3494 Washington StChipley, FL 32428

Property Details for 3494 Washington St

Year built

2024

Lot size

1.49 AC

Property size (Sq ft)

10,640 SF

Property type

Other commercial real estate

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a brand-new, 10,640-square-foot Dollar General Market in Chipley, Florida. Boasting a 15.1-year absolute NNN lease commencing December 9, 2024, and expiring December 31, 2039, this property offers significant long-term stability. The lease includes five 5-year renewal options with a 5% rent increase every five years, ensuring consistent income growth. The tenant, Dollar General Corporation, holds a BBB credit rating and provides a corporate guarantee, minimizing risk. Located on a 1.49-acre lot at 3494 Washington St, Chipley, FL 32428, this single-story building features 45 parking spaces and benefits from a high-traffic corner location (4,019 cars per day). The property's strong demographics include a three-mile average household income of $60,505 and a ten-mile population of 15,070. This is the only Dollar General serving the community. The asking price of $2,500,346 reflects a 6.35% cap rate based on a net operating income (NOI) of $158,772. Built in 2024, this fee-simple property offers a passive investment opportunity with zero landlord responsibilities. The Dollar General Market format includes produce and fresh meats, enhancing its appeal and profitability. This investment is ideal for a 1031 exchange or passive investor seeking a secure, high-return asset.

Location Insight

City

Chipley

County

Washington

State

Florida

Latitude

30.6348

Longitude

-85.5873

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