Amelia Marketplace

474331 State Road 200, Fernandina Beach, FL

$5,925,000

Price

27,909 sqft

Building Size

9,250 acres

Lot Area

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Street
Map
Overview
Building Size
27,909 sqft
Lot Area
9,250 acres
Occupancy
100%
Year Built
2005
Description

NAI Hallmark, as exclusive advisor, is privileged to present the opportunity to acquire Amelia Marketplace located at 474331 State Road 200, Fernandina Beach, Florida (the “Property”). The Property consists of a fully leased multi-tenanted retail center totaling 27,909 square feet as well as a ground lease to Elliano’s Coffee.
The property provides a rare opportunity to purchase a well-located, stabilized retail center with a strong, diversified rent roll in the quickly growing Nassau County and the potential to increase rents to market rate over time.

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Highlights
  • STABLE CASHFLOW WITH UPSIDE: The property has a strong rent roll with a diversified tenant mix. The property is currently fully occupied, but with several tenants paying below market rents, there is room for upside by increasing those tenants to market rate rents.
  • IDEAL LOCATION ON MAJOR THOROUGHFARE: The property is strategically located on State Road 200, the main east-west thoroughfare in Nassau County. The road connects the inland part of the county to Amelia Island, popular amongst tourists and a desirable beach community. The Property is well positioned at the main entrance to Amelia Island with State Road 200 seeing traffic counts of 49,000 AADT.
  • STRONG SUBMARKET GROWTH: Nassau County is currently going through a period of exponential growth with the development of the master planned community, Wildlight, underway. Wildlight will offer 24,000 homes and is located just 7 miles West of the Property on State Road 200. Nassau County is also home to Amelia Island which has grown in popularity over the past several years both for tourists and residents in the beach community.
  • ROBUST RETAIL RENT GROWTH: The Jacksonville MSA has experienced tremendous rent growth, specifically for retail properties, over the past several years. According to Costar data, Jacksonville led the country in 2023 in retail rent growth at 11.9%. The Property, with some tenants paying below market rents, and rapid rent growth, is positioned well to add value in the coming years.
Location
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