31285 Blue Star HwyMidway, FL 32343

Property Details for 31285 Blue Star Hwy

Year built

2008

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.00 AC

Property size (Sq ft)

9,100 SF

Property type

Retail properties

Property subtype

Retail space

APN

4-08-1N-2W-0000-00131-0500

APU

4081N2W0000001310500

Description

This exceptional investment opportunity presents a single-tenant, 7,600 square foot Dollar General store located at 31285 Blue Star Hwy, Midway, FL 32343. Boasting a 3.75% cap rate and a strong lease with Dollar General Corporation (NYSE: DG) as guarantor, this property offers significant returns. The current lease, a Net Net lease, extends until April 30, 2030, with four five-year renewal options, ensuring long-term stability. The property sits on one acre of land and includes a 9,100 square foot building constructed in 2008. The store enjoys high foot traffic, ranking #3 out of 24 Dollar Generals within a 15-mile radius and #307 out of over 1,000 in Florida. Its prime location just off US 90 provides easy access for commuters and benefits from proximity to I-10 and a Camping World location. The property is situated in a growing area of Midway, near new home communities and commercial developments, including the Hammock Creek Commerce Park. Midway's location within the Tallahassee metropolitan area (population 390,992 in 2022) further enhances its appeal, benefiting from the presence of three major universities and numerous state agencies. The asking price is $1,420,867, with an annual rent of $74,400 and monthly parking lot maintenance costs of $338.03. Tenant responsibilities include real estate taxes, building insurance, and minor repairs (under $750), while the lessor is responsible for roof, structure, and major capital expenditures (over $750). This is a rare opportunity to acquire a well-performing asset in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,834,873

  6.5%

  $1,693,729

  7%

  $1,572,748

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,630,236

  Geo Method

  $1,630,236

• Alternative Use

  Use

  Valuation

  Residential

  $1,428,724

  Hospitality

  $1,308,703

  Educational

  $1,088,826

  Medical

  $1,126,272

  Retail

  $1,693,729

Location Insight

City

Midway

County

Gadsden

State

Florida

Latitude

30.5019

Longitude

-84.4497

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

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 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 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].