Overview

Description

• Brand new 15-year lease with 5 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 8% rental increases every 5 years during the initial term and at the beginning of each option period
• Absolute NNN (Ground Lease) Leased Fee Ownership
• Newly constructed building featuring a state-of-the-art design with high-quality materials
• No landlord responsibilities
• Ideal, management-free investment for a passive investor in a state with no state income tax
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• Population counts exceed 82,000 individuals in the immediate trade area
• Affluent average household income of $150,900

• The asset is directly across from a Publix anchored center, further providing consumer traffic in the trade area
• The subject property is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Starbucks, Panera, Chipotle, Walmart Supercenter, CVS Pharmacy, Home Depot, Aldi, and many more
• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site
• The site benefits from nearby, direct on & off ramp access to Interstate 95, a major thoroughfare serving the east coast (116,000 VPD)
• The asset is located along County Rd. 210 (16,500 VPD)
• The asset has excellent visibility and multiple points of ingress/egress
• St. Johns County is the 10th fastest growing county in the united state
• The 1-mile trade area anticipates a 9.51% projected annual growth rate from 2023-2028

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