11 Blanding BlvdOrange Park, FL 32073

Property Details for 11 Blanding Blvd

Year built

1996

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.57 AC

Property size (Sq ft)

2,722 SF

Zone code

BB

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

06-04-26-010672-011-00

APU

6042601067201100

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $864,089

  6.5%

  $797,621

  7%

  $740,648

• Comparable approach

  Method

  Valuation

  Relative Method

  $466,510

  Geo Method

  $466,510

• Alternative Use

  Use

  Valuation

  Residential

  $672,823

  Hospitality

  $616,302

  Educational

  $512,756

  Medical

  $530,391

  Retail

  $797,621

Location Insight

City

Orange Park

County

Clay

State

Florida

Latitude

30.1888

Longitude

-81.7388

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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