Current Use by Public Records
- Retail properties & Spaces
Property Details for 0 Skyview Dr
- Year built
- 2024
- Lot size
- 2.10 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple ownership interest in a brand-new, 12,774-square-foot Dollar General Market located in Lakeland, Florida. The property boasts a 15.1-year absolute NNN lease commencing July 15, 2024, and expiring July 31, 2039, with a remaining term of 14.7 years. The lease includes five 5-year renewal options, each with a 5% rent increase. This provides significant long-term stability and predictable income growth. The tenant, Dollar General Corporation, holds an investment-grade credit rating of "BBB," ensuring financial strength and security. The property's strategic location on Skyview Drive, near the intersection of County Road 33A, offers high visibility and accessibility, with 8,200 and 16,200 average daily traffic counts, respectively. The site is situated in a dynamic neighborhood, close to Southeastern University and Crystal Lake, surrounded by residential areas. The strong demographics, including a 3-mile average household income of $59,651 and a 5-mile population of 117,113 with a 3.98% growth rate, further enhance the investment's appeal. The property features 40 parking spaces and sits on a 2.1-acre lot. The asking price of $3,249,071 reflects a 6.35% cap rate based on the initial net operating income (NOI) of $206,316. This Dollar General Market, built in 2024, offers a compelling investment opportunity for those seeking a passive income stream with significant long-term potential. The property is zoned commercial and has one story.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lakeland
- County
- Polk
- State
- Florida
- Longitude
- -81.8994
- Latitude
- 28.0261
