ASKING PRICE: $1,345,160
CAP RATE: 5.9%
- ACCESSIBLE SITE — Corner location along Dunn Ave., 1 mile from Jacksonville Regional Shopping Center (anchored by JCPenney & Bealls Outlet). Nearby access from Dunn Ave. to I-295 & major north-south route, I-95. Increased traffic with proximity to University of Florida Health & Baptist Health facilities.
- EXCELLENT LOCATION — Jacksonville continues to distinguish itself as one of the nation’s most dynamic & progressive cities, with a growing population, a strong economy, diverse cultural & recreational opportunities & abundant natural resources. The city is home to many prominent corporations & organizations, including the HQ’s of 4 Fortune 500 companies. Additionally, Jacksonville is a rail, air & highway focal point & a busy port of entry.
- SUCCESSFUL TENANT WITH ADDED UPSIDE POTENTIAL — 7-Eleven is the #1 convenience store in the world & was recognized as No. 3 on Entrepreneur magazine’s 2016 Top Global Franchises List. Remaining space available for lease within the center provides investor revenue upside upon stabilization. Buyer can achieve a 7.9% return at 100% occupancy with additional space leased out at 20% below market rent (based on estimated $16.00/sf).
- QUALITY INVESTMENT — Incremental rent increases & minimal landlord responsibilities. No state income tax in FL provides a low tax burden for the investor.
- EXPANSIVE TRADE AREA — Over 93,400 people, with an average household income of nearly $51K, within 5 miles. With an estimated 868,031 residents as of 2015, Jacksonville is the most populous city in both FL & the southeastern U.S.
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