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6005 St Augustine RdJacksonville, FL 32217
CVS | Jacksonville, FL
Asset ClassRetail
overview of deal

Overview

Positioned at a high-traffic, signalized hard corner, this asset is located directly across the street/adjacent to major drivers of foot traffic like Publix, LA Fitness, TJ Max, PNC Bank, Bank of America…etc. Located at the prime intersection of St. Augustine Rd and University Blvd, the site commands exceptional visibility with a combined volume exceeding +42,190 VPD. The investment's strength is further solidified by CVS recent lease extension to 20 years in 2020, a powerful signal of long-term commitment to this specific location.

 

Featuring a corporate-backed, Absolute NNN lease, the offering provides a truly 'hands-off' ownership experience through November 2040. With approximately 14 years of firm term remaining and 5% rental increases in each option period, this asset offers a secure, passive income stream and a built-in hedge against inflation.

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Investment Highlights

  • Long-Term Lease Stability: Features a corporate-guaranteed lease with approximately 14 years of primary term remaining through November 2040.
  • Absolute NNN Structure: Zero landlord obligations; the tenant is responsible for all capital expenditures, operating expenses, taxes, and insurance, providing a fully passive investment.
  • Hedge Against Inflation: Includes 5% rental increases every five years throughout the Five (5), 5-year option periods, providing a consistent hedge against inflation.
  • Strategic Hard-Corner Positioning: Ideally situated at a high-visibility, signalized intersection with traffic counts exceeding +42,197 Vehicles Per Day.
  • Superior Demographic Profile: Located in a high-growth residential corridor with average household incomes exceeding $103,000 within a 3-mile radius.
  • Thriving Jacksonville Market: Jacksonville, FL has officially become the most populous city in Florida and now ranks as the 10th largest in the United States. Ranking as the #2 strongest job market in the nation, the city has transformed into a premier corporate hub, attracting over 150 regional and divisional headquarters.

 

 

 

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6005 St Augustine RdJacksonville, FL 32217

EXCLUSIVELY LISTED BY

Daniel GonzalezFVP & Associate Director

License #: SL3463209 (FL)

(305) 395-6972daniel.gonzalez@matthews.com
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