Address: 8015 Merrill Rd, Jacksonville, Florida, United States 32277
Cap Rate: 6.10%
Lease Type: NNN
Annual Rent: $122,555
Net Operating Income: $122,555
Lease Term Remaining: 10 Years
Rental Increases: Varies
Year Built: 1995
Rentable Sq/Ft: 2,576 SF
Rent Sq/Ft: $47.58
Price Sq/Ft: $780
Lot Size: +/- 0.98
This Krystal property is located at 8015 Merrill Road in Jacksonville, Florida. Jacksonville is the most populous city in Florida and the largest city by area in the contiguous United States.
SURROUNDING RETAIL & POINTS OF INTEREST
The subject property is well-positioned within a dense residential and retail corridor and benefits from a robust surrounding population. This Krystal is an outparcel to the Walmart-anchored shopping center on the corner of Merrill Rd & Hartsfield Rd. Major national retailers in the surrounding area include: Arby’s, BP, Dollar General, Dollar Tree, Family Dollar, Jiffy Lube, KFC, Wendy’s, Little Caesars, McDonald’s, O’Reilly Auto Parts, Publix, Shell, Waffle House, Walgreens, Walmart and many more. Jacksonville University is located approximately two miles west of the property and has enrollment of over 4,000 students.
TRAFFIC COUNTS & DEMOGRAPHICS
The subject property has 70,244 individuals residing within a three-mile radius of the property and 158,226 within a five-mile radius. The property is on Merrill Road which experiences traffic counts that exceed 35,000 vehicles per day. The property also benefits from traffic from Interstate 295 which is less than a mile to the east of the property and feeds into Merrill Road directly. Interstate 295 brings approximately 42,500 vehicles per day through the immediate area.
Jacksonville is a seaport city, the most populous city in the state of Florida, and the most populous city in the southeastern United States. The city is the cultural, commercial and financial center of Northern Florida. A major military and civilian deep-water port, the city’s riverine location supports two United States Navy bases and the Port of Jacksonville, Florida’s third-largest seaport. The Port of Jacksonville is a leading port in the United States for automobile imports, as well as the leading transportation and distribution hub in the state. Jacksonville serves as headquarters for various banking, insurance, healthcare, logistics, and other institutions. The city is home to many prominent corporations and organizations, including the headquarters of four Fortune 500 companies: CSX Corporation, Fidelity National Financial, Fidelity National Information Services, and Southeastern Grocers. Three colleges and universities lie within the city’s limits: the University of North Florida, Jacksonville University, and Florida State College at Jacksonville. One professional sports team, the Jacksonville Jaguars of the National Football League, plays their home games in downtown Jacksonville.
Broker of Record: Ryan Nee License #BK3154667