1585 Island LnFleming Island, FL 32003

Property Details for 1585 Island Ln

Year built

2000

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.37 AC

Property size (Sq ft)

2,268 SF

Zone code

PUD

Property type

Retail properties

Property subtype

Auto shops

APN

32-04-26-021262-006-40

APU

32042602126200640

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $574,066

  6.5%

  $529,907

  7%

  $492,056

• Comparable approach

  Method

  Valuation

  Relative Method

  $388,702

  Geo Method

  $388,702

• Alternative Use

  Use

  Valuation

  Residential

  $446,996

  Hospitality

  $409,446

  Educational

  $340,654

  Medical

  $352,370

  Retail

  $529,907

Location Insight

City

Fleming Island

County

Clay

State

Florida

Latitude

30.1028

Longitude

-81.7137

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].