For Sale
$1,141,779

5283 Highway 231Campbellton, FL 32426

Florida Retail Property, 7.25% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
115
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
5283 Highway 231, Campbellton, Florida

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5283 Highway 231
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