For Sale
$1,141,779

5283 Highway 231 Campbellton, FL 32426

Florida Retail Property, 7.25% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a 9,100 square foot Dollar General store located at 5283 Highway 231, Campbellton, Florida 32426. Built in 2014, this absolute NNN leased property boasts a 7.25% cap rate and a compelling $1,141,779 asking price. The lease, with 4.4 years remaining on the initial 15.1-year term, includes four, five-year renewal options with built-in rent increases. Landlord responsibilities are zero, as the tenant fully reimburses for real estate taxes and participates in Dollar General's national insurance program. Strategically positioned at a signalized intersection of Highway 231 and FL State Road 2, this location benefits from high daily traffic counts exceeding 17,000 vehicles. The property sits on a 1.14-acre lot and enjoys a competitive advantage as the only Dollar General within several miles, serving both local residents and through-traffic. The surrounding area features a strong agricultural presence and highly-rated ("A" grade) public schools. Campbellton's location, approximately one hour north of Panama City, adds to its appeal. This investment-grade property, backed by a strong tenant with an S&P "BBB" credit rating, offers a secure and profitable return. The price per square foot is $125.47, and the annual net operating income (NOI) is $82,779.

Highlights

  • Absolute NNN lease with 4.5 years remaining.
  • 2014 built-to-suit construction.
  • Four, five-year options with 10% rent increases.
  • Tenant pays all real estate taxes.
  • Dollar General's national insurance program coverage.
  • Signalized intersection of Highway 231 and FL State Road 2.

Property Details for 5283 Highway 231

Property type
Retail properties, Grocery and convenience stores
Square Feet
9,100 SF
Year Built
2014
Lot Size (sq. ft)
49,658 SF

Location Insight

City
Campbellton
County
Jackson
State
Florida
Latitude
30.9480454
Longitude
-85.4018768

FAQs

What type of property is this?
Retail property - Florida Retail Property, 7.25% Cap Rate
Where is the retail property located?
The property is located at 5283 Highway 231 Campbellton, FL.
What is the asking price?
The asking price for this property is $1,141,779.
What are key features of this property?
This property features: Absolute NNN lease with 4.5 years remaining.; 2014 built-to-suit construction.; Four, five-year options with 10% rent increases.
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.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
5283 Highway 231
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message