Address: 13070 City Station Dr., Jacksonville, Florida, United States 32218
Cap Rate: 7.50%
Lease Type: Triple-Net (NNN)
Annual Rent: $276,662
Net Operating Income: $276,662
Lease Term Remaining: 10+ Years
Rental Increases: Five Percent (5%) Every Five (5) Years
Options: Two (2), Five (5) Year Options
Year Built: 2008
Rentable Sq/Ft: 6,434 SF
Rent Sq/Ft: $43
Price Sq/Ft: $573
Lot Size: +/- 1.29 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Boston’s Restaurant and Sports Bar located at 13070 City Station Dr., Jacksonville, FL 32218. The site is being remodeled with significant tenant investment, and sits on approximately 1.29 acres.
Boston’s Pizza is subject to a brand new, 10-year Triple-Net (NNN) lease. The annual rent is $276,662. There are Two (2), Five (5) year tenant renewal options bringing the total term to 20 years.
The subject investment property is situated off of I-95, which brings on average 77,233 vehicles per day to the immediate area. This Boston’s Pizza benefits from its close proximity to Jacksonville International Airport, which serviced 6,460,253 passengers in 2018. There are 27,627 individuals residing within a three-mile radius of the property and more than 65,160 individuals within a five-mile radius of the property.
The subject property benefits from being well-positioned in an extremely dense retail corridor with major national tenants including: Lowe’s, Wal*Mart, Cracker Barrel, McDonald’s, Chick-Fil-A, Hardee’s, Panera Bread, Chili’s, Red Lobster, Best Buy, Olive Garden, Taco Bell, Dunkin Donuts, Logan’s Roadhouse, Tropical Smoothie, Buffalo Wild Wings and many more. The property also benefits from its close proximity to major national hotels including: Crown Plaza, Days Inn, Comfort Inn, Marriott, Hilton, Holiday Inn, Hyatt, and many more.
In 2018, Amazon opened a brand new 855,000 SF fulfillment center next to Jacksonville International Airport. The new facility supports more than 2,000 full-time employees. The subject property is located 4 miles from this new facility.
The Jacksonville metro is located in the northeastern corner of Florida just south of the Georgia border. It comprises five counties: Duval, Clay, St. Johns, Nassau and Baker, with the Atlantic Ocean providing its eastern border. Jacksonville’s access to road, rail, sea and air transportation has made it an intermodal hub for the Southeast. JAXPORT is one of the largest ports in the region and is equipped to handle cargo as well as cruise ships and the local ferry service. Naval Air Station Jacksonville and Mayport Naval Station contribute to a strong military presence in the market. The metro houses 1.5 million people. With approximately 896,000 residents, Jacksonville is the largest city in the metro. No other city in the market contains more than 40,000 citizens.
Broker of Record: Ryan Nee License #BK3154667