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598 S Jackson St 2,000 SF Retail Building Jacksonville, TX 75766 $2,566,238 CAD ($1,283.12 CAD/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- 2022 DEVELOPMENT
- HOSPITAL SHADOW ANCHOR
- UNDER MARKET RENTS
- 22,000 + VEHICLES PER DAY
EXECUTIVE SUMMARY
Colliers is pleased to present to qualified investors the opportunity to acquire the single-tenant net lease Starbucks property located in Jacksonville, Texas.
The ±2,000 SF freestanding building was recently constructed in 2022 as a build-to-suit for Starbucks Corporation who signed a 10-year corporately guaranteed lease with four (4) 5-year options to extend. The lease features scheduled rental increases every 5 years, and minimal landlord responsibilities, making this an ideal investment opportunity for a passive investor.
The property is located at the hard corner of S Jackson St. and San Antonio St, and is shadow anchored by the UT Health Jacksonville General Hospital. The S Jackson retail corridor averages over 22,000 vehicles per day and features a strong mix of national retailers including McDonalds, Chick-fil-A, KFC, Whataburger, Panda Express, Super 1 Foods, Walmart, and many more.
Jacksonville is a fast-growing city in East Texas located 40 minutes south of Tyler. The Tyler-Jacksonville combined statistical area has a population of over 300,000 residents. As the most populous city in Cherokee County, Jacksonville is positioned for success, offering the perfect balance of country lifestyle with urban convenience.
The ±2,000 SF freestanding building was recently constructed in 2022 as a build-to-suit for Starbucks Corporation who signed a 10-year corporately guaranteed lease with four (4) 5-year options to extend. The lease features scheduled rental increases every 5 years, and minimal landlord responsibilities, making this an ideal investment opportunity for a passive investor.
The property is located at the hard corner of S Jackson St. and San Antonio St, and is shadow anchored by the UT Health Jacksonville General Hospital. The S Jackson retail corridor averages over 22,000 vehicles per day and features a strong mix of national retailers including McDonalds, Chick-fil-A, KFC, Whataburger, Panda Express, Super 1 Foods, Walmart, and many more.
Jacksonville is a fast-growing city in East Texas located 40 minutes south of Tyler. The Tyler-Jacksonville combined statistical area has a population of over 300,000 residents. As the most populous city in Cherokee County, Jacksonville is positioned for success, offering the perfect balance of country lifestyle with urban convenience.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,000 SF
Building Class
B
Year Built
2022
Price
$2,566,238 CAD
Price Per SF
$1,283.12 CAD
Cap Rate
5.75%
NOI
$147,493 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.63 AC
Zoning
G-commercial dist
Parking
32 Spaces (16 Spaces per 1,000 SF Leased)
AMENITIES
- Monument Signage
Walk Score®
Very Walkable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 000223033000 | Improvements Assessment | $470,596 CAD |
| Land Assessment | $230,610 CAD | Total Assessment | $701,206 CAD |
PROPERTY TAXES
Parcel Number
000223033000
Land Assessment
$230,610 CAD
Improvements Assessment
$470,596 CAD
Total Assessment
$701,206 CAD
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598 S Jackson St
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