Jacksonville, FL 7-Eleven Strip

2203 Dunn Avenue
Lease Type NN
Cap Rate 9.14%
Property Type Retail
Building Size 5,000 SF
NOI $88,700.10
Land Area 1.09 AC
Remaining Term 5 Years
Status Closed
Property Highlights

Accessible site: The Property sits at a prime corner location along Dunn Avenue, one mile from Jacksonville Regional Shopping Center (anchored by JCPenney and Bealls Outlet). The Property has nearby access from Dunn Avenue to Interstate 295 and major north-south route Interstate 95. This area sees increased traffic counts due to its close 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, diverse cultural and recreational opportunities, abundant natural resources and a strong economy. 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 and 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 magazine’s 2016 Top Global Franchises List. Remaining space available for lease provides investor revenue upside upon stabilization. The buyer can achieve upside potential at 100 percent occupancy with additional space leased at 20 percent below market rent (based on an estimated $16/square foot).

Quality investment: This lease features incremental rent increases and minimal landlord responsibilities. There is no state income tax in Florida, which provides a low tax burden for potential investors.

Over 93,400 people with an average household income of nearly $51,000 live within five 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 United States.