7-Eleven | NN | Jacksonville, FL

Sold Price: $970,000
Cap Rate: 8.18%
Lease Type: NN
Quality Investment Opportunity
The lease features incremental rent increases and minimal landlord responsibilities. No state income tax in Florida provides a low tax burden for the investor. Remaining space available for lease within the center provides investor revenue upside upon stabilization. The Buyer can achieve a 7.9 percent return at 100 percent occupancy with additional space leased out at 20 percent below market rent (based on an estimated $16/square foot).
Successful, Recognized Tenant
7-Eleven is the No. 1 convenience store in the world and was recently recognized as No. 3 on the Entrepreneur Magazine 2016 “Top Global Franchises” list.
Accessible Site
The Property is situated at a corner location along Dunn Avenue approximately one (1) mile from the Jacksonville Regional Shopping Center (anchored by JCPenny and Bealls Outlet) with nearby access to Interstate 295 and major north-south route Interstate 95. The Property has increased traffic due to its 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 (4) Fortune 500 companies. Additionally, Jacksonville is a rail, air, and highway focal point, as well as a busy point of entry.
Expansive Trade Area
More than 93,400 people with an average household income of nearly $51,000 live within five (5) miles of the Property. With more than 868,000 residents as of 2015, Jacksonville is the most populous city in both Florida and the southeastern U.S.
Zip Code:32218
Square Feet:5,000
Lot Square Feet:47,480
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