881 N State Rd 21 Melrose, FL

This retail property is located on State Road 21 in Melrose, Florida, a dominant commercial thoroughfare offering high visibility and ease of access. The property is positioned near Keystone Heights and Gainesville, an area experiencing residential expansion and growing demand for essential retail services, supported by proximity to recreational lake communities. The property is currently leased to Family Dollar, operating under Dollar Tree, Inc., an S&P-rated BBB and Moody’s Baa2 investment-grade entity with over 15,500 locations nationwide. The lease is structured as an absolute NNN lease with over four years remaining and six five-year extension options. The tenant is fully responsible for all expenses, including taxes, insurance, roof, structure, and parking lot maintenance. The lease includes rent escalations tied to the Consumer Price Index (CPI). The property delivers a net operating income of $95,067 annually. The property is leased at a below-market rental rate of $10.07 per square foot, offering an appealing price point and low occupancy cost. The property has upside opportunities including negotiating a lease extension, implementing rental increases, or repositioning the property at market rents upon lease expiration. The property is approximately 9,440 square feet.