1393 Kings RdJacksonville, FL 32209

Property Details for 1393 Kings Rd

Year built

2002

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.27 AC

Property size (Sq ft)

1,200 SF

Zone code

CCG-2

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

052898-0000

APU

528980000

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $318,667

  6.5%

  $294,154

  7%

  $273,143

• Comparable approach

  Method

  Valuation

  Relative Method

  $205,662

  Geo Method

  $205,662

• Alternative Use

  Use

  Valuation

  Residential

  $248,130

  Hospitality

  $227,286

  Educational

  $189,099

  Medical

  $195,602

  Retail

  $294,154

Location Insight

City

Jacksonville

County

Duval

State

Florida

Latitude

30.3418

Longitude

-81.6775

CBSA code

27260

CBSA name

JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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