For Sale
$1,299,999

2991 Fl-121 Morriston, FL 32668

Morriston, FL Retail Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional investment opportunity presents a 9,240 square foot Family Dollar store in Morriston, Florida. Located at 2991 FL-121, Levy County, this single-tenant, net lease property boasts a strong 8.35% cap rate and a substantial net operating income (NOI) of $108,576. Built in 2015 on a 1.37-acre lot, the property features a 14.9-year lease with Family Dollar, currently having 5.9 years remaining until the initial term expires. The lease includes four 5-year renewal options and built-in rent bumps every three years, ensuring consistent income growth. The property enjoys 100% occupancy and is priced at $1,299,999, or $140.69 per square foot. This fee-simple ownership offers a secure investment in a thriving community, strategically positioned on a major roadway for optimal visibility and accessibility. The property's location near Ocala and Gainesville provides access to a larger regional market. This is a prime opportunity for investors seeking a stable, high-performing retail asset with significant long-term potential. The property is a free-standing building and the lease is corporate-guaranteed.

Highlights

  • Triple Net (NNN) Lease.
  • Rent increases every three years.

Property Details for 2991 Fl-121

Property type
Retail properties, Grocery and convenience stores
Square Feet
9,240 SF
Year Built
2015
Lot Size (sq. ft)
59,677 SF

Location Insight

City
Morriston
County
Levy
State
Florida
Latitude
29.289677069421
Longitude
-82.534576351644

FAQs

What type of property is this?
Retail property - Morriston, FL Retail Opportunity
Where is the retail property located?
The property is located at 2991 Fl-121 Morriston, FL.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: Triple Net (NNN) Lease.; Rent increases every three years.;
How can I contact the broker?
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2991 Fl-121
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