For Sale
$3,354,400

1585 Island LnFleming Island, FL 32003

High-return NNN retail investment. Strong tenants, long lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 0.88-acre, net-leased retail property in Fleming Island, Florida, featuring a Goodyear Auto Service and a Jiffy Lube. Both tenants boast a remarkable 25-year operating history at this location, built in 2000, and are situated on a high-traffic retail corridor (County Road 220) experiencing 35,000 vehicles daily. The property benefits from a 100% occupancy rate with a strong NOI of $211,428, generating a 6.30% cap rate. The lease terms are exceptionally favorable, with Goodyear operating under a lease expiring March 31, 2035, and Jiffy Lube recently exercising a 10-year extension. Goodyear's lease is corporate guaranteed by The Goodyear Tire & Rubber Company. The location is within an affluent area, boasting average household incomes exceeding $115,000 within a five-mile radius and a dense population exceeding 89,000 within the same area. This offering presents a rare chance to acquire a stable, high-performing asset with significant long-term growth potential. The asking price is $3,354,400. Goodyear's current annual rent is $111,804, significantly below market value. This property offers a compelling combination of strong tenants, long-term leases, and a prime location in a rapidly growing market.

Highlights

  • 0.88-acre net-leased retail property in Fleming Island, FL, with Goodyear Auto Service and Jiffy Lube.
  • High-traffic location on County Road 220 (35,000 VPD).
  • 100% occupancy with a strong NOI of $211,428 and a 6.30% cap rate.
  • Long-term leases: Goodyear (expires 3/31/2035, corporate guarantee) and Jiffy Lube (10-year extension).
  • Affluent area with average household incomes exceeding $115,000 within a 5-mile radius and a population exceeding 89,000.
  • Asking price: $3,354,400.

Property Details for 1585 Island Ln

Property type
Retail properties, Gas stations
Year Built
2000
Lot Size (sq. ft)
38,333 SF

Location Insight

City
Fleming Island
County
Clay
State
Florida
Latitude
30.103103838296
Longitude
-81.713530193657
1585 Island Ln, Fleming Island, Florida

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1585 Island Ln
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