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Updated: 07.12.24 Posted: 11.04.23 Status: Sold

Summary

Price $2,365,000
Built/Renov 2023
Tenant Raymond James
Cap Rate 6.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 6,540
Lease Start 07-01-2023
#Units 3,000
Price/SF $361.62
Expiration 06-30-2033
Tenant Type Bank/Financial
NOI $141,900
R. Term 8.1
Ownership Fee Simple
Rent/SF $21.70
Increases 2.0%/1/yrs
Pop 5Mi 57,723
Lot/AC 0.83
Options 2/5yrs/2%
AHHI 5Mi $75,997

Lease Highlights

  • Brand new 2023 construction
  • Raymond James recently signed a brand new 10-year lease with 2 (5-year) options to extend
  • Lease features 2% annual rental increases throughout the initial term and FMV at the start of each option
  • Corporate guarantee by Raymond James Financial, Inc. (NYSE: RJF)

Location Description

Raymond James is strategically located on Union University Drive, providing excellent visibility just off Interstate 40, with access to 53,800 vehicles passing by daily. The property is in close proximity to several national tenants, including Target, McDonald's, PetCo, Red Lobster, Crumbl Cookies, Starbucks, Kroger, Walgreens, and more. The 5-mile trade area surrounding the location is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Raymond James Financial Services, Inc. is one of the nation’s premier investment management firms. The company has a mission to help clients achieve their financial goals and dreams through...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,408 35,743 57,144
2023 Total Population : 5,467 35,729 57,099
2023 Employed Civilian Pop : 2,614 16,518 25,916
2023 Total Businesses : 374 1,898 2,717
2023 Average Household Income : $ 92,253 $ 95,518 $ 85,757
2023 Total Consumer Spending : $ 163 M $ 1172 M $ 1725 M
2023 Median Age : 34 38 38
2023 Total Households : 2,050 14,284 23,243
2023 Pop Age 25+: Bachelor's Degree : 765 5,633 8,554
2023 Average Home Value : $ 279,003 $ 263,317 $ 244,958
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
OIL WELL RD. Foxworth Dr 2020 11,013 0.17 mi
OIL WELL RD. Foxworth Dr 2021 15,006 0.21 mi
Oil Well Road Wyndhurst Dr 2022 15,194 0.21 mi
Stonebrook Pl Oil Well Rd 2003 44,840 0.49 mi
Pleasant Plains Rd Brookies Pond Cv 2012 8,952 0.64 mi
Hwy 45 Byp 2022 47,572 0.65 mi
Pleasant Plains Extended Bridlepath Dr 2022 8,457 0.70 mi
Pleasant Plains Road Brookies Pond Cv 2022 10,779 0.71 mi
Pleasant Plains Exd Country Club Ln 2012 8,151 0.78 mi
Hwy 45 Byp Country Club Ln 2012 42,833 0.96 mi

Listing Broker

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