4487 Lafayette St Marianna, FL 32446-3417
- Retail space
- 8,000 SF
- 1.24 lot acres
Current Use by Public Records
- Environmental Health / Public Health Department
- UPS Access Point location / Shipping And Mailing Service / Mailing Service
- Advance Auto Parts / Auto Parts Store / Car Accessories Store
- Jackson County Grants / County Government Office
Property Details for 4487 Lafayette St
- Year built
- 2020
- Construction
- STEEL FRAME
- Lot size
- 1.24 lot acres
- Property size
- 8,000 SF
- Property type
- Retail space
- APN
- 03-4N-10-0346-0000-1511
- APU
- 034N10034600001511
Description
This exceptional investment opportunity presents a fee-simple, 8,000 square foot retail property in Marianna, Florida. The property, built in 2020, is currently 100% occupied by a portfolio of nationally recognized auto parts retailers including Advance Auto Parts, AutoZone, O'Reilly Auto Parts, and AutoNation, under a triple-net (NNN) lease structure. The lease, which commenced July 27, 2020, and extends to December 31, 2035, offers a substantial remaining term of 11 years, with three 5-year renewal options. Rent increases are built into the lease, with a 14.5% increase in the first option and 7.5% increases in the second and third. The property boasts a strong net operating income (NOI) of $124,186, resulting in a compelling 6.00% cap rate. Situated on a 1.25-acre lot at 4487 Lafayette St, Marianna, FL 32446, the property benefits from high daily traffic counts exceeding 23,447 vehicles and is strategically located near other national retailers such as Winn-Dixie, Family Dollar, Wells Fargo, and Walgreens. The tenant, Advance Auto Parts, is a credit-rated, investment-grade corporation providing a strong guarantee for the lease. This is a rare opportunity to acquire a high-performing, low-risk retail investment with significant long-term growth potential. The average household income in the area is $76,459 annually. The property's prime location and strong tenant occupancy make it an attractive investment for discerning buyers.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,335,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,260,000
- 6.5%
- $2,020,000
- 7%
- $2,010,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,030,000
- Geo Method
- $2,130,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,830,000
- Retail
- $1,990,000
- Mixed-Use
- $2,000,000
- Hospitality
- $1,930,000
- Educational
- $1,905,000
- Residential Income
- $1,800,000
- Energy
- $2,080,000
- Income-Based Land
- $1,780,000
- Food Service
- $1,770,000
Location Insight
- Map
- Local Demand
- City
- Marianna
- County
- Jackson
- State
- Florida
- Longitude
- -85.2219
- Latitude
- 30.7734
