1173 Pecan Park Road, Jacksonville, FL, 32218, US

Seaton Preserve

形容

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present Seaton Preserve (the “Property”), a 2023-built, 240-unit community located in the rapidly-growing North Jacksonville/Airport submarket on Pecan Park Road. Seaton Preserve is a best-in class luxury asset within the growing North Jacksonville submarket. The Property offers easy access to shopping and dining while being located on Pecan Park Road. Units at Seaton Preserve range from 756 to 1,248 Square Feet (SF) and are among the most highly-amenitized in the submarket.

Apartments offer granite countertops in kitchens and bathrooms, vinyl plank flooring in all common areas, stainless steel appliances, remote-operated ceiling fans, designer blinds, undermount sinks and large in-unit laundry rooms with full-size washers and dryers and storage space. Community amenities set the bar in the submarket and include a resort-style zero entry pool, a fitness center with studio space and spin bikes, a clubhouse with game area, communal kitchen and lounge spaces, coworking spaces, outdoor kitchen with grill and sprawling dog park.

Seaton Preserve’s strategic location in North Jacksonville offers proximity to several major employers in a variety of sectors. The North Jacksonville submarket is anchored by Jacksonville International Airport and JAXPORT’s Blount Island Terminal, two major area employers that contribute billions to the local economy and cemented the area as Jacksonville’s main logistics and e-commerce hub. Additionally, UF Health North is located just 10 minutes south of the Property and is currently undergoing an expansion to more than double its current capacity. Adjacent to UF Health North is the recently opened North Jacksonville VA Hospital that includes a 173,000 SF outpatient clinic and an overnight facility. The North Jacksonville submarket also features the 116-bed River City Rehabilitation Center. Located just 7 minutes from Seaton Preserve is the 1 million square foot River City Marketplace, one of the three, regionally dominant open-air lifestyle centers within the Jacksonville MSA. Seaton Preserve is also a mere 20-minute commute to Downtown Jacksonville and its ±60,000 jobs.

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特性

ユニット数

240

竣工年

2023

投資戦略

コアプラス

稼働率

94%

賃貸可能面積

22,854 ㎡

メディア

投資のハイライト

LIVE LOCAL TAX BENEFIT - ESTIMATED 6% BOOST TO NOI

Seaton Preserve secured full approval for the Live Local Tax Benefit after submitting 73 units to the state in 2025, resulting in a $7.89M exemption (20% reduction in assessed value) and over $140,000 in tax savings at the 2024 millage rate. This provides Year 1 tax savings of $166,781, boosting Year 1 NOI by 6% and creating significant value for investors.

CONSISTENT RENTS DURING LEASE-UP DESPITE HIGH LEVELS OF UNIT DELIVERIES

Despite Jacksonville's market-wide rent decreases in 2024 caused by record new supply that forced many properties to compete with lower rents, Seaton Preserve's rents have remained remarkably consistent. The Recent 5 rents continue to increase, indicating renewed rent growth potential that should strengthen in coming years as excess supply is absorbed.

HIGH RENT GROWTH MARKET AS DELIVERIES FALL

Jacksonville experienced peak construction deliveries in 2023-2024, but high interest rates and inflated costs have stalled new starts for the past 12-24 months. With completions projected to decline significantly by late 2025 and further in 2026, the North Jacksonville submarket is expected to achieve over 3.50% rent growth by 2026, positioning Seaton Preserve to capitalize on these improving market fundamentals.

ATTRACTIVE FRONT DOOR/PHYSICAL SETTING

Seaton Preserve enjoys exceptional visibility along Interstate 95 in the rapidly growing North Jacksonville submarket, offering a distinctive setting surrounded by residential homes that provides more peaceful, established surroundings than competitors. Located less than 5 miles from the dominant Airport submarket, residents have convenient access to millions of square feet of employment opportunities, multiple medical providers, Jacksonville International Airport, and the regional River City Marketplace lifestyle center.

TOP-TIER NEARBY RETAIL AT RIVER CITY MARKETPLACE

Just a 7-minute drive from Seaton Preserve is one of Jacksonville MSA's three regionally-dominant open-air lifestyle centers, attracting over 7 million visitors annually. This 1 million SF River City Marketplace features major retailers including Walmart, Lowe's, BJ's Wholesale Club, Dick's Sporting Goods, Aldi, Hobby Lobby, Old Navy, Michaels and Bed Bath & Beyond, alongside popular dining options such as Texas Roadhouse, Olive Garden, Cracker Barrel, BJ's Restaurant and Brewhouse, Chipotle, Outback, Mellow Mushroom, and Chick-fil-A.

PROXIMITY TO INTERNATIONAL AIRPORT

Just a 5-minute drive from Seaton Preserve, Jacksonville International Airport serves over 7 million passengers annually, generates $3.1 billion for the local economy, and supports 26,000 metro jobs. The airport is currently undergoing a $300 million expansion of Concourse B, scheduled for completion in 2026.

THE HEART OF NORTH JACKSONVILLE’S MEDICAL FOOTPRINT

Three medical facilities are within 10 minutes of Seaton Preserve: the brand-new North Jacksonville VA Hospital (173,000-SF outpatient clinic with 30-bed domiciliary), UF Health North (a full-service hospital recently expanded to 216 beds with a new six-story medical tower), and River City Nursing & Rehab Center (116-bed facility for long/short-term care). UF Health is further expanding its regional presence with a $90 million Emergency and Trauma Center at their Central Jacksonville campus just 15 minutes away, increasing emergency capacity from 78 to 125 rooms with 53 new beds.

NORTH JACKSONVILLE JOB EXPLOSION

North Jacksonville's industrial sector offers tremendous employment opportunities, with over 44 million square feet of space within 20 minutes of Seaton Preserve. Established parks like Jacksonville International Tradeport, Imeson Industrial Park (where Malnove is expanding to 362,000 SF), and Park 295 house major employers including Lowe's, Coach, Amazon, and Bacardi. New developments within 5 minutes include Flint Development's 3.1-million-SF Airport Commerce Center, Saxum's 3.8-million-SF industrial park, and Benderson's 2-million-SF warehouses targeting e-commerce giants. Additionally, German manufacturer HOLON is building a 500,000-SF autonomous vehicle plant creating 800+ jobs and generating $300 million for the local economy by 2028, while JAXPORT, Florida's largest container port handling 1.3 million containers annually and 400,000 vehicles in 2023, supports 138,000 jobs just 17 minutes away.