For Sale
$1,950,000

1393 Kings RdJacksonville, FL 32209

High-yield Jacksonville retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a Sunoco gas station and convenience store located at 1393 Kings Rd, Jacksonville, FL 32209. The property boasts a 1,172 square foot building constructed in 2002 and renovated in 2015, situated on a single story building with a 100% occupancy rate since January 8, 2022. The property features two gas pumps with EMV/chip card readers under a canopy, and benefits from a high-traffic location with an AADT of 18,900 vehicles per day, just half a mile from I-95 and two miles from the Jacksonville Landing. The current NNN lease, with two remaining lease options, runs until January 7, 2032, providing a substantial remaining lease term of 7.1 years. The property generates a significant net operating income (NOI) of $202,271 annually, resulting in a compelling 10.37% cap rate. Financial performance is easily documented through ATM, gaming machine, fuel, and store sales, averaging over $69,755 in monthly store sales and over 25,000 gallons of fuel sold monthly at a competitive price point. Additional income streams from ATMs and gaming machines contribute over $12,000 monthly. The property's strategic location within a high-density residential area, coupled with its strong financial performance and long-term lease, makes it an attractive investment prospect. The existing store layout offers potential for expansion, with extra space suitable for a fast-food concept. The asking price is $1,950,000, translating to $1,663.82 per square foot.

Highlights

  • $69,755 in monthly store sales.
  • High-volume fuel sales exceeding 25,000 gallons monthly at $0.29/gallon, with minimal competition.
  • $12,000+ monthly income from ATM, gaming, and miscellaneous sources, supported by strong financial records.
  • Two multi-product dispensers (MPDs) with an overlapping canopy.
  • 1,172 square foot leased retail space.
  • Located in a high-density residential area.

Property Details for 1393 Kings Rd

Property type
Retail properties, Grocery and convenience stores
Square Feet
1,172 SF
Year Built/Renovated
2002/2015
Buildings
1
Stories
1

Location Insight

City
Jacksonville
County
Duval
State
Florida
Latitude
30.3418426
Longitude
-81.6776065
1393 Kings Rd, Jacksonville, Florida

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1393 Kings Rd
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