Mark Manheimer Of NETSTREIT LP Acquires Jacksonville Grocery Properties From Robert A. Rowe For $17M
5435 Blanding Boulevard & 9866 Old Baymeadows Road
$17,000,000
Building Size
—
Asset Type
Retail
Closing
Jan 13, 2026
About this deal
AI
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.
On the Map
$17,000,000
Retail
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Players
Jacksonville Retail Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93