For Sale
$2,500,346

3494 Washington St Chipley, FL 32428

15-Year NNN Lease, 6.35% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
136
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

FAQs

What type of property is this?
Retail property - 15-Year NNN Lease, 6.35% Cap Rate
Where is the retail property located?
The property is located at 3494 Washington St Chipley, FL.
What is the asking price?
The asking price for this property is $2,500,346.
What are key features of this property?
This property features: $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.
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.
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3494 Washington St
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