1919 Wells Rd Orange Park, FL 32073

Property Details for 1919 Wells Rd

Year built

1992

Lot size

11.37 lot acres

Property size

108,578 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 108,578-square-foot retail property in Orange Park, Florida, fully occupied by a credit-rated Home Depot. The property, located at 1919 Wells Rd, 32073, sits on an 11.37-acre lot and boasts a strong location within a vibrant retail corridor. The single-tenant, absolute NNN lease provides significant investor benefits with no landlord responsibilities. The Home Depot has occupied the site since its construction in 1992 and has approximately 2.8 years remaining on their primary lease, with ten, five-year renewal options. The property's strategic location along Wells Road and Blanding Boulevard, with an average daily traffic count of 24,000 and 76,000 respectively, ensures high visibility and accessibility. The property is situated near other major retailers, including a large shopping center and Orange Park Mall, further enhancing its desirability. A sublease agreement on a portion of the land generates additional annual income, further bolstering the investment's return. The property's strong financial performance is reflected in its 6.00% cap rate and $839,059 net operating income (NOI). The asking price is $13,985,000, translating to $128.80 per square foot. This fee-simple ownership opportunity offers a compelling combination of stability, location, and strong financial performance. The property is zoned for commercial use, including warehouse and shopping center uses.

Location Insight

City

Orange Park

County

Clay

State

Florida

Longitude

-81.7343

Latitude

30.1895