Asking Price: $1,150,000
Cap Rate: 6.90%
- Accessible site: Corner location along Dunn Avenue, one mile from Jacksonville Regional Shopping Center (anchored by JCPenney and Bealls Outlet). Nearby access from Dunn Avenue to Interstate 295 and major north-south route Interstate 95. Increased traffic with proximity to the University of Florida Health and Baptist Health facilities.
- Excellent location: Jacksonville continues to distinguish itself as one of the nation’s most dynamic and progressive cities with a growing population, a strong economy, diverse cultural and recreational opportunities, and abundant natural resources. The city is home to many prominent corporations and organizations, including the headquarters of four Fortune 500 companies. Additionally, Jacksonville is a rail, air, and highway focal point as well as a busy port of entry.
- Successful tenant with added upside potential: 7-Eleven is the No. 1 convenience store in the world and was recognized as No. 3 on Entrepreneur’s 2016 Top Global Franchises List. Remaining space available for lease within the center provides investor revenue upside upon stabilization. Buyer can achieve great upside potential at 100% occupancy with additional space leased out at 20% below market rent (based on estimated $16.00/SF).
- Quality investment: Incremental rent increases and minimal landlord responsibilities. No state income tax in Florida provides a low tax burden for the investor.
- Expansive trade area: Over 93,400 people with an average household income of nearly $51,000 live within 5 miles of the Property. With an estimated 868,031 residents as of 2015, Jacksonville is the most populous city in both Florida and the southeastern U.S.
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