3649 Philips HwyJacksonville, FL 32207

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

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.

• 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

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

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