Jacksonville, FL - Fresenius Medical Care (St. Johns Bluff)

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN leased, corporate guaranteed Fresenius Kidney Care investment property located in Jacksonville, Florida. The tenant, Bio-Medical Applications of Florida, Inc. has 7 years of lease term remaining with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 1.70% annual rental increases throughout the initial term and 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.

The Fresenius Kidney Care is located near the signalized, hard corner intersection of State Highway 10 and St. John’s Bluff Road with a combined 78,800 vehicles passing by daily. State Highway 10 is a major retail thoroughfare serving the city of Jacksonville. The Fresenius is in close proximity to Kernan Village, a Walmart Supercenter anchored center that also features national/credit tenants including Petco, Ross Dress for Less, GameStop, LongHorn Steakhouse, Jollibee, and others. The asset is located less than 3 miles from Atlantic North Shopping Mall, a Academy Sports + Outdoors anchored center with national/credit tenants including Belk, LA Fitness, Chick-fil-A, Chipotle, and Panda Express. The property is in the center of a primary retail corridor with other nearby national/credit tenants including The Home Depot, Lowe’s, Crunch Fitness, McDonald’s, Panera Bread, Starbucks, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 191,000 residents and 54,500 employees with an average household income of $95,259.