For Sale
$2,003,905

2112 13Th StGainesville, FL 32608

High-yield, Net Lease Dollar General

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple, single-tenant Dollar General property located at 2112 SW 13th St, Gainesville, FL 32608. The 9,000 square foot building, constructed in 2009 on a 0.88-acre lot, boasts a strong 6.35% cap rate and a substantial net operating income (NOI) of $127,248. The property benefits from a long-term, net lease with a credit-rated, corporate-guaranteed tenant. The lease, originally commencing October 26, 2009, has a remaining term of approximately 4.9 years, followed by two 5-year renewal options with 10% rent increases each. Dollar General enjoys excellent visibility on a major commercial corridor (US Route 441), surrounded by complementary businesses, student housing, and residential communities. The property's strategic location is less than a mile from major hospitals and 1.5 miles from the University of Florida, benefiting from a large and diverse customer base. Daily traffic counts exceed 22,000 vehicles. The surrounding area boasts a strong demographic profile, with over 84,400 people within a 3-mile radius and an average household income exceeding $58,586. This property offers a compelling combination of strong tenant credit, a desirable location, and significant upside potential through lease escalations, making it an attractive investment for passive investors seeking stable, long-term income. The landlord is responsible for roof and structure maintenance

Highlights

  • Long-term lease with Dollar General, established tenant since 2009, with 5+ years remaining and two 5-year renewal options.
  • NN lease with tenant responsible for all operating expenses except roof and structure, ideal for passive investors.
  • Lease includes attractive 10% rent increases at each renewal option.
  • Investment-grade credit tenant (BBB/Baa2) with over 19,100 locations nationwide.
  • High-visibility location on US Route 441, near student housing, hospitals, and the University of Florida.
  • Proximity to University of Florida (1.5 miles), a major university with over 50,000 students.

Property Details for 2112 13Th St

Property type
Retail properties, Retail space
Square Feet
9,000 SF
Year Built
2009
Buildings
1
Stories
1
Lot Size (sq. ft)
38,333 SF
Units
1

Location Insight

City
Gainesville
County
Alachua
State
Florida
Latitude
29.6321843
Longitude
-82.3398425
2112 13Th St, Gainesville, Florida

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2112 13Th St
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