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Mark Manheimer Of NETSTREIT LP Acquires Jacksonville Grocery Properties From Robert A. Rowe For $17M

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SOLD
$17,000,000

Florida

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Retail
Sold 01/13/2026
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SOLD

Mark Manheimer Of NETSTREIT LP Acquires Jacksonville Grocery Properties From Robert A. Rowe For $17M

5435 Blanding Boulevard & 9866 Old Baymeadows Road

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Retail
Sold 01/13/2026
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Retail
Transaction Type:Sale

Two grocery properties located at 5435 Blanding Boulevard and 9866 Baymeadows Road in Jacksonville were sold for a combined price of $17 million. The property at 5435 Blanding Road comprises 147,232 square feet, which sold for $9.7 million, while the Baymeadows Road location sold for $7.3 million. Both properties are currently operating as Rowe’s IGA Supermarkets.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $17,000,000
  • Buyer: Mark Manheimer - NETSTREIT LP
  • Seller: Robert A. Rowe
  • Location: 5435 Blanding Boulevard & 9866 Baymeadows Road, Jacksonville
  • Square Footage: 147,232 at 5435 Blanding Boulevard
  • Second property's sale price: $7.3 million

Mark Manheimer represented NETSTREIT LP in this transaction, while Robert A. Rowe was the seller of the properties involved in the sale. The buyer's affiliate, NS Retail Holdings, acquired both properties from the seller.

Players

Mark Manheimer
NETSTREIT
Mark Manheimer
1 deal
BUYER

Details

SOLD
IMAGE: Mark Manheimer DATE: 01/13/2026 ADDRESS: 5435 Blanding Boulevard & 9866 Baymeadows Road MARKET: Jacksonville ASSET TYPE: Retail BUYER: Mark Manheimer - NETSTREIT LP SELLER: Robert A. Rowe SALE PRICE: $17,000,000 NOTE: Two Jacksonville grocery properties owned by Robert A. Rowe sold for a combined $17 million to NS Retail Holdings, affiliated with NETSTREIT LP.The deals included a 147,232-square-foot store at 5435 Blanding Road for $9.7 million and a Baymeadows Road location for $7.3 million, both currently operating as Rowe’s IGA Supermarkets.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$906,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$60,397.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,588.67
Annual Debt Service$967,064.08