Jacksonville, FL - Fresenius Medical Care (Edgewood Ave)

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, Fresenius investment property located in Jacksonville, Florida. The tenant, Bio-Medical Applications of Florida, Inc. has over 6 years remaining on its 15-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 1.7% annual rental increases throughout the initial term and 10% increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

The Fresenius is located near the signalized, hard corner intersection of Edgewood Ave and New Kings Rd, combining to average over 57,000 vehicles passing by daily. Edgewood is a major retail thoroughfare serving the city of Jacksonville. The property is in close proximity to Gateway Town Center, one of the largest shopping malls in Jacksonville, which includes national tenants such as Burlington, Five Below, Planet Fitness, McDonald’s, Winn Dixie, and many more. The asset is located within 5 miles of downtown Jacksonville, which holds the largest population in the state of Florida. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a 24-hour Walmart Supercenter, Lowe’s, Home Depot, Publix, Aldi, Walgreens, Tractor Supply Co., Taco Bell, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 158,800 with an average household income of $64,623.