Single TenantAdvance Auto Investment Parts – Jacksonville, Offering FL Advance Auto Parts NNN Lease Jacksonville, FL Advance Auto Parts 1008 Edgewood Ave N Jacksonville, FL 32254 $1,750,000 6.21% Cap 5% increases at each option renewal 3 Five Year Options to Renew Great Visibility Average Household Income Above $64,000 Non-Income State Brent L. Hensley 216 N. Coast Hwy 101 (760) 452.2401 Encinitas, CA 92024
[email protected] www.1031nnnsearch.com Advance Auto Parts – Jacksonville, FL Property and Area Description The subject property consists of a 6,814 square foot commercial retail building on a large 1.45 Acre parcel of land and is strategically located one parcel away from the signalized intersection of Commonwealth Avenue and Edgewood Ave N with combined daily traffic counts in excess of 30,000 vehicles per day and benefits with almost 500,000 people with a five mile radius. Commonwealth Shopping Center (81,467 s.f.) is located at the intersection of Edgewood Avenue and Commonwealth Avenue in close proximity to the I-10 and I-295 interchanges. The original 15-year NNN lease commenced in 20068 as a build-to-suit Discount Auto Parts which was later rebranded in 2008 when Advance Auto Parts purchased the entire Discount Auto Parts’ entire Florida region. Higher than average stores sales compelled Advance Auto to extend the existing NNN lease 10 more years commencing January 1, 2019. The lease will continue to offer three 5-year options for the tenant to renew the lease. At each renewal, there will be a fixed 5% rental increase.