Applebee's - Jacksonville

5505 J Turner Butler Boulevard
Jacksonville, FL 32216

Marketing Materials

Overview

JLL is pleased to offer for sale the fee-simple interest in a NNN leased Applebee’s located in Jacksonville, FL. The property is a freestanding retail building that is tenanted by Doherty Florida JTB, LLC (d/b/a Applebee’s) on an NNN lease with 9.18 years of contractual lease term remaining. The Property is strategically positioned just off the exit ramp of Interstate 95 (140,000 vehicles per day) and in close proximity to Route 1. The Asset is surrounded by 17 hotels and serves as one of the few casual sit down dining restaurants in the local area. The Asset has great frontage and visibility along J Turner Butler Boulevard, which sees outstanding daily traffic counts of over 39,000 vehicles daily. The Asset benefits from a daytime population of 116,000 in a 3 mile radius, nearly double of the total residents in the area. The great location, absence of landlord obligations, and annual rental increases make this a great investment opportunity.
  • Primary Broker

    Peter Furest - Net Lease Broker
    Peter Furest
    (212) 812-5802

  • Secondary Broker(s)

    Eric Suffoletto - Net Lease Broker
    Eric Suffoletto
    (617) 316-6479

  • Taylor Wolfes - Net Lease Broker
    Taylor Wolfes
    (404) 995-2275

  • In-State Licensee

    Carson Good - Net Lease Broker
    Carson Good
    FL

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Investment Highlights
• The tenant has 9.18 years of lease term remaining
• The tenant is on a NNN lease with no landlord responsibilities
• Strong daytime population demographics
• The tenant is a franchisee with 150+ stores
• Well-positioned just off the exit of Interstate 95 that sees over 140,000 vehicles daily
• Well-positioned with frontage and visibility to J Turner Butler Boulevard which sees daily vehicle counts of over 39,000
• Asset is surrounded by 17 hotels and few casual sit down restaurants
General
Property Type Retail
Property Address 5505 J Turner Butler Boulevard
Jacksonville, FL 32216
Market FL-Jacksonville
Land In Acres 1.31
Building Size 4,453 Square Feet
Primary Use Restaurant
Tenancy Single-Tenant
Financial
Price $3,527,898
Price PSF $792.25
Cap Rate 6.85%
Current NOI $241,661
Lease
Tenant Name Applebee's
Lease Type NNN
Annual Rent $241,661
Rent Escalations 1.5% annual increases
Lease Expiration Date 7/31/2027
Remaining Term 8.9Yrs