NNN Tire Service
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For Sale
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450 Lane Ave N, Jacksonville, FL 32254
Corporately guaranteed lease supports passive ownership of an established commercial tire and automotive service property.
Property Size39,937 SF
Price / SF$100.11
Days on Market5
Property Features for 450 Lane Ave N
General Information
Standard status
Active
Size
39,937 SF
Class
C
Property subtype
Retail, Industrial
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$219,890
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1965
Year Renovated
1980
Tenancy
Single
Listing Agency:
Northmarq
Listed By:
Maxwell Eaton · License #341497
Source:
Crexi
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 15 at 4:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Northmarq
Investment Insights
Based on property information with market context.
The 39,937-square-foot commercial property operates as a Goodyear Commercial Tire & Service Center and was built in 1965. The asset is leased to The Goodyear Tire & Rubber Company under a long-term NNN lease with scheduled rental increases and a corporate guarantee, creating a passive ownership structure.
Located at 450 Lane Ave N in Jacksonville, Florida, the property fronts Lane Avenue North within an established industrial trade area. Multiple ingress and egress points support access, while the site receives exposure to substantial daily traffic. Interstate 10 and Interstate 295 are nearby, providing regional connectivity. The surrounding area includes national retailers, automotive service providers, restaurants, and dense residential neighborhoods.
Located at 450 Lane Ave N in Jacksonville, Florida, the property fronts Lane Avenue North within an established industrial trade area. Multiple ingress and egress points support access, while the site receives exposure to substantial daily traffic. Interstate 10 and Interstate 295 are nearby, providing regional connectivity. The surrounding area includes national retailers, automotive service providers, restaurants, and dense residential neighborhoods.
Key Highlights
- 39,937‑square‑foot commercial tire and service center
- Leased to The Goodyear Tire & Rubber Company with a corporate guarantee
- Long‑term NNN lease with scheduled rental increases
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$221,914
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,438,280
$4.4M
Cap Rate 7%
$3,170,200
$3.2M
Cap Rate 9%
$2,465,711
$2.5M
Market Conditions
NOI Build-Up for 39,937 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$335.5K $8.40/SF
− Vacancy
−$18.5K −$0.46/SF
EGI
$317.0K $7.94/SF
− OpEx
−$95.1K −$2.38/SF
NOI
$221.9K $5.56/SF
Area
Jacksonville, FL
Vacancy
5.50%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,438,280
Cap Rate 7%
$3,170,200
Cap Rate 9%
$2,465,711
Alternative Uses
Best Use
Retail
$6.45M
$5.64M – $7.52M
NOI $451,376 @ 7.0% cap · market cap 11.29%
Second Best
Industrial
$3.17M
$2.77M – $3.70M
NOI $221,914 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$10.94M
$9.57M – $12.76M
NOI $765,832 @ 7.0% cap · market cap 19.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
58k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 37%
Hotels & Casinos 2%
Zaxby's Chicken Fingers & Buffalo Wings
Dining
24,450 visits/mo
0.5 miles
Circle K
Shops & Services
12,523 visits/mo
0.5 miles
Hardee's
Dining
9,477 visits/mo
0.5 miles
BP
Shops & Services
5,536 visits/mo
0.4 miles
Napa Auto Parts
Shops & Services
3,069 visits/mo
0.2 miles
Demographics for 32254, FL
14,545
Population
6,331
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
73%
High-School Grad
12.4 sq mi
ZIP Area
1,173
Density / Sq Mi
$36,449
Median Household Income
$29,443
Median Earnings
$1,111
Median Rent
$85,100
Median Home Value
Market
Vacancy Rate% for Retail in Jacksonville, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Corporately guaranteed lease supports passive ownership of an established commercial tire and automotive service property.
Where is this nnn property located?
The property is located at 450 Lane Ave N Jacksonville, FL.
What is the asking price?
The asking price for this property is $3,998,000.
What are key features of this property?
This property features: 39,937‑square‑foot commercial tire and service center; Leased to The Goodyear Tire & Rubber Company with a corporate guarantee; Long‑term NNN lease with scheduled rental increases
