For sale

$1,000,000

5000 SQF 70 % Occupancy 8 % Cap Rate
EASILY ACCESSIBLE SITE The Property is situated at a corner location along Dunn Avenue, just one mile from the Jacksonville Regional Shopping Center (anchored by JCPenney and Bealls Outlet). The site has nearby access from Dunn Avenue to Interstate 295 and the major north-south route of Interstate 95. The Property sees increased traffic thanks to its proximity to the University of Florida Health and Baptist Health facilities.

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 magazine’s 2016 “Top Global Franchises” list. The remaining space available for lease provides investor revenue upside upon stabilization. The buyer can achieve upside potential at 100 percent occupancy with the additional space leased at 20 percent below market rent (based on an estimated $16/SF).

QUALITY INVESTMENT This lease features incremental rent increases and minimal landlord responsibilities. No state income tax in Florida provides a low tax burden for the investor.

 

Key Considerations

  • • This asset produces instant cashflow
  • • Very little management – NN Lease with very favorable cost reimbursement
  • • After renting the 2 – 1,000 sqft spaces below market value ($19K a year for both) the CAP % increases to 11%
  • • Great CAP Great Cash-on-Cash Great IRR
  • • C neighborhood – “not the best area”
  • • Most probable tenants for the vacancies would be laundry mat/dry cleaner, nail salon/ maybe even liquor store
  • • 711 has been here for 6 years already
  • • Sale include gas station
  • • 711 has a corporate gaurentee but does not show financial
  • • They received an offer 2-12-18 but considering more serious buyers
  • • Taxes should stay the same SELLER paid 755K in 2012
  • • Built in 2000
    • • Price just reduced $50K o 711 lease expires SEPT 2022
    • o Roof condition is unknown
    • o Financing may not be the best because of vacancies
    • o Tenant Responsible: ▪ AC/ Everything Inside/ Insurance and Real Estate Taxes
    • o Owner Responsible: ▪ Roof/ Structure/ Parking Lot

Risks Considered

o 711 lease expires SEPT 2022
o Roof condition is unknown
o Financing may not be the best because of vacancies
o Tenant Responsible:
▪ AC/ Everything Inside/ Insurance and Real Estate Taxes
o Owner Responsible:
▪ Roof/ Structure/ Parking Lot

Additional Details

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