Is Avondale Ready For A 7-Eleven?

[Jaxson]

@ Garden guy - are you referring to the old banner ads that used to be plastered across the front of the 7-Eleven stores?  I do not think that a new design even has to integrate that feature anymore, does it?

[north miami]

What if they just want to use the.existing.structure?

They could probably do that today, but not 100% sure.

Would rather see existing building location rather than a building looming right up on the street,which would alter the.....ahem.....,.open space feeling we have "seen" for all these years.
Someone has posted here that building frontage right up to the sidewalk would allow for parking in the rear.But why is parking on the parcel important when in fact we assume plenty of parking in front of front yards around the corner.As many parking spots as needed!.
Too bad Avondale Merchants,others have not managed to purchase the property for a parking facility.Last I checked,the ask was over a million.

What else could possible end there?
How about a mini park,on order of that across the street from the Florida Theatre.Emphasis on seating,mingling.
Overlay public vision lodged strong support for a Park on Fishweir at The Loop location.Any thoughts on a park at this site??

[Jaxson]

good point, north miami, about the parking issue.  i recently drove to avondale for brunch with a friend a blue fish.  because my friend was handicapped, we did not have many options for parking as all of the spaces were taken on the strip and on the adjacent side streets.  we ended up going to orsay instead.  we would have preferred blue fish, but those were the cards we were dealt on that busy sunday morning.

[Jaxson]

You can view the comment at the following url
http://jacksonville.com/business/2011-07-25/story/possibility-convenience-store-has-avondale-buzzing#comment-444315

---Text of the comment---
I agree. Move the Dollhouse there, or threaten to. Then the snobs will be
happy with a 7-11.

Source: The Florida Times-Union (btw, it wasn't me!)

LOL 

[ChriswUfGator]

Wait until the Sushi place gets to building out. (Opening across from 'Town)
That should divert the attention from 7-11 

ANOTHER sushi place? Seriously?

[Jaxson]

@ ChrisUfGator --- Ditto on that one.  How many sushi places do we really need?  Are there not other cuisines that are not on the verge of saturating our community?

[simms3]

According to my research, the site is for sale for $1.3M and includes a 2,046 SF structure built in 1964 and 0.29 AC.  Taxes are estimated to be $2.44/SF, which is average for the Shoppes (which range from $1.71/SF to $4.15/SF).  The site is for sale by owner.

Translated, the price per square foot is $635.39.  That is a little more than insane for something that will be demolished.  Price per acre of land is almost $4.5M, which is only possible in Jacksonville on this site and still seems ridiculously high.  I would imagine rents in the area are roughly $20-25/Sf and recoverables are probably around $4-5/SF.  Management fees are probably 3% of EGI or something similar.  Those rents and recoverables are not high enough to justify that price, and frankly those rents are a reflection on the sales of the area, which are higher than average for Jacksonville but still far below what most consider a high sales number.  Rents in big city shopping streets can go to $5,000/SF +, a reflection of the sales (the Apple store in Midtown Manhattan has sales per square foot of nearly $40,000, and it is a 10,000 SF store).  $4.5M per acre is closer to big city land pricing than the pricing we should see in Jacksonville.  If Jacksonville were a $4.5M an acre city, anywhere, then my father would have retired long ago (and he is still busting ass).

Even if revenue forecasts were for $600+/SF with no debt service and a nice little 3,000 SF store, why pay $1.3M for that thing?

I would try to see what salons and dry cleaners have leases coming up for renewal and add a second floor to the new development for space for dry cleaners, a salon, and perhaps a fast food joint open late for bar patrons.  45 ft height limit and a 12,500+ SF footprint are plenty to put in more space for income generation.  There is a lot that could be done with the site.  Parking should be excluded.  The price needs to come way down, even for that area.

I would personally rather see someone ambitious from the neighborhood with clout and banking relationships develop the sight and include a franchise 7-11 rather than 7-11 build some stand-alone on the site with parking in the rear.  This individual could corellate this new development with the development of 3 floor apartment buildings a block down on St. Johns Ave.  This could spur more development for the area and provide more demand for walk up dry-cleaning and convenience stores and walk-up 24 hour dining establishments.

For the love of God why aren't there any 24-hour dining establishments in the entire city except for Waffle House and Whataburger?  Whenever I come into town, like last weekend, I usually arrive late and after midnight the only option for me is Krystals...yuck!  I guess it would help to have people out and about past 9:00 p.m., but late night districts should start with areas like the Shoppes.  And Metro Diner should not be allowed to have "Diner" in its name if it is not even open for 50% of the hours in any given week.

[simms3]

http://www.evos.com/

Evos Fast Food.  Put something new and fresh for Jacksonville in there.  Or something open 24/7.

[north miami]

Simms, Your review of current asking price relative to viable value,revenue generation is outstanding.

No wonder the property is for sale by owner-professional realtors have opted out of engaging with an unrealistic seller,dead end listing and promotion efforts.
And no wonder no buyer or concrete development plans have materialized.

makes one wonder as to seller expectations..............is there a mortgage on the property,with sellers unwilling/unable to negative equity? worth asking

As to the assumption that one should seek dry cleaners,salons with leases to soon expire,what is to happen with those current rental properties when the tenants flee to the Avondale Nirvana??Such ideas are well meaning but not so perfectly thought out.

On another matter,one I may have been on top of at one time (getting bored with this stuff!!),are we to assume the Overlay allows for two story structure?
Perhaps a clear understanding of future growth envisioned in the Citizen's Overlay is in order,a savvy companion effort.
RAP voiced concerns over the accepted Overlay,yet likely quite correctly agreed in the spirit of compromise.
But what were the concerns? So much unknown,and who here can cite Overlay rule??

[tufsu1]

I don't think the people of Avondale will ever be happy.

the same could be said about many posters in this thread

[simms3]

Lake said the overlay specified a 45 ft height limit.  That would even allow for a 3 floor building.

Also, I realize that "taking" mom and pop tenants and a salon from other rental property is not very altruistic on the surface, but if I were in charge of the development of that site and could lure other tenants in the area with terms expiring in the following 12-24 months, you can bet your bottom dollar that's who I would pursue because there is not an overwhelming demand for new tenants to come in (not enough of a demand to create a wide enough pricing gap).  The new tenants that have entered the submarket are backfilling vacant space.  Turnover has increased and renewals are not appearing to be happening as much as in years past.

The ability for tenants to change locations keeps commercial properties on their toes and keeps the area competitive.  It's actually a good thing for tenants themselves if there is landlord competition, and is a good thing for the neighborhood itself because landlords would have to keep their buildings in competitive condition, not just from a pricing standpoint.

If everyone somehow colluded on keeping the status quo and letting certain landlords get certain tenants or uses, nothing would ever progress.

[avonjax]

I would rather see something else on the corner, but if done well, I guess a 7-11 would be ok. In the early 90's there was a convenience store next to Underwood. I don't remember when it closed.

[north miami]

I don't think the people of Avondale will ever be happy.

the same could be said about many posters in this thread

Yea,such quips are in fact intertwined in growth politics.

It is in fact because the area is so different.The cost of defending the neighborhood in the face of one onslaught after another,which in fact has been the cause and case for decades,the reason the area is what is is,and not what it could have been.

and now new awareness-actually something long suspected-living in Avondale could prove an often unhappy experience.

[fieldafm]

My contribution on RAP's facebook:

I wholeheartedly welcome 7-11's interest in the neighborhood with open arms. To be truly considered a great neighborhood, it is our duty to work with a small business who has the ability to fully activate the street on an abandoned and blighted surface lot. An urban walk up 7-11 store that is contextually sensitive to the unique fabric of the neighborhood will only enhance the pedestrian experience which makes the commercial corridors of the district some of the most desirable in the city.

Currently, there are a total of 14 convenience stores within the district. Clearly there is a market for such a business. In fact, one of those 14 stores was once a 7-11. Unfortunately, this now independent store does not contribute to the architectural uniqueness of the surrounding neighborhood and has become the anti-thesis of what a modern, clean 7-11 offers. This is where a unique opportunity exists.

The overlay allows for a maximum 15' front setback. Why not work with the developer to design pedestrian friendly features like this particular urban walk up 7-11-branded cafe?
http://imageshack.us/photo​/my-images/269/5493799343b​504ec24b3b.jpg/
A truly great neighborhood does not turn its back on a contributing small business. A truly great neighborhood forges partnerships such as the one this business is trying to strike with its future neighbors. Isn't it time we step up and do what is right?

[Garden guy]

I'd love to see a nice simple grocery there..it's needed i think.