Current Use by Public Records
- Retail properties & Spaces
Property Details for 5787 Fl-4
- Year built
- 2024
- Lot size
- 1.40 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 10,640 square foot Dollar General store in Baker, Florida, situated on a 1.4-acre lot. Built in 2024, the property boasts a 14-year remaining lease term (15-year initial lease, commencing October 31, 2024, and expiring November 29, 2038) with a corporate guarantee from Dollar General, a Fortune 500 company. The lease is an absolute NNN, meaning the tenant covers all expenses including taxes, insurance, and building maintenance. The property generates a substantial net operating income (NOI) of $147,384, resulting in a compelling 6.75% cap rate. Rent increases are structured with 10% bumps every five years throughout the five, 5-year option periods. The strategic location, just 10 minutes from Crestview's main retail corridor and within the Fort Walton Beach/Destin MSA (a region attracting 7 million tourists annually), ensures strong tenant performance and future appreciation. Crestview's position at the junction of three major highways and its proximity to the Emerald Coast further enhance the property's value. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset with a blue-chip tenant in a rapidly growing market. The property's address is 5787 FL-4, Baker, FL 32531. The asking price is $2,184,000.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Baker
- County
- Okaloosa
- State
- Florida
- Longitude
- -86.6816
- Latitude
- 30.7957
