2991 Fl-121 Morriston, FL 32668
- Retail properties
- 9,240 SF
- 1.37 lot acres
Current Use by Public Records
- Retail properties
Property Details for 2991 Fl-121
- Year built
- 2015
- Lot size
- 1.37 lot acres
- Property size
- 9,240 SF
- Property type
- Retail properties
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 9,240 square foot Family Dollar store in Morriston, Florida. Located at 2991 FL-121, Levy County, this single-tenant, net lease property boasts a strong 8.35% cap rate and a substantial net operating income (NOI) of $108,576. Built in 2015 on a 1.37-acre lot, the property features a 14.9-year lease with Family Dollar, currently having 5.9 years remaining until the initial term expires. The lease includes four 5-year renewal options and built-in rent bumps every three years, ensuring consistent income growth. The property enjoys 100% occupancy and is priced at $1,299,999, or $140.69 per square foot. This fee-simple ownership offers a secure investment in a thriving community, strategically positioned on a major roadway for optimal visibility and accessibility. The property's location near Ocala and Gainesville provides access to a larger regional market. This is a prime opportunity for investors seeking a stable, high-performing retail asset with significant long-term potential. The property is a free-standing building and the lease is corporate-guaranteed.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Morriston
- County
- Levy
- State
- Florida
- Longitude
- -82.5346
- Latitude
- 29.2897
