4710 Town Center Pky
Jacksonville, FL 32246
Moe's Southwest Grill · Retail Property For Sale

Highly Passive Absolute Triple Net Ground Lease | Zero Landlord Obligations The Subject Property features an absolute triple net ground lease (leased fee interest) with zero landlord obligations, providing investors with the most passive lease structure available. Additionally, the ground lease structure offers the ability to purchase the Property at a significant discount to replacement cost. Long Term Lease | 17.7 Years Remaining The tenant signed a twenty (20) year lease in 2016 and has approximately 17.7 years of term remaining, with four (4), five (5) year options to extend. Fixed Rental Increases Every Five (5) Years | Hedge Against Inflation The Lease features attractive rental increases of 12.90% in year 6 (Dec-2022) and 10% in years 11 & 16 of the initial term, providing long term income growth and a hedge against inflation. Rapidly Expanding Fast Casual Mexican Restaurant Concept | Strong 23-unit Franchisee Moe’s Southwest Grill is a rapidly expanding Fast Casual Mexican Restaurant concept that has grown to more than 700 stores in 43 states. The company is part of the FOCUS Brands family of food service brands which includes more than 6,000 retail locations. The Subject Property is operated and guaranteed by Welcome to Moe’s Inc., a 23-unit franchisee of Moe’s Southwest Grills in four Florida markets, including 12 in the Jacksonville MSA. Strong Store Sales | Top Tier Performance Among Active Moe’s Locations The Subject Property has posted sales in excess of $1.5M annually since its opening in 2017, which nearly places in the top quartile for active Moe’s Southwest Grill locations. This is well above the Moe’s company-wide average of $1.1M annually, demonstrating the strength of the operator and the location. Dense & Affluent Location | Highly Visible and Easily Accessible Site | Close Proximity to Major Employers & University Average Household Incomes within 1 mile of the Subject Property exceed $100,000 and within 5 miles there are 176,294 people and 76,460 households with an average household income of $77,830. Nearby major corporate employers include Florida Blue Cross / Blue Shield’s 1.35 MM SF Corporate HQ (7,000 employees in JAX), Deutsche Bank, Merrill Lynch, Comcast and Johnson & Johnson. Located 1.5 miles northeast of Moe’s is University of North Florida, home to more than 16,000 students. Dynamic, Dominant and Growing Trade Area | Extensive Nearby Development Activity Moe’s is strategically positioned in the trade area, with freeway access off the Town Center Pkwy exit from Interstate 295 (104,500 VPD), and Gate Pkwy exit off Florida Highway 202 (128,500 VPD) allowing for easy access. The Subject Property is well positioned adjacent to the 1.3 M+ SF St. Johns Town Center Super Regional Mall which features 160+ stores. Additionally, there are more than 2,500 existing/under construction or planned multi-family units within close proximity of the subject property, providing additional draw to Moe’s.