For Sale
$1,420,867

31285 Blue Star HwyMidway, FL 32343

High-traffic Dollar General, strong lease

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a single-tenant, 7,600 square foot Dollar General store located at 31285 Blue Star Hwy, Midway, FL 32343. Boasting a 3.75% cap rate and a strong lease with Dollar General Corporation (NYSE: DG) as guarantor, this property offers significant returns. The current lease, a Net Net lease, extends until April 30, 2030, with four five-year renewal options, ensuring long-term stability. The property sits on one acre of land and includes a 9,100 square foot building constructed in 2008. The store enjoys high foot traffic, ranking #3 out of 24 Dollar Generals within a 15-mile radius and #307 out of over 1,000 in Florida. Its prime location just off US 90 provides easy access for commuters and benefits from proximity to I-10 and a Camping World location. The property is situated in a growing area of Midway, near new home communities and commercial developments, including the Hammock Creek Commerce Park. Midway's location within the Tallahassee metropolitan area (population 390,992 in 2022) further enhances its appeal, benefiting from the presence of three major universities and numerous state agencies. The asking price is $1,420,867, with an annual rent of $74,400 and monthly parking lot maintenance costs of $338.03. Tenant responsibilities include real estate taxes, building insurance, and minor repairs (under $750), while the lessor is responsible for roof, structure, and major capital expenditures (over $750). This is a rare opportunity to acquire a well-performing asset in a thriving market.

Highlights

  • Annual rent: $74,400, including $4,056 annual parking lot maintenance.
  • Lease term: August 13, 2007 – April 30, 2030, with four 5-year renewal options.
  • Building size: 9,100 SF (7,600 SF rentable), situated on 1 acre.
  • Tenant responsibilities: Real estate taxes, building insurance, and minor repairs (under $750).
  • Landlord responsibilities: Roof, structure, and major capital expenditures (over $750).
  • Tenant: Dollar General Corporation (NYSE: DG).

Property Details for 31285 Blue Star Hwy

Property type
Retail properties, Grocery and convenience stores
Square Feet
9,100 SF
Year Built
2008
Buildings
1
Stories
1
Lot Size (sq. ft)
43,560 SF

Location Insight

City
Midway
County
Gadsden
State
Florida
Latitude
30.5019303
Longitude
-84.4496894
31285 Blue Star Hwy, Midway, Florida

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31285 Blue Star Hwy
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