For Sale
$2,666,500

164 John King RdCrestview, FL 32539

High-yield NNN retail investment

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, upgraded 10,640 square foot Dollar General store in Crestview, Florida. Located at 164 John King Rd, 32539, this single-tenant, fee-simple property boasts a 15.4-year remaining lease term (commencing February 5, 2025 and expiring March 31, 2040) with a corporate guarantee from Dollar General (NYSE: DG). The lease includes 5% rent bumps every five years and five, five-year options. The property sits on a 1.81-acre lot in a high-traffic area, benefiting from its proximity to three major Florida highways and new residential developments like DSLD Homes' Patriot Ridge. With a strong NOI of $169,320 and a 6.35% cap rate, this offering presents a compelling return on investment. The asking price is $2,666,500 ($250.61/sq ft). The property's location within a thriving community with an average household income exceeding $92,000 within a mile, and over 42,000 residents within five miles, ensures consistent customer traffic. Florida's favorable tax environment (no state income tax) further enhances the investment's attractiveness. This is a rare opportunity to acquire a high-performing asset with a blue-chip tenant in a rapidly growing market. The property is zoned commercial and was built in 2025. The 100% occupancy commenced February 4, 2025.

Highlights

  • Brand new, upgraded Dollar General construction, delivering February 2025, with 5% rent increases every 5 years.
  • Strong demographics: Over 42,000 residents within 5 miles, average household income exceeding $92,000 within 1 mile.
  • Excellent location in Crestview, FL, at the intersection of three major highways, offering convenient access to beaches and a quiet lifestyle.
  • High daily traffic due to proximity to residential areas and a major freeway.
  • Adjacent to Patriot Ridge, a new 65-home single-family residential development with homes priced between $361,000 and $410,000.
  • Florida offers no state income tax.

Property Details for 164 John King Rd

Property type
Retail properties, Retail space
Square Feet
10,640 SF
Year Built
2025
Buildings
1
Stories
1
Lot Size (sq. ft)
78,844 SF
Units
1

Location Insight

City
Crestview
County
Okaloosa
State
Florida
Latitude
30.722548646013
Longitude
-86.562874875099
164 John King Rd, Crestview, Florida

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164 John King Rd
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