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32324715
32324713

10448 Atlantic Avenue, Jacksonville, FL 32505 For Sale

PG
GA 442699
Ackerman & Co
Listed by Ackerman & Co
$2,400,000
73 days on market
Updated 69 days ago

Magic Wheels & Tires - NNN Investment Sale

Details
Property Type Retail
Sub Type Auto Shop
Square Footage 8,760
NOI $88,740
Tenancy Single
Brand/Tenant Magic Wheels & Tires
Lease Type NNN
Lease Term 5
Lease Expiration 12/31/2030
Rent Bumps Yes
Lease Options Two 5-year options
Year Built 1971
Acreage 0.910
Investment Type Sale/Leaseback
Lease Commencement 12/31/2025
Ground Lease No

10448 Atlantic Avenue, Jacksonville, FL 32505

Marketing description

Ackerman Retail is pleased to present the opportunity to acquire a 5-year NNN leased investment occupied by Magic Wheels & Tires, strategically located at 10448 Atlantic Blvd in Jacksonville, FL. This property offers a secure and attractive investment anchored by a family owned company with locations throughout the Southeast. Situated along Atlantic Blvd, the property benefits from over 49,500 AADT. The area benefits from county government buildings and local and national restaurants

Jacksonville has firmly established itself as one of America’s fastest-growing major cities. The city crossed the one-million population threshold, reaching 1,009,833 residents, and ranked as the 10th most populous city in the country according to the U.S. Census Bureau’s 2024 estimates. The city’s economy employs approximately 475,000 workers, with the largest sectors being health care and social assistance, retail trade, and finance and insurance. More than 150 corporate, regional, and divisional headquarters now operate in the Jacksonville region, drawn by a favorable business climate, relatively affordable housing, and strong logistical infrastructure. The state of Florida’s tax advantages have attracted individuals and businesses that benefit from competetive corporate tax rate and lack of a personal income tax.  

Investment highlights

  • Long-term Security - 5-year term with two 5-year options
  • Proven Regional Operator - Family owned business with 10 locations in 6 states
  • Prime Location - Benefits from strong residential neighborhood surrounding the site
  • High Visibility - 49,500 AADT on Fairfield Dr
  • Large Military Presence - Naval Air Station Jacksonville employs over 23,000 people
  • Business-Friendly Environment - Over 150 National, Regional, and Local company headquarters
  • Growing Population - Over 220,000 residents within 5 miles

Listing Contacts

PG
GA 442699
Ackerman & Co
Listed by Ackerman & Co

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$88,740.00
$7,395.00/mo

Valuation Metrics

0
DSCR
3.7%
Cap Rate
3.7%
ROI

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