7752 Lem Turner Rd Jacksonville, FL 32208-3255

Property Details for 7752 Lem Turner Rd

Year built

1998

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.47 lot acres

Property size

2,850 SF

Zone code

CCG-2

Property type

Grocery and convenience stores

APN

026907-0000

APU

269070000

Description

This exceptional investment opportunity presents a freestanding Sunoco gas station and convenience store located at 7752 Lem Turner Rd, Jacksonville, FL 32208. The property boasts a 2,835 square foot building on a 0.47-acre lot, constructed in 1998 and renovated in 2020. Currently operating under a 21-year absolute NNN lease with Sunoco, commencing November 22, 2019, and expiring November 30, 2040, there are 16 years remaining on the primary term. The lease includes two 10-year renewal options and features a strong 2.00% annual rent increase. The property generates a substantial net operating income (NOI) of $289,976, resulting in an attractive 6.25% cap rate. The asking price is $4,640,000, translating to $1,636.68 per square foot. The property benefits from a prime location with high traffic counts (47,000+ vehicles per day) and a dense population (81,000+ within 3 miles, 180,000+ within 5 miles). The eight gas pumps and the convenience store contribute to the property's robust performance. This is a rare opportunity to acquire a well-established, high-performing asset in a desirable location within a tax-advantaged state. The property is 100% occupied.

Location Insight

City

Jacksonville

County

Duval

State

Florida

Longitude

-81.6794

Latitude

30.3905

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments