Us Highway 98 Fort Meade, FL 33841
- Retail properties
- 10,640 SF
- 1.69 lot acres
Current Use by Public Records
- Retail properties
Property Details for 0 Us Highway 98
- Year built
- 2024
- Lot size
- 1.69 lot acres
- Property size
- 10,640 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 10,640-square-foot Dollar General store in Fort Meade, Florida, situated on a 1.69-acre lot with 36 parking spaces. The property boasts a 15-year absolute NNN lease commencing February 25, 2025, and expiring February 28, 2040, with five 5-year renewal options, each including a 5% rent increase. The lease is corporately guaranteed by Dollar General Corporation, holding an investment-grade "BBB" credit rating, ensuring consistent cash flow. Located on US HWY 98 E, this highly visible location sees 6,000 cars daily, benefiting from its proximity to a gas station and a church. The strong demographics include a 3-mile average household income of $64,364 and a 10-mile population of 21,870, exhibiting a significant growth rate. Built in 2024, this single-story building features upgraded architecture and is currently 100% occupied. The asking price of $2,821,417 reflects a 6.35% cap rate based on a net operating income of $179,160. The property is zoned commercial and offers a compelling return for investors seeking a passive income stream with built-in rent escalations. This is an ideal opportunity for a 1031 exchange or passive investor.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Meade
- County
- Polk
- State
- Florida
- Longitude
- -81.7349
- Latitude
- 27.7247
