Colliers, as exclusive agent, is pleased to present River Road located in Jacksonville, FL. This 53-unit property consists of three solid concrete block buildings and sits on 1.25 acres on the banks of the St. Johns River and represents a rare opportunity to acquire a waterfront asset in the exclusive, highly walkable, San Marco neighborhood of Jacksonville. This well-maintained property is stabilized with below market rents and offers investors the opportunity to capture over $700 in rental upside based on comparable properties and drive revenue through implementing various management efficiencies with the ability to increase the takeover NOI by over 200% in the first two years of ownership.
Residents are drawn to the location as San Marco is widely regarded as Jacksonville’s most desirable neighborhood, known for its Mediterranean architecture, canopy lined street, 14 city parks, local boutiques and abundance of dining and entertainment options. In addition to the sweeping views of the St. Johns River, residents also enjoy the close proximity to the area’s top white-collar employment centers, only minutes to multiple Fortune 500 Company Headquarters, Jacksonville’s Medical Hub anchored by Baptist Health, and Downtown Jacksonville. This unrivaled quality of life attracts an affluent resident base, as the average household income is $107,000 within a 1-mile radius.
+1 904 521 6959
Casey Babb, CCIM
Executive Managing Director
+1 813 217 0321
+1 727 916 7877
THIS CONFIDENTIALITY AGREEMENT (“Agreement”) is made and agreed to by Colliers Florida Multifamily (“Broker”), exclusive listing broker for the Property, and the undersigned Purchaser (“Purchaser”) regarding the Property herein (“Property”). The obligation of confidentiality undertaken pursuant to this Agreement shall survive the terms of the Broker’s listing agreement with the Owner(s). PURCHASER HAS REQUESTED information from Broker for the purpose of evaluating a possible acquisition of the Property. The Owner of the Property has instructed Broker to deliver information concerning the Property, much of which is highly confidential, only to those potential purchasers who sign this Agreement. THE PARTIES AGREE, in consideration of the covenants and agreements contained herein, as follows: 1. Purchaser will not disclose, permit the disclosure of, release, disseminate or transfer; any information obtained hereunder (“Information”) to any other person or entity. 2. If Purchaser is a corporation, partnership, limited liability company or other non-natural legal entity, the person(s) signing this Agreement on its behalf will take all appropriate precautions to limit the dissemination of the Information only to those persons within the entity who have need to know of the information, and who are specifically aware of the Agreement and agree to honor it. 3. This Agreement applies to all Information received from Broker, now or in the future, which is not readily available to the general public. Purchaser understands that all information shall be deemed confidential, valuable and proprietary such that its unauthorized disclosure, even without intent to harm, could cause substantial and irreparable harm to Owner and Broker. 4. All information shall be used for the sole purpose of evaluating the potential acquisition of the Property, and it shall not at any time, or in any manner, be used for any other purpose. 5. Purchaser shall not contact directly any persons concerning the Property, other than Broker, without Broker’s or Owner’s written permission. Such persons include, without limitation, Owner’s employees, suppliers and tenants. 6. Purchaser acknowledges that it is a principal and not an agent on behalf of any other party in conjunction with the purchase of the Property (except Advisors working on behalf of their pension fund clients). Purchaser acknowledges that it is not working with any other broker or agent other than The Babb Group in connection with this transaction. 7. Neither Broker nor Owner makes any representations or warranty, express or implied, as to the accuracy or completeness of any information provided by them. Purchaser assumes full and complete responsibility for reconfirmation and verification of all Information received and expressly waives all rights of recourse against Owner and Broker with respect to the same. 8. The Persons signing on behalf of Purchaser and Broker represent that they have the authority to bind the party for whom they sign. 9. This Agreement shall be governed and construed in accordance with the laws of the State of Florida. 10. No outside broker represents Purchaser. Purchaser is working with Colliers Florida Multifamily, specifically The Babb Group. Furthermore, Purchaser indemnifies Broker and owner against any commission claims by brokers on this listing or any listing by the Babb Group for the six months following the date of this agreement.