Dollar General Market
For Sale
Contact for pricing
1035 West Michigan Avenue, Pensacola, FL 32526
Built in 2023 and leased under an absolute NNN structure.
Property Size12,480 SF
Price / SF$162.61
Days on Market8
Property Features for 1035 West Michigan Avenue
General Information
Standard status
Active
Size
12,480 SF
Property subtype
Retail
Lease Type
Absolute NNN
Investment Type
Net Lease
Net Operating Income
$118,716
Building Details
Year Built
2023
Units
1
Tenancy
Single
Listing Agency:
Exclusive Realty
(248) 833-6601
Listed By:
Shelby Sagmani Sulaiman · License #MI 6501385089
Source:
Crexi
Added: Jul 29
Changed: Aug 4
Last Checked: Aug 4 at 6:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Exclusive Realty
Investment Insights
Based on property information with market context.
This 12,480-square-foot Dollar General Market property was completed in 2023 and is occupied by the Dollar General brand. The asset is subject to a long-term absolute NNN lease, establishing a defined lease structure for the property.
The store is located at 1035 West Michigan Avenue in Pensacola, Florida, with access from a major avenue serving local residents and surrounding neighborhoods. Its retail format and established branded occupancy provide a straightforward profile for investors evaluating a leased commercial property.
The store is located at 1035 West Michigan Avenue in Pensacola, Florida, with access from a major avenue serving local residents and surrounding neighborhoods. Its retail format and established branded occupancy provide a straightforward profile for investors evaluating a leased commercial property.
Key Highlights
- 12,480 SF Dollar General Market property
- Completed in 2023
- Long‑term absolute NNN lease
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $217.2k | $17.40 |
| − Vacancy | −$18.2k | −$1.46 |
| EGI | $199.0k | $15.94 |
| − OpEx | −$49.7k | −$3.99 |
| NOI | $149.2k | $11.96 |
12,480 SF · lease $17.40/SF/yr · vacancy 8.37% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.13M
$1.87M – $2.49M
NOI $149,232 @ 7.0% cap · market cap 7.35%
Second Best
Retail
$2.02M
$1.76M – $2.35M
NOI $141,051 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$3.66M
$3.20M – $4.27M
NOI $256,390 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
8,724 visits/mo
0.1 miles
Demographics for 32526, FL
43,029
Population
18,478
Households
2.3
Avg Household Size
41
Median Age
24%
College-Educated
93%
High-School Grad
58.4 sq mi
ZIP Area
737
Density / Sq Mi
$71,651
Median Household Income
$40,565
Median Earnings
$1,287
Median Rent
$230,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Built in 2023 and leased under an absolute NNN structure.
Where is this nnn property located?
The property is located at 1035 West Michigan Avenue Pensacola, FL.
What is the asking price?
The asking price for this property is $2,029,333.
What are key features of this property?
This property features: 12,480 SF Dollar General Market property; Completed in 2023; Long‑term absolute NNN lease
