For Sale
$2,500,346

3494 Washington StChipley, FL 32428

15-Year NNN Lease, 6.35% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a brand-new, 10,640-square-foot Dollar General Market in Chipley, Florida. Boasting a 15.1-year absolute NNN lease commencing December 9, 2024, and expiring December 31, 2039, this property offers significant long-term stability. The lease includes five 5-year renewal options with a 5% rent increase every five years, ensuring consistent income growth. The tenant, Dollar General Corporation, holds a BBB credit rating and provides a corporate guarantee, minimizing risk. Located on a 1.49-acre lot at 3494 Washington St, Chipley, FL 32428, this single-story building features 45 parking spaces and benefits from a high-traffic corner location (4,019 cars per day). The property's strong demographics include a three-mile average household income of $60,505 and a ten-mile population of 15,070. This is the only Dollar General serving the community. The asking price of $2,500,346 reflects a 6.35% cap rate based on a net operating income (NOI) of $158,772. Built in 2024, this fee-simple property offers a passive investment opportunity with zero landlord responsibilities. The Dollar General Market format includes produce and fresh meats, enhancing its appeal and profitability. This investment is ideal for a 1031 exchange or passive investor seeking a secure, high-return asset.

Highlights

  • $2,500,346 Asking Price for a 10,640 SF Dollar General Market in Chipley, FL.
  • Absolute NNN Net Lease with a 15.1-year term commencing December 2024.
  • Investment-grade tenant (Dollar General) with a BBB credit rating and corporate guarantee.
  • 6.35% Cap Rate based on a $158,772 NOI.
  • 5% rent increases every 5 years, including option periods.

Property Details for 3494 Washington St

Property type
Retail properties, Retail space
Square Feet
10,640 SF
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
64,904 SF
Units
1

Location Insight

City
Chipley
County
Washington
State
Florida
Latitude
30.6347706
Longitude
-85.5873215
3494 Washington St, Chipley, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
3494 Washington St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message