Market update: Exploring San Marco
In the bustling landscape of Jacksonville's retail real estate scene, one neighborhood stands out as a unique blend of history, charm and modern vibrancy - San Marco. Nestled just a stone's throw away from Downtown Jacksonville, this quaint urban-core borough is a gem that offers a distinctive atmosphere and a lifestyle that's hard to resist. Let's take a closer look at the captivating tapestry that is San Marco and the exciting developments taking place within its cobblestone streets.
A Glimpse into San Marco's Past and Present
San Marco boasts a captivating history that dates back to 1925 when it embarked on a journey to become the city's most ambitious development. Spanning over 80 acres, this established neighborhood was crafted from the former Villa Alexandria estate, infusing the area with a sense of elegance and sophistication. The iconic “Three Lions” fountain, located in the heart of historic San Marco Square and reminiscent of Venice's business district in Italy, serves as a testament to the neighborhood's unique identity.
Charming Streets and Unmatched Pedestrian Convenience
As you walk along the charming streets of San Marco, you'll be transported to a world of indie boutiques, chic chef-driven eateries, galleries and trendy bars. The area's pedestrian-friendly design makes it a pleasure to explore on foot. And for those who wish to venture further afield, the Beach Buggy offers free rides and invaluable recommendations, making every visit to the San Marco community a delightful experience.
A Thriving Retail and Culinary Scene
San Marco isn't just a feast for the eyes; it's a culinary and retail haven that caters to diverse tastes. From the convenient offerings of the newly-opened Publix Supermarket and the delectable treats at Crumbl Cookie, to the invigorating workouts at Orange Theory Fitness and Pure Barre, the choices are endless. Newcomers Flying Iguana and Anejo Cucina promise a journey through authentic Mexican and Latin flavors, while Bitty & Beau captures hearts with its charm and coffee. The Posting House, Grape & Grain Exchange, Foliahom, Dreamette, and Rose Darling Salon add to the array of experiences, and V’s Pizza and Cline's Meat Market's expansions signal a community that's on the rise. Fig & Willow, Krista Eberle, Lilly Grace, The Write Touch, Missy Riley and Beau Outfitters are just a few eclectic boutiques that provide for the best retail therapy sessions!
The Resilient Residential Market
In San Marco's residential market, it's not just houses that stand, it's the promise of a cherished lifestyle. According to Realtor.com, median listing prices hovered around $693,000 in July 2023, with a median listing home price per square foot of $383. With homes typically spending about 40 days on the market before they find their new owners, the demand is evident and reflects the neighborhood’s allure. From newly constructed townhomes by Toll Brothers near East San Marco, to charming bungalows, desirable ranches and historic mansions in the heart of San Marco and Miramar, the architectural offerings are endless!
A Flourishing Multifamily Landscape
Multifamily growth is flourishing in San Marco, with over 1500+ units delivered and under construction and another 1,000+ in the pipeline. Continued interest stems from local and outside developers and investors looking for return on investment in an in-fill location within Jacksonville’s thriving multifamily environment. This surge in development not only reflects the area's desirability but also ensures that individuals seeking a more communal living experience have plenty of choices. With the future Emerald Trail underway and the recent completion of the Fuller Warren Bridge shared use path, now linking San Marco to Riverside, walkers and cyclists are able to enjoy community connectivity.
Embrace the Essence of San Marco
San Marco is more than just a neighborhood. It is an embodiment of a lifestyle that merges the charm of history with the excitement of modernity. With its rich history, diverse offerings, and strategic location close to Downtown Jacksonville and major highways, it's no surprise that San Marco has become a hotspot for both investors and individuals seeking a unique place to call home. As the multifamily and retail landscape continue to evolve, the allure of San Marco only grows stronger, attracting local companies like The Vestcor Companies and G4 Design to move their headquarters to the area, cementing its status as one of Jacksonville's most captivating districts.
All Images via She Exposure