1585 Is Ln Fleming Island, FL 32003-7454
- Auto shops
- 2,268 SF
- 0.37 lot acres
Current Use by Public Records
- Goodyear Auto Service / Tire Shop / Auto Repair Shop
- Jiffy Lube / Tire Shop / Car Repair And Maintenance Service
Property Details for 1585 Is Ln
- Year built
- 2000
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.37 lot acres
- Property size
- 2,268 SF
- Zone code
- PUD
- Property type
- Auto shops
- APN
- 32-04-26-021262-006-40
- APU
- 32042602126200640
Description
This exceptional investment opportunity presents a 0.88-acre, net-leased retail property in Fleming Island, Florida, featuring a Goodyear Auto Service and a Jiffy Lube. Both tenants boast a remarkable 25-year operating history at this location, built in 2000, and are situated on a high-traffic retail corridor (County Road 220) experiencing 35,000 vehicles daily. The property benefits from a 100% occupancy rate with a strong NOI of $211,428, generating a 6.30% cap rate. The lease terms are exceptionally favorable, with Goodyear operating under a lease expiring March 31, 2035, and Jiffy Lube recently exercising a 10-year extension. Goodyear's lease is corporate guaranteed by The Goodyear Tire & Rubber Company. The location is within an affluent area, boasting average household incomes exceeding $115,000 within a five-mile radius and a dense population exceeding 89,000 within the same area. This offering presents a rare chance to acquire a stable, high-performing asset with significant long-term growth potential. The asking price is $3,354,400. Goodyear's current annual rent is $111,804, significantly below market value. This property offers a compelling combination of strong tenants, long-term leases, and a prime location in a rapidly growing market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,445,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,210,000
- 6.5%
- $3,075,000
- 7%
- $3,435,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,375,000
- Geo Method
- $3,485,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,350,000
- Retail
- $4,045,000
- Mixed-Use
- $3,895,000
- Hospitality
- $3,870,000
- Educational
- $3,645,000
- Residential Income
- $3,480,000
- Energy
- $3,340,000
- Income-Based Land
- $2,985,000
- Food Service
- $3,180,000
Location Insight
- Map
- Local Demand
- City
- Fleming Island
- County
- Clay
- State
- Florida
- Longitude
- -81.7137
- Latitude
- 30.1028
- CBSA code
- 27260
- CBSA name
- JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA
