289 Blanding Blvd Orange Park, FL 32073-4349

Property Details for 289 Blanding Blvd

Year built

1995

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.74 lot acres

Property size

3,287 SF

Zone code

BB

Property type

Drive through restaurants

APN

07-04-26-011768-000-00

APU

7042601176800000

Description

This exceptional investment opportunity presents a 2,778 square foot Whataburger restaurant located at 289 Blanding Blvd, Orange Park, FL 32073. The property boasts a strong net lease structure with a corporate guarantee from Whataburger and a secondary guarantee from JWB Ventures, significantly mitigating risk. The current lease, a NNN lease, has a remaining term of approximately 4 years, expiring November 30, 2028, with a lease commencement date of August 15, 2008, and a total lease term of 20.3 years. The property sits on a 0.89-acre lot and was built in 1995. The current net operating income (NOI) is $93,170, yielding a 4.75% cap rate with an asking price of $1,961,474 ($706.07 per square foot). The current rent is estimated to be at least 30% below market value, presenting significant future upside potential. The lease includes 10% rental increases every five years during option periods. This dual-guaranteed lease, combined with the below-market rent and potential for future rent increases or redevelopment, makes this a compelling investment with limited downside risk and substantial long-term growth prospects within the competitive Jacksonville, FL MSA. The property enjoys 100% occupancy.

Location Insight

City

Orange Park

County

Clay

State

Florida

Longitude

-81.7463

Latitude

30.1715

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments