649 Mcduff S Ave Jacksonville, FL 32205-5642

Property Details for 649 Mcduff S Ave

Year built

1983

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.34 lot acres

Property size

1,382 SF

Zone code

CCG-2

Property type

Drive through restaurants

APN

063380-0000

APU

633800000

Description

This fee-simple Jacksonville, FL Popeyes offers a compelling investment opportunity. The 1,382 square foot building, renovated in 2010 and equipped with a drive-thru, sits on a 0.34-acre lot at a high-traffic intersection just off I-10, experiencing over 160,000 vehicles per day. The property benefits from its location on the commuter side of I-10, three miles from downtown Jacksonville, a major employment center with 56,000 employees and three college campuses. Surrounding retailers include Lowe's, Winn-Dixie, Walgreens, and numerous fast-food chains. The absolute NNN lease with Sailormen, Inc., a 130+ unit operator, provides zero landlord responsibilities and features a remaining term of approximately 14.9 years, expiring September 30, 2039. The lease commenced September 20, 2019, and includes 1.75% annual rent increases and four 5-year renewal options. The asking price is $1,621,878, representing a 4.75% cap rate and a price per square foot of $1,173.57. The property's strong tenant, prime location, and favorable lease terms make it an attractive investment in a growing market with an estimated $2 billion in consumer spending within a 3-mile radius. The building was constructed in 1983. This is a depreciable asset.

Location Insight

City

Jacksonville

County

Duval

State

Florida

Longitude

-81.7051

Latitude

30.3201

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments