For Sale
$2,409,750

39 512Th AveOld Town, FL 32680

High-yield NNN retail investment. Strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership interest in a brand-new, 10,640-square-foot Dollar General Market situated in Old Town, Florida. The property boasts a 15.1-year absolute NNN lease commencing December 10, 2024, and expiring December 31, 2039, with five 5-year renewal options, each including a 10% rent increase. The lease is corporately guaranteed by Dollar General Corporation, holding an investment-grade credit rating of "BBB." This single-tenant building, constructed in 2024, sits on a 1.87-acre lot and offers 43 parking spaces. The property enjoys a prime corner location with high visibility, experiencing 4,250 cars per day. The strong demographics include a three-mile average household income of $60,959 and a ten-mile population of 20,383, exhibiting a 7.10% growth rate. The asking price of $2,409,750 reflects a 6.40% cap rate based on a net operating income (NOI) of $154,224. This is a turnkey investment with zero landlord responsibilities, making it ideal for a 1031 exchange or passive investor seeking a secure, high-return asset backed by a nationally recognized, creditworthy tenant. The property is zoned commercial and features a plus-size footprint for this type of Dollar General Market, which includes produce and fresh meats.

Highlights

  • Brand new 15-year absolute NNN lease.
  • Zero landlord responsibilities.
  • Dollar General store with produce and fresh meats.
  • 5% rent increases every five years.
  • Corner lot with 4,250 cars per day traffic count.
  • 2024 built-to-suit (BTS) building with a large footprint.

Property Details for 39 512Th Ave

Property type
Retail properties, Retail space
Square Feet
10,640 SF
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
81,457 SF
Units
1

Location Insight

City
Old Town
County
Dixie
State
Florida
Latitude
29.7084969
Longitude
-83.0183999
39 512Th Ave, Old Town, Florida

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39 512Th Ave
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