Cushman & Wakefield is pleased to present the exclusive listing of The Harper at Trout River, 76 newly constructed (2023) Class “A" build-to-rent townhomes located in Jacksonville, FL, one of the fastest growing cities in the nation (U.S. Census Bureau, 2024). Currently 91% occupied and 93.4% preleased, The Harper at Trout River is one of the initial opportunities to acquire a stabilized build-to-rent community in the Jacksonville MSA. The property features high-quality construction with spacious 3- and 4- bedroom floor plans averaging 1,527 SF. Offered at a compelling basis significantly below retail SFR and TH comparables over $240K, The Harper at Trout River provides an exceptional opportunity for investors to acquire a stabilized, institutional-quality asset with upside potential.
There are also an additional 84 pad-ready lots, immediately adjacent to the existing townhomes that are available separately, providing for additional scale and development upside to control 88% of the subdivision or 160 units total.
The Jacksonville MSA has a population over 1.8 million and is projected to add another 70,000 in the next five years and 500,000 residents in the next 25 years. The metro has a dynamic and diverse economy comprised of logistics, aviation, financial services, military, healthcare and high-tech jobs with 130,000 jobs within a 30-minute commute of the subject property and over $10B in new development in the downtown CBD alone.
...