Investment Highlights
- Recently Extended, Brand New, 10-Year, NNN Lease with Two, Five-Year Renewal Options
- 7.5 Percent Rent Increase in Year 6; and 10 Percent in Each Option Period
- Tenant Has Operated From This Location for More Than 20 Years, Showing a Strong Commitment to the Site
- Main Street has a Daily Traffic Count of Approx. 20,100 Vehicles
- Population Over 170,000 Within Five Miles of Property
- Exceptional Location Just Minutes from Downtown Jacksonville
- Jacksonville has a Very Strong Military Presence and is Home to Naval Air Station Jacksonville and Mayport Naval Station
- The Jacksonville Metro is Home to More Than 1.5 Million People
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire a Value Pawn & Jewelry in Jacksonville, Florida. This Value Pawn offers a newly extended, 10-year triple net lease. This lease has two, five-year renewal options and rent increases every five years. Rent increases include 7.5 percent in year six of base term, and 10 percent in each option period. Having operated from this location for more than 20 years, the Tenant shows a strong commitment to the site.
The subject property is located on Main Street which is a major connector for the Jacksonville area with direct access to Downtown Jacksonville, just minutes from Value Pawn. Main Street has a daily traffic count of approximately 20,100 vehicles. The area has very strong traffic counts and demographics, with a population of over 170,000 within five miles of the subject property. Surrounding national retailers include Badcock Home Furniture, Hibbett Sports, Rainbow Shops, Family Dollar, Rent-A-Center, Winn Dixie, Buddy’s Home Furniture, Pizza Hut, Wendy’s, McDonald’s, Cricket Wireless, Harvey’s Supermarket, Walgreens, Bank of America and many more.
Value Pawn is two miles from UF Health Jacksonville, a 695-bed private, not-for profit academic health center affiliated with the University of Florida. Located in one of the largest markets in the state, the Jacksonville metro area is home to more than 1.5 million people. The metro is also projected to add roughly 105,800 people through 2024.
