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1360 Airport Rd 5,370 SF Retail Building Jacksonville, FL 32218 $3,586,483 CAD ($667.87 CAD/SF) 6.75% Cap Rate
Investment Highlights
- IRREPLACEABLE I-95 / AIRPORT NODE
- LONG-TERM CORPORATE NNN LEASE WITH BUILT-IN GROWTH
- RETAINED THROUGH BANKRUPTCY (TOPPERFORMING UNIT)
Executive Summary
LONG-TERM CORPORATE NNN LEASE WITH BUILT-IN GROWTH
- 11 years remaining on a 20- year corporate lease with 10% rent increases every 5 years and throughout option periods
- Absolute NNN structure with zero landlord responsibilities
RETAINED THROUGH BANKRUPTCY (TOP PERFORMING UNIT)
- Lease was assumed through Chapter 11 restructuring, with the company eliminating underperforming locations and retaining this site — a direct indicator of relative unit performance
STRONG SUNBELT GROWTH MARKET WITH FAVORABLE DEMOGRAPHICS
- Jacksonville is one of Florida’s fastest-growing metros, benefiting from sustained in-migration, a diversified employment base, and no state income tax, driving long-term population and economic growth across the region
IRREPLACEABLE I-95 / AIRPORT NODE
- Direct access to I-95 (82,500 VPD) and Airport Road (16,900 VPD), located approximately 1.5 miles from Jacksonville International Airport (~7 million annual passengers)
AIRPORT-DRIVEN DEMAND + HOTEL DENSITY
- Surrounded by 10+ flagged hotels (2,000+ rooms) within a half-mile radius, creating consistent, nondiscretionary dining demand from travelers and staff
PROXIMITY TO RIVER CITY MARKETPLACE
- Located 1.3 miles from a dominant 850,000 SF power center anchored by Walmart, Lowe’s, and Best Buy, with a dense lineup of national retailers and restaurants
- 11 years remaining on a 20- year corporate lease with 10% rent increases every 5 years and throughout option periods
- Absolute NNN structure with zero landlord responsibilities
RETAINED THROUGH BANKRUPTCY (TOP PERFORMING UNIT)
- Lease was assumed through Chapter 11 restructuring, with the company eliminating underperforming locations and retaining this site — a direct indicator of relative unit performance
STRONG SUNBELT GROWTH MARKET WITH FAVORABLE DEMOGRAPHICS
- Jacksonville is one of Florida’s fastest-growing metros, benefiting from sustained in-migration, a diversified employment base, and no state income tax, driving long-term population and economic growth across the region
IRREPLACEABLE I-95 / AIRPORT NODE
- Direct access to I-95 (82,500 VPD) and Airport Road (16,900 VPD), located approximately 1.5 miles from Jacksonville International Airport (~7 million annual passengers)
AIRPORT-DRIVEN DEMAND + HOTEL DENSITY
- Surrounded by 10+ flagged hotels (2,000+ rooms) within a half-mile radius, creating consistent, nondiscretionary dining demand from travelers and staff
PROXIMITY TO RIVER CITY MARKETPLACE
- Located 1.3 miles from a dominant 850,000 SF power center anchored by Walmart, Lowe’s, and Best Buy, with a dense lineup of national retailers and restaurants
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,370 SF
Building Class
B
Year Built/Renovated
2001/2017
Price
$3,586,483 CAD
Price Per SF
$667.87 CAD
Cap Rate
6.75%
NOI
$242,060 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.77 AC
Zoning
PUD
Parking
110 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
142’ on Airport Rd
Amenities
- Freeway Visibility
- Pylon Sign
- Restaurant
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- 5,370 SF
- -
- Dec 2037
Ruby Tuesday, Inc., together with its subsidiaries, engages in the development, operation, and franchise of casual dining restaurants. Ruby Tuesday, Inc. has over 540 Ruby Tuesday brand restaurants in 40 states, 11 foreign countries, and Guam. Their Company-owned and operated restaurants are concentrated primarily in the Southeast, Northeast, Mid-Atlantic, and Midwest of the United States, which they consider to be their core markets.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | 5,370 SF | - | Dec 2037 |
Somewhat walkable
30/100
Very drivable
80/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 019379-0200 | Improvements Assessment | $564,700 CAD |
| Land Assessment | $1,262,410 CAD | Total Assessment | $1,827,110 CAD |
Property Taxes
Parcel Number
019379-0200
Land Assessment
$1,262,410 CAD
Improvements Assessment
$564,700 CAD
Total Assessment
$1,827,110 CAD
Contacts
-
David Hoppe -
Eric Suffoletto -
Mike Lucier -
Ben Olmstead -
Ben McCarter -
Kendra Doherty -
Connor Kuchman -
Atlantic Capital Partners
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1360 Airport Rd
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