5787 Fl-4 Baker, FL 32531

Property Details for 5787 Fl-4

Lot size

1.40 lot acres

Property size

10,640 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 10,640-square-foot Dollar General store located at 5787 FL-4, Baker, FL 32531, within the Fort Walton Beach/Destin MSA. The property sits on a 1.4-acre lot and boasts a 14-year remaining lease term (commencing October 31, 2023, and expiring November 29, 2038) with a highly creditworthy tenant, Dollar General (NYSE: DG), a Fortune 500 company. The lease is a triple-net (NNN) agreement, meaning the tenant is responsible for all operating expenses, including taxes, insurance, and building maintenance. The property benefits from built-in rent increases, with 10% increases in each of the five, 5-year option periods. The current annual net operating income (NOI) is $147,384, resulting in a compelling 6.75% cap rate. The property's strategic location, just 10 minutes from Crestview's main retail corridor (home to Publix, Lowe's, Walmart, and more), and its proximity to the thriving Emerald Coast tourism market (7 million annual visitors) further enhance its investment appeal. Crestview's position at the junction of three major highways and its proximity to Pensacola and the Port of Pensacola contribute to its robust economic activity. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment in a rapidly growing area of Florida, a tax-free state experiencing significant population growth. The property represents a secure, long-term investment with a strong tenant and significant upside potential. The building was upgraded in 2023. The property is currently 100% occupied.

Location Insight

City

Baker

County

Okaloosa

State

Florida

Longitude

-86.6816

Latitude

30.7957