Just Listed! Jacksonville Automotive Portfolio Large 3+ Acre Parcel
Marcus & Millichap is pleased to present corporate guaranteed Tire Kingdome, Enterprise Rent-a-Car, and Enterprise Commercial Trucks located on Philips Highway, Jacksonville, Florida. Located within the Butler/Baymeadows submarket of Jacksonville, the property benefits from desirable and strong demographics, with a population of 115,818 and an average household income of $91,501 within a 5-mile radius. Strategically located on Highway US-1 less than 1 mile from the intersection of Interstate-95 and Interstate-295, the property experiences traffic counts of over 39,000 vehicles per day. The Butler/Baymeadows submarket’s strength is made evident by the annual consumer spending above $4.5 Billion within a 5-mile radius of the property. Consumer household spending on transportation and maintenance within a 5-mile radius is $372 million, making it the second-largest category behind food and alcohol. The numerous car dealerships, rental agencies, and auto service shops in the surrounding area create an automotive retail corridor with synergy in the consumer market, making this location ideal for Enterprise retail sites.
National retailers in the immediate trade area include Walmart Supercenter, Home Depot, Best Buy, McDonald’s, Starbucks, Chick-fil-A, Simon Outlet Mall, Ford, Nissan, Chevrolet, Volvo, Tire Kingdom, and many others.
|Property Name||Address||City||State||Price||Cap Rate||SqFt||NOI||Rent/SqFt||Price/SqFt||Term||Lot|
|Enterprise Rent-A-Car||10733 Phillips Hwy||Jacksonville||FL||$1,203,661||6.80%||2,400||$81,849||$ 34.10||$ 501.53||4.0||0.73|
|Enterprise Commercial||10777 Phillips Hwy||Jacksonville||FL||$875,523||6.40%||5,910||$56,033||$ 9.48||$ 148.14||4.5||1.31|
|Tire Kingdom||10755 Philips Hwy||Jacksonville||FL||$2,130,219||6.80%||6,720||$144,855||$ 21.56||$ 317.00||1.6||0.98|
Enterprise Rent-a-Car NNN For Sale in Florida
This Enterprise is a well-established location with over 12 years of operation since opening in 2009. As a demonstration of the tenant’s commitment, upon exercising their second five-year option, they added a five-year option with 2.25 percent annual increases. The tenant, Enterprise Leasing of Company of Florida LLC, is owned by Enterprise Holdings, with S&P A- Credit Rating and reported $25.9B of annual revenue. Florida is an income tax-free income state.
Enterprise Commercial Trucks & Leasing NNN For Sale in Florida
Marcus & Millichap is pleased to present corporate guaranteed Enterprise Commercial Trucks located 10777 Philips Highway, Jacksonville Florida. The subject property consists of a 5,712 square foot freestanding building on a 1.31-acre parcel of land. This Enterprise is a well-established location with over 12 years of operation since opening in 2009. As a demonstration of the tenant’s commitment, upon exercising their second five-year option, they added a five-year option with 2.25 percent annual increases. The tenant, Enterprise Leasing of Company of Florida LLC, is owned by Enterprise Holdings, with S&P A- Credit Rating and reported $25.9B of annual revenue. Florida is an income tax-free income state.
Tire Kingdom Absolute NNN Lease For Sale in Florida
Marcus & Millichap is pleased to present this Tire Kingdom located at10755 Philips Hwy, Jacksonville, Florida. The property consists of a 6,720 square foot free-standing retail structure and is situated on a .98 acre parcel.
This build to suit 8-bay Tire Kingdom is a well-established location with over 19 years of operation since opening in 2002. As a demonstration of the tenant’s commitment, during their 2nd Option Period in 2017, Tire Kingdom amended a third 5 Year Lease Option with a 2% annual rent increase.
Tire Kingdom is a large American tire store chain located primarily in the southern part of the United States. In the year 2000, it became a subsidiary of TBC Corporation. TBC is headquartered in Palm Beach Gardens, Florida and it owns Tire Kingdom with 180 plus locations, NTB with 450 plus locations, Tire America, Big O Tires with 440 plus locations, and Midas with 2,100 locations.
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