For Sale
$4,069,000

11 Blanding BlvdOrange Park, FL 32073

High-return, NNN-leased Shell station

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a freestanding Shell-branded gas station and convenience store located at 11 Blanding Blvd, Orange Park, FL 32073. The property boasts a 2,527 square foot building situated on a 0.57-acre lot. Currently operating under a 21-year absolute NNN lease with 16 years remaining (expiring 11/30/2040), the lease commenced on 11/22/2019 and includes two 10-year renewal options. The lease features a strong 2.00% annual rent increase. The property, built in 1996 and renovated in 2020, generates a substantial net operating income (NOI) of $254,292, resulting in a compelling 6.25% cap rate. The asking price is $4,069,000, translating to $1,610.21 per square foot. The property includes 8 gas pumps and benefits from a high-traffic location with 75,000 vehicles passing daily. The surrounding area demonstrates strong demographics, with over 72,000 residents within a 3-mile radius and over 157,000 within 5 miles, boasting an average household income exceeding $73,000 within 3 miles. This is a turnkey investment in a tax-advantaged state, offering significant long-term potential. The tenant is a franchisee, and while no credit rating is provided, the lease structure mitigates risk. This is a rare opportunity to acquire a well-established, high-performing asset in a prime location.

Highlights

  • 21-Year Absolute NNN Lease with 16 years remaining, expiring 11/30/2040, including two 10-year renewal options.
  • 2.00% annual rent increases.
  • Three guarantors with a combined net worth exceeding $70 million.
  • Strong demographics: 72,000+ population within 3 miles, 157,000+ within 5 miles, and average household income exceeding $73,000 within 3 miles.
  • High-traffic location with 75,000 vehicles per day.

Property Details for 11 Blanding Blvd

Property type
Retail properties, Grocery and convenience stores
Square Feet
2,527 SF
Year Built/Renovated
1996/2020
Lot Size (sq. ft)
24,829 SF

Location Insight

City
Orange Park
County
Clay
State
Florida
Latitude
30.1887783
Longitude
-81.7388635
11 Blanding Blvd, Orange Park, Florida

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11 Blanding Blvd
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