5866 Stewart StMilton, FL 32570
- Retail properties
- 10,030 SF
Property Details for 5866 Stewart St
- Year built
- 2009
- Construction
- STEEL FRAME
- Lot size
- 1.17 AC
- Property size (Sq ft)
- 10,030 SF
- Zone code
- C3
- Property type
- Retail properties
- Property subtype
- Outlet malls
- APN
- 34-2N-28-2470-02400-0010
- APU
- 342N282470024000010
Description
This exceptional investment opportunity presents a fee-simple ownership of a Dollar General store located at 5866 Stewart St, Milton, FL 32570, in Santa Rosa County. The 9,014 square foot property sits on a 1.41-acre lot and boasts a 7.25% cap rate, generating a net operating income (NOI) of $94,944. Built in 2009, the property benefits from a long-term net lease (NN+) with Dollar General, a credit-rated tenant with a corporate guarantee, extending until September 30, 2030 (6.2 years remaining). The lease includes three, 5-year options with a 10% rent increase every five years. The property enjoys 100% occupancy and benefits from a strong location with daily traffic counts exceeding 16,100 vehicles. The surrounding area features a robust population base, with 100,000 residents within a 10-mile radius and 50,057 within 5 miles, exhibiting an average household income of $96,550 annually. Nearby establishments include Publix, Planet Fitness, Tractor Supply, Truist Bank, Advance Auto, Winn Dixie, and King Middle School and Milton High School. The tenant also contributes an additional $300 monthly towards parking lot maintenance. This property offers a secure, high-yield investment in a prime retail location with a financially stable, essential business tenant. The property is conveniently located 5 miles south of NAS Whiting Field. Dollar General's strong financial performance and commitment to this location, evidenced by an early lease extension, make this a compelling investment opportunity.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,996,862
- 6.5%
- $1,843,257
- 7%
- $1,711,596
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,710,702
- Geo Method
- $1,796,842
-
Alternative Use
- Use
- Valuation
- Residential
- $1,554,856
- Hospitality
- $1,424,240
- Educational
- $1,184,951
- Medical
- $1,225,703
- Retail
- $1,843,257
Location Insight
- City
- Milton
- County
- Santa Rosa
- State
- Florida
- Latitude
- 30.6479
- Longitude
- -87.0443
- CBSA code
- 37860
- CBSA name
- PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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