3649 Philips HwyJacksonville, FL 32207

  • Retail properties
  • 2,289 SF
For Sale
$3,716,000 View listing

Property Details for 3649 Philips Hwy

Year built
1987
Construction
WOOD
Lot size
1.50 AC
Property size (Sq ft)
2,289 SF
Zone code
CCG-2
Property type
Retail properties
Property subtype
Drive through restaurants
APN
126071-0110
APU
1260710110

Description

This exceptional investment opportunity presents a brand-new, 5,200-square-foot Circle K convenience store and gas station located at 3649 Philips Hwy in Jacksonville, Florida. Built in 2024, the property sits on a 1.48-acre corner lot at a four-way intersection experiencing over 60,000 vehicles daily, with proximity to I-95 (130,000+ vehicles daily). The property is 100% occupied under a 20-year absolute triple-net (NNN) lease with a corporate guarantee from Circle K, a highly rated tenant. The current annual net operating income (NOI) is $185,800, representing a 5.00% cap rate and a price per square foot of $714.62. The lease features five, five-year renewal options, extending the potential lease term to 40 years, with rent increases of 5% every 5 years. This offering provides a secure, long-term investment with significant upside potential in a high-traffic location. The property's strong tenant, long lease term, and prime location make it an attractive addition to any portfolio. This is a turnkey investment with minimal management requirements. The asking price is $3,716,000.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $607,857
    6.5%
    $561,099
    7%
    $521,020
  • Comparable approach

    Method
    Valuation
    Relative Method
    $392,301
    Geo Method
    $392,301
  • Alternative Use

    Use
    Valuation
    Residential
    $473,308
    Hospitality
    $433,547
    Educational
    $360,706
    Medical
    $373,112
    Retail
    $561,099
3649 Philips Hwy, Jacksonville, Florida

Location Insight

City
Jacksonville
County
Duval
State
Florida
Latitude
30.2884
Longitude
-81.6334
CBSA code
27260
CBSA name
JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$23,426
$635,980
$601,220
$1,237,200
-
$635,980
$601,220
$1,237,200

FAQs

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