Live Oak, FL - Zaxby's

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Zaxby’s investment property located in Live Oak, Florida. The tenant, Zaxby’s recently signed a new 20 year lease, demonstrating their commitment to the site. The lease features 1.5% annual increases throughout the initial term, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

The Zaxby’s is located along Ohio Avenue N / State Highway 51 / U.S. Highway 129 (14,400 VPD), the major retail thoroughfare serving the city of Live Oak, just off its interchange with Interstate 10 (34,300 VPD). The Zaxby’s is positioned directly across from a Walmart Supercenter, the dominant retail draw for the Suwannee County trade area. The asset is also near Suwannee Plaza, a shopping center featuring national/credit tenants including Hibbett Sports, Cato, Subway, Papa John’s and H&R Block, as well as Live Oak Crossing, a Publix-anchored center. The property is in the center of Live Oak’s primary retail corridor with other nearby national/credit tenants including Lowe’s, Tractor Supply, Dollar Tree, McDonald’s, Starbucks, Firehouse Subs, Dunkin’, Wendy’s, Taco Bell, Krystal and Popeyes, further increasing consumer traffic to the site. The subject property benefits from its position at the midpoint of the Interstate 10 corridor between Jacksonville (1 hr 20 min | 82 miles) and Tallahassee (1 hr 30 min | 84 miles), capturing daily-needs, commuter and highway traffic. Live Oak serves as the county seat and commercial hub of Suwannee County, with a 5-mile trade area supported by a population of more than 12,500 with an average household income of approximately $69,400.

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Listing ID: a28TP0000035BcEYAU