2629 Crawfordville HwyCrawfordville, FL 32327

Property Details for 2629 Crawfordville Hwy

Year built

1996

Lot size

8.94 AC

Property size (Sq ft)

46,922 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a 46,922-square-foot Aldi grocery store located at 2629 Crawfordville Hwy, Crawfordville, FL 32327. The property sits on an 8.94-acre lot and boasts a strong 4.70% cap rate, generating a substantial net operating income (NOI) of $249,211. Built in 1996, the building is currently operating at 100% occupancy under an absolute triple-net (NNN) lease with Aldi, Inc., eliminating all landlord responsibilities. The lease commenced on December 2, 1996, and has a remaining term of 10.8 years, extending to August 31, 2035, with six 5-year renewal options. This long-term lease provides exceptional stability and predictable cash flow. The property benefits from its strategic location along Crawfordville Highway, a high-traffic area with over 17,500 vehicles per day, and is surrounded by other national retailers including Ace Hardware, AutoZone, and Walgreens. The surrounding area demonstrates strong demographics, with an average household income exceeding $105,530 within a three-mile radius and over 31,600 residents within a ten-mile radius. The property's location within the Tallahassee MSA and Florida's tax-advantaged environment further enhance its investment appeal. The recent 11-year lease extension with Aldi, Inc., and the corporate guarantee provided by Aldi, Inc., solidify this investment's long-term value and security. The asking price for this exceptional property is $5,299,744. The store facade will undergo renovations to reflect current Aldi branding in the near future. This is a rare opportunity to acquire a high-performing, net-leased asset with a prominent tenant in a thriving market.

Location Insight

City

Crawfordville

County

Wakulla

State

Florida

Latitude

30.1923

Longitude

-84.3702

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