Jacksonville, Florida, January 3, 2026
A former Walgreens retail location in Jacksonville, Florida, has been sold for $1.7 million. The 13,905-square-foot building, situated in the Lincoln Villas neighborhood, presents new opportunities for local investors. With favorable demographics and high traffic flow, the site could be ripe for innovative commercial ventures.
Jacksonville, Florida
Former Walgreens Property on Soutel Drive Sold for $1.7 Million
Jacksonville, Florida – A former Walgreens location at 5340 Soutel Drive has been sold for $1.7 million. The 13,905-square-foot retail building, constructed in 1998, is situated on a 1.83-acre lot at the corner of Soutel Drive and Moncrief Road. The property was recently equipped with a new roof in 2021. The sale price reflects a capitalization rate of approximately 6.2%.
Located in the Lincoln Villas neighborhood of Jacksonville, this property is more than just a retail space; it represents a growing opportunity for local entrepreneurs and investors. With a residential population of approximately 8,430 within a one-mile radius and an average household income around $56,038, the area presents a lucrative market for various commercial applications. Furthermore, the site enjoys significant visibility and traffic flow, with over 28,000 vehicles passing daily at the intersection of Soutel Drive and Moncrief Road.
This sale is indicative of a broader trend in Jacksonville, where former Walgreens locations are being creatively repurposed. Taking note of a notable example, a former Walgreens property at 6560 Ulmerton Road sold for $2.88 million and is currently vacant, indicating that these spaces are ripe for innovation and new business ventures. As local entrepreneurs continue to show resilience and adaptability, the sale of the Soutel Drive property promises to encourage further investment and new opportunities for growth.
Market Analysis
The Lincoln Villas neighborhood, known for its residential character, is strategically placed for commercial endeavors due to its proximity to major roads. This advantageous location, along with favorable demographic trends, renders it attractive for potential investors and businesses looking for a base to cater to the community’s needs.
Traffic Visibility
One of the significant benefits of this property is its location at a busy intersection. With over 28,000 vehicles passing daily, this high traffic volume translates into effective visibility for any future business that occupies the site. Such metrics are pivotal for retail success, making it an appealing prospect for potential buyers.
Future Opportunities
With the local economy continuing to encourage entrepreneurial growth, properties like the former Walgreens on Soutel Drive highlight the potential that exists for innovative businesses seeking space in established neighborhoods. Lower regulatory barriers often present more opportunities for small businesses to flourish and develop, reinforcing Jacksonville’s reputation as a fertile ground for investment.
Conclusion
The sale of the former Walgreens property on Soutel Drive is a clear marker of Jacksonville’s evolving business landscape. As new entrepreneurs and investors step forward, opportunities continue to burgeon, promising growth and revitalization for the local economy. To support this surge of development, it is critical for residents and stakeholders to engage with local businesses, fostering an environment where innovation thrives. Together, as a community, Jacksonville can look forward to a brighter economic future.
Frequently Asked Questions (FAQ)
What is the sale price of the former Walgreens property on Soutel Drive?
The property was sold for $1.7 million.
What is the size and location of the property?
The property is a 13,905-square-foot retail building located at 5340 Soutel Drive in Jacksonville, Florida.
What is the capitalization rate for this sale?
The sale price reflects a capitalization rate of approximately 6.2%.
What is the neighborhood like?
The property is located in the Lincoln Villas neighborhood, a residential area with a population of approximately 8,430 people within a one-mile radius. The average household income in the area is around $56,038.
What is the traffic like in the area?
The site benefits from strong visibility and traffic counts, with over 28,000 vehicles passing daily at the intersection of Soutel Drive and Moncrief Road.
Key Features of the Property
| Feature | Details |
|---|---|
| Sale Price | $1.7 million |
| Building Size | 13,905 square feet |
| Lot Size | 1.83 acres |
| Year Built | 1998 |
| Recent Renovations | New roof installed in 2021 |
| Capitalization Rate | Approximately 6.2% |
| Neighborhood | Lincoln Villas, Jacksonville, Florida |
| Population within 1 Mile | Approximately 8,430 people |
| Average Household Income within 1 Mile | Around $56,038 |
| Daily Traffic Count at Intersection | Over 28,000 vehicles |
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Author: STAFF HERE JACKSONVILLE WRITER
The JACKSONVILLE STAFF WRITER represents the experienced team at HEREJacksonville.com, your go-to source for actionable local news and information in Jacksonville, Duval County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Jacksonville Jazz Festival, Riverside Arts Market, and World of Nations Celebration. Our coverage extends to key organizations like the Jacksonville Chamber of Commerce and JAXUSA Partnership, plus leading businesses in logistics, healthcare, and entertainment that power the local economy such as CSX Corporation, Baptist Health, and VyStar Credit Union. As part of the broader HERE network, including HEREOrlando.com, HEREStPetersburg.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
