x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

x

AutoZone Ground Lease, Jacksonville, FL

AutoZone Ground Lease

Price $2,169,000
Cap Rate 4.75%
NOI $103,000
Lease Term 15 Years
Lease Type Corporate NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2018
Building Size 7,500 SF
Lot Size .71 Acres (30,928 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 15-YEAR NNN CORPORATE GROUND LEASE
» 15-year NNN corporate ground lease with 10% rental increases every five years, providing a hedge against inflation
» Tenant is responsible for taxes, insurance, and all maintenance, including roof, structure, and parking lot
» No landlord management, providing an ideal investment opportunity for an outof- area investor

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 41,500 vehicles per day on Beach Boulevard and 32,858vehicles per day on nearby Hodges Boulevard
» Located directly in front of a Target-anchored center
» Population is 170,580 residents within a five-mile radius
» Within five miles of nine major shopping centers (combined 3.7 million SF of retail space and 437 stores, including three Walmart and three Publix locations)
» Within one mile of several national retail brands, including Michaels, McDonald’s, Office Max, Starbucks, Chick-fil-A, Five Guys, Panera Bread, and more
» Also located on U.S. Route 90, a major east-west thoroughfare connecting Florida coasts and Downtown Jacksonville to coastal attractions

CENTRAL LOCATION NEAR LARGE SCHOOLS, EMPLOYERS AND ATTRACTIONS
» Minutes from the University of North Florida (15,900+ students, 452 employees, $1 billion annual economic impact) and Florida State College at Jacksonville (52,000+ students, $1.6 billion annual economic impact)
» Within a five-mile radius of Mayo Clinic (304 beds, 4,970 employees, $1.8 billion in total patient revenue) and Baptist Medical Center Beaches (135 beds, 718 employees, $632 million in total patient revenue)
» Near Jacksonville Golf & Country Club (featuring an 18-hole, par 72 course), Castaway Island Preserve, and Adventure Landing Jacksonville Beach ($2 million annual revenue)



Property Description

The property is conveniently located on Beach Boulevard, with excellent visibility and access to 41,500 vehicles per day directly in front of the property and 32,858 vehicles per day on adjacent Hodges Boulevard. The location also resides on U.S. Route 90, a major east-west thoroughfare connecting the Florida coasts and Downtown Jacksonville to Jacksonville Beach and other coastal attractions. The site benefits from its location directly in front of a Targetanchored plaza. Overall, the site is centralized in a dense retail corridor and is within five miles of nine major shopping centers with a combined 3.7 million SF of retail space and 437 stores, including anchor tenants The Home Depot, Ross, Bed Bath & Beyond, Hobby Lobby, Dillard’s, Nordstrom, and more. Visibility is also increased by the property’s placement at the confluence of three Walmart and three Publix locations. Other major tenants within one mile of the property include Michaels, McDonald’s, Office Max, Starbucks, Chick-fil-A, Five Guys, Panera Bread, and more.

The location benefits from its proximity to large schools, as it resides minutes from the University of North Florida (15,900+ students, 452 employees, and $1 billion annual economic impact) and Florida State College at Jacksonville (52,000+ students, $1.6 billion annual economic impact). The site is within a five-mile radius of Mayo Clinic (304 beds, 4,970 employees, $1.8 billion in total patient revenue) and Baptist Medical Center Beaches (135 beds, 718 employees, $632 million in total patient revenue). Additionally, the property is located minutes from Jacksonville Golf & Country Club (featuring an 18-hole, par 72 course), Castaway Island Preserve, and Adventure Landing Jacksonville Beach, which generates $2 million in annual revenue.

Contact Us About This Property

JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link