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5581 Soutel Dr 1,846 SF Retail Building Jacksonville, FL 32219 $2,910,000 ($1,576.38/SF) 5.50% Cap Rate
Investment Highlights
- Long-term 20-year absolute NNN lease with 10% rental increases every five (5) years
- Site has successful 40+ year history of operation and sales of $2.3M+, topping Popeyes AUV by a significant margin.
- Popeyes is the world’s second-largest quick-service chicken concept, with 4,700+ units, and 126 new restaurants opened in the U.S. in 2024.
- Four (4) extension periods of five (5) years each, providing a strong long-term investment opportunity.
- Absolute NNN lease requires no landlord management, including all maintenance responsibilities, ideal for both local and out-of-area investors.
- Popeyes is targeting the opening of hundreds of new locations, including a flagship store in Times Square and other locations in major cities.
Executive Summary
This opportunity features a Popeyes restaurant positioned at the signalized intersection of Soutel Drive and U.S. Route 1/U.S. Route 23/New Kings Road, a highly visible location with exposure to approximately 28,800 vehicles per day. The property benefits from strong accessibility and a well-established surrounding consumer base, making it a compelling net-leased investment within the Jacksonville market.
The asset is supported by a substantial demographic profile, serving a population of 129,419 residents within a five-mile radius. Average household income reaches $70,934 within three miles, providing a broad customer base drawn from surrounding neighborhoods, schools, and employment centers. Several nearby educational institutions, including Jean Ribault High School, William M. Raines High School, Ribault Middle School, and multiple elementary schools, contribute consistent daily traffic and area activity.
The property's location is further enhanced by proximity to major industrial and distribution employers. Southeast Toyota Distributors, with more than 4,300 employees, is located approximately five miles away, alongside significant distribution facilities operated by The Home Depot, Volkswagen, and BJ’s Wholesale Club. These employment drivers support daytime population levels and ongoing demand throughout the trade area.
From an investment perspective, the property is leased on an absolute NNN basis, with responsibility for maintenance and operating expenses transferred to the tenant, including the roof, structure, and parking lot. This lease structure minimizes landlord obligations while providing a streamlined ownership profile. Additionally, projected income growth across the one-, three-, and five-mile trade areas reflects favorable market fundamentals and supports the property's long-term investment appeal.
The asset is supported by a substantial demographic profile, serving a population of 129,419 residents within a five-mile radius. Average household income reaches $70,934 within three miles, providing a broad customer base drawn from surrounding neighborhoods, schools, and employment centers. Several nearby educational institutions, including Jean Ribault High School, William M. Raines High School, Ribault Middle School, and multiple elementary schools, contribute consistent daily traffic and area activity.
The property's location is further enhanced by proximity to major industrial and distribution employers. Southeast Toyota Distributors, with more than 4,300 employees, is located approximately five miles away, alongside significant distribution facilities operated by The Home Depot, Volkswagen, and BJ’s Wholesale Club. These employment drivers support daytime population levels and ongoing demand throughout the trade area.
From an investment perspective, the property is leased on an absolute NNN basis, with responsibility for maintenance and operating expenses transferred to the tenant, including the roof, structure, and parking lot. This lease structure minimizes landlord obligations while providing a streamlined ownership profile. Additionally, projected income growth across the one-, three-, and five-mile trade areas reflects favorable market fundamentals and supports the property's long-term investment appeal.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
1,846 SF
Building Class
C
Year Built
1981
Price
$2,910,000
Price Per SF
$1,576.38
Cap Rate
5.50%
NOI
$160,050
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.43 AC
Opportunity Zone
Yes
Zoning
CCG-2, County
Frontage
Amenities
- Bus Line
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $167,329 | |
| Land Assessment | $1,009,271 | Total Assessment | $1,176,600 |
Property Taxes
Parcel Numbers
Land Assessment
$1,009,271
Improvements Assessment
$167,329
Total Assessment
$1,176,600
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