Population
974,000
Growth (5Y)
+13.7%
Median Income
$62,000
Metro GDP
$99B
Market Overview
Jacksonville is Florida's largest city and a rising NNN investment market driven by Florida's perpetual population in-migration tailwinds. The city's massive land area, affordable property prices, and favorable cap rates (5.5–7.0%) make it one of the best value NNN markets in the Southeast. Mayo Clinic's massive East Coast campus, CSX's transportation hub, and significant military presence create a recession-resistant employment base. Wawa convenience stores — among the highest-volume NNN assets in the country — have a particularly strong presence.
Key Highlights
Florida zero income tax drives consistent retiree and working-age in-migration
Largest city by land area in the contiguous US offers abundant NNN development land
Mayo Clinic's largest East Coast campus anchors a major medical district
One of the largest military presence concentrations in the US (Naval Air Station, Mayport)
Why Invest in Jacksonville
- 1Florida zero income tax drives among the highest net in-migration rates of any city
- 2Highest cap rates among major Florida metros — strong initial yield with growth upside
- 3Massive land area means no development constraints for new NNN ground-up projects
- 4Military presence (NAS Jacksonville, Mayport) provides recession-proof employment anchor
Recent NNN Activity
"Jacksonville NNN market recorded $250M in transactions in 2024. The St. Johns County and Clay County suburban corridors drove the most new NNN development. Wawa and Dollar General assets dominated transaction activity."
NNN Snapshot
Cap Rate Range
5.5% - 7%
Price Range
$1.1M - $3.6M
Avg Lease Term
12 Years
Unemployment Rate
3.4%
Active NNN Tenants
WawaMcDonald'sDollar GeneralCVSAutoZoneWalgreensStarbucks
Major Employers
Mayo ClinicFidelity National FinancialCSX TransportationEverbankBaptist HealthCrowley Maritime
Find NNN Properties in Jacksonville
Our advisors have exclusive, off-market NNN inventory in the Jacksonville market right now. Contact us to see what's available before it hits the public market.