Gabe's | 380 Blanding Blvd
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Gabe's 380 Blanding Blvd
84,180 SF Retail Building Orange Park, FL 32073 $9,865,896 CAD ($117 CAD/SF) 6% Cap Rate
Investment Highlights
- Recent Lease Extension w/ Upcoming 10% Rent Increase
- Ranked in Top 3% Most Visited Home Furnishing Stores in the U.S.
- Favorable Zoning for Future Redevelopment
- Below Market Rent Big Box w/ New Capital Improvements
- Growing National Tenant
- Hard Corner Location Along Major Commercial Thoroughfare
Executive Summary
Over the past 12 months, this Gabe's location welcomed over 213K visitors, making it the 4th most visited furniture store in a 15-mile radius, and ranks in the Top 3% of all furniture and home furnishing stores in Florida as well as nationwide.
The Lease features 11.0 years of ?rm term remaining and bene?ts from a 10% rent bump in August 2025 and another rent increase in 2030. The lease also includes two (2), ?ve (5) year renewal options with $0.50psf rent increases at the start of each ?ve (5) year period, offering a signi?cant income boost early into ownership in conjunction with the Tenant's recent long term commitment to the site.
The Property sits at the lighted intersection of Blanding Boulevard and Loch Rane Boulevard. Blanding is the most traf?cked road in Orange Park with a daily average of 67-91K VPD and direct access to I-295. The prime retail intersection includes Publix and Lowe's anchored shopping centers with the fourth corner occupied by Orange Park High School.
The Lease features 11.0 years of ?rm term remaining and bene?ts from a 10% rent bump in August 2025 and another rent increase in 2030. The lease also includes two (2), ?ve (5) year renewal options with $0.50psf rent increases at the start of each ?ve (5) year period, offering a signi?cant income boost early into ownership in conjunction with the Tenant's recent long term commitment to the site.
The Property sits at the lighted intersection of Blanding Boulevard and Loch Rane Boulevard. Blanding is the most traf?cked road in Orange Park with a daily average of 67-91K VPD and direct access to I-295. The prime retail intersection includes Publix and Lowe's anchored shopping centers with the fourth corner occupied by Orange Park High School.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
84,180 SF
Building Class
C
Year Built/Renovated
1976/2015
Price
$9,865,896 CAD
Price Per SF
$117 CAD
Cap Rate
6%
NOI
$591,954 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.21
Land Acres
9.40 AC
Zoning
BB
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 12-04-25-020297-001-01 | Improvements Assessment | $1,818,195 CAD |
| Land Assessment | $3,843,809 CAD | Total Assessment | $5,662,005 CAD |
PROPERTY TAXES
Parcel Number
12-04-25-020297-001-01
Land Assessment
$3,843,809 CAD
Improvements Assessment
$1,818,195 CAD
Total Assessment
$5,662,005 CAD
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Northmarq
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Gabe's | 380 Blanding Blvd
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