BJ's Wholesale Club | 20-YR GL | 5.25% CAP | 124 Beachwalk Boulevard
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BJ's Wholesale Club | 20-YR GL | 5.25% CAP 124 Beachwalk Boulevard
103,500 SF Retail Building Saint Johns, FL 32259 $20,952,000 ($202/SF) 5.25% Cap Rate
Investment Highlights
- New construction BJ's Wholesale Club (NYSE: BJ) in tax-free, high-growth state with scheduled rent increases
- $137,134 AHHI in 3 miles with the second lowest unemployment rate in FL at 1.9%
- BJ's Wholesale Club operates 243 clubs and in 2024 saw over $3.6 billion in profit on $19.9 billion in revenue
- BJ"s rent equates to $48K/Acre or $6.28/SF and the asset is priced below replacement cost
- St. John's County was the fastest growing County in FL in 2022 and is experiencing 7% annual population growth
- Absolute Net Ground lease with 5% rent increases provides passive ownership and hedge against inflation
Executive Summary
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of this new 20 Year BJ's Wholesale ground lease in St. Johns, FL. BJ's is scheduled to open December 2024.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
103,500 SF
Building Class
B
Year Built
2024
Price
$20,952,000
Price Per SF
$202
Cap Rate
5.25%
NOI
$1,100,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
50.28 AC
Zoning
DRC-21-00017 - Retail Commercial/Community
Frontage
80 FT on Beachwalk Boulevard
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- BJ's Wholesale Club
- -
- -
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| BJ's Wholesale Club | - | - | - | - |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 023700-0167 | Improvements Assessment | $0 |
| Land Assessment | $11,436,252 | Total Assessment | $11,436,252 |
PROPERTY TAXES
Parcel Number
023700-0167
Land Assessment
$11,436,252
Improvements Assessment
$0
Total Assessment
$11,436,252
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BJ's Wholesale Club | 20-YR GL | 5.25% CAP | 124 Beachwalk Boulevard
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