Applebee's - Jacksonville

5505 J Turner Butler Blvd Jacksonville , FL 32216-6094

Applebee's - Jacksonville - Retail for sale

Download Offering Memorandum

Overview


JLL is pleased to offer for sale the fee-simple interest in a NNN leased Applebees located in Jacksonville, FL. The property is a freestanding retail building that is tenanted by Doherty Florida JTB, LLC (d/b/a Applebees) on an NNN lease with 9.18 years of contractual lease term remaining. The Property is strategically positioned just off the exit ramp of Interstate 95 (140,000 vehicles per day) and in close proximity to Route 1. The Asset is surrounded by 17 hotels and serves as one of the few casual sit down dining restaurants in the local area. The Asset has great frontage and visibility along J Turner Butler Boulevard, which sees outstanding daily traffic counts of over 39,000 vehicles daily. The Asset benefits from a daytime population of 116,000 in a 3 mile radius, nearly double of the total residents in the area. The great location, absence of landlord obligations, and annual rental increases make this a great investment opportunity.

Investment Highlights


• The tenant has 9.18 years of lease term remaining
• The tenant is on a NNN lease with no landlord responsibilities
• Strong daytime population demographics
• The tenant is a franchisee with 150+ stores
• Well-positioned just off the exit of Interstate 95 that sees over 140,000 vehicles daily
• Well-positioned with frontage and visibility to J Turner Butler Boulevard which sees daily vehicle counts of over 39,000
• Asset is surrounded by 17 hotels and few casual sit down restaurants
General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 5505 J Turner Butler Blvd, Jacksonville, FL 32216-6094
Land In Acres 1.31
Building Size 4,453  ft2
Financial
Price $3,020,762
Cap Rate 8.00%
Current NOI $241,661.00
Lease
Tenant's Name DOHERTY ENTERPRISES, Incorporated
Annual Rent $241,661.00
Lease Expiration Date 07/31/2027
Remaining Term 8.2Yrs

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