Whataburger
Orange Park, FL
Key Details
| Price: | $1,961,474 |
|---|---|
| Cap Rate: | 4.75% |
| Annual Rent: | $93,170 |
| Address: | 289 Blanding Boulevard, Orange Park, Florida 32073 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 8/15/2008 |
| Lease Expiration: | 11/30/2028 |
| Lease Term Remaining: | 3.8 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.89 Acres |
| Building Size: | 2,778 SF |
| Year Built: | 1995 |
NNN Pro is pleased to present the exclusive listing for a Whataburger located at 289 Blanding Boulevard, Orange Park, Florida 32073. The site consists of roughly 2778 rentable square feet of building space on an estimated 0.89-acre parcel of land. This Whataburger is subject to a 20-year Triple Net (NNN) lease, which commenced 8/15/2008. The current annual rent is $93,170 and has scheduled increases of 10.00% Every 5 Years.
About the Investment
- Below Market Rent In Fast Rent Growth Market
- Ten Percent (10%) Rental Increases Occurring Every Five (5) Years In Option Periods
- Subleased Investment Structure Mitigating Downside
- Future Upside In Market Rents And/Or Redevelopment
- Prime Future Value-add Offering In Competitive Jacksonville, FL MSA
About the Location
- Jacksonville Ranked In The Top 10 Markets In The Nation For The Fastest Pace Of Rent Growth As Of The First Quarter Of 2024
- Located on a Four-Way Signalized Intersection With Terrific Frontage and Exposure
- Dense Retail Corridor, Surrounded By New Construction and Minimal Vacancy |Walmart, Lowe’s, Publix, Staples, Walgreens, Big Lots, Dollar Tree, McDonald’s, Burger King, Popeyes, Hardee’s, Starbucks, Arby’s, Taco Bell, Dunkin’ Donuts, Texas Roadhouse, and Many More
- Excellent Florida Real Estate | Approximately 16 Miles South of Downtown Jacksonville | Florida’s Most Populous City & 12th Largest City in the Country
- Jacksonville Has Grown Faster than Any Other Florida City and Is Among the Fastest Growing Cities in the Country
- Jacksonville is Projected to Have 14% More Job Opportunities in the Next 10 Years, Double the Growth Rate Projected Nationwide.
About the Tenant/Brand
- Whataburger Is An Iconic Texas Fast Food Restaurant Chain With More Than 980 Locations Across The Country
- In 2021, Newsweek Ranked Whataburger Number 2 For “Fast-food Restaurant Chains” In Its Annual “America’s Best Customer Service” List.
- The Iconic Texas Chain Was Family-owned Until 2019, When The Owners Sold A Majority Stake To Bdt Capital, Specifically To Enable The Growth And Expansion Of The Brand
Key Details
| Price: | $1,961,474 |
|---|---|
| Cap Rate: | 4.75% |
| Annual Rent: | $93,170 |
| Address: | 289 Blanding Boulevard, Orange Park, Florida 32073 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 8/15/2008 |
| Lease Expiration: | 11/30/2028 |
| Lease Term Remaining: | 3.8 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.89 Acres |
| Building Size: | 2,778 SF |
| Year Built: | 1995 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Cade Kearn
ckearn@nnnpro.com
License: NY: 10401306065
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Broker of Record
Brian Brockman
Bang Realty-Naples, Inc
License: BK3327646
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.