For Sale
$2,763,970

9563 Old Lakeland HwyDade City, FL 33525

High-Yield Retail Investment in Florida

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents the chance to acquire a brand-new, 10,640-square-foot Dollar General store located at 9563 Old Lakeland Hwy, Dade City, Florida, 33525. The property sits on a 2-acre lot and boasts upgraded brick and Hardie plank construction, a significant upgrade from the standard metal exterior. Secured by a 15-year NNN lease with Dollar General Corporation, the nation's largest discount retailer, this investment offers exceptional stability and passive income. The lease, expiring October 31, 2039, includes 5% rental escalations every five years, further enhancing the return. Dollar General holds an investment-grade credit rating of BBB/Stable from S&P Global Ratings, minimizing risk. The property's strategic location on the outskirts of Dade City capitalizes on the limited presence of national retail chains, ensuring minimal competition and strong potential for high performance. With a 6.35% cap rate and a net operating income (NOI) of $175,512, this offering presents a rare opportunity to acquire a highly passive asset backed by a top-rated national tenant. The asking price is $2,763,970, translating to $259.77 per square foot. This is a tax-free state investment with strong demographics and limited competition.

Highlights

  • Long-Term Lease with Favorable Rental Increases.
  • Strong Tenant Demographics.
  • Investment-Grade Corporate Guarantee (S&P: BBB/Stable).
  • Brand-New Build-to-Suit Construction.
  • Tax-Free State Location.
  • Passive NNN Lease Structure.

Property Details for 9563 Old Lakeland Hwy

Property type
Retail properties, Grocery and convenience stores
Square Feet
10,640 SF

Location Insight

City
Dade City
County
Pasco
State
Florida
Latitude
28.2966057
Longitude
-82.1474119
9563 Old Lakeland Hwy, Dade City, Florida

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9563 Old Lakeland Hwy
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