881 N State Rd 21 Melrose, FL
NNN leased Family Dollar with CPI-linked increases.
Type:RETAIL
Property size:
9,440 SFLot size:
2.96 Acres- Added:
- Jul 2, 2025
- Days on Market:
- 274
- Last Refresh:
- Mar 29 at 8:28 pm
Property Features for 881 N State Rd 21
General Information
- Standard status
- Active
- Size
- 9,440 SF
- Lot size
- 2.96 Acres
- Property subtype
- RETAIL
Listing agent Princeton Douglass (813) 725-2182
Listing office Matthews Real Estate Investments Services | Tampa (813) 725-2182
Listing date Jul 2, 2025
Source Moodyscre
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 Matthews Real Estate Investments Services | Tampa
Overview
Melrose Retail Investment Opportunity
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Storefront properties
Location Insight
- Map
- Local Demand
- City
- Melrose
- County
- Putnam
- State
- Florida
- Longitude
- -82.045
- Latitude
- 29.7173
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - NNN leased Family Dollar with CPI-linked increases.
Where is this storefront property located?
The property is located at 881 N State Rd 21 Melrose, FL.
What is the asking price?
The asking price for this property is $1,311,268.
What are key features of this property?
This property features: Investment Grade Corporate Guarantee: Lease backed by Dollar Tree, Inc. (S&P: BBB, Moody’s: Baa2), a major national retailer with over 15,500 locations.; Absolute NNN Lease with CPI‑linked Increases: Corporate‑guaranteed lease with over four years remaining, six (6) five‑year extension options, and rent escalations tied to the Consumer Price Index (CPI) for inflation protection.; Stable In‑Place Cash Flow: Generates a strong and consistent Net Operating Income (NOI) of $95,067 annually.
