldveard and Foxridge Road. There is a pylon sign and a monument sign in front of the property on Blanding Boulevard.