Current Use by Public Records
- Retail properties & Spaces
Property Details for 1980 Fl-81
- Year built
- 2024
- Lot size
- 4.57 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents the fee-simple ownership of a brand-new, 12,480 square-foot Dollar General Market in Westville, Florida. Located on a 4.57-acre corner lot at 1980 FL-81, this property boasts prime visibility and accessibility. The building, completed in May 2024, features upgraded brick and hardie plank construction, surpassing the standard metal exterior model. Secured by a 15-year NNN lease with Dollar General Corporation (S&P: BBB/Stable), the lease commenced May 1, 2024, and expires April 30, 2039, with five, five-year renewal options. Rent increases by 5% every five years, ensuring consistent income growth. The property generates a strong NOI of $160,560, representing a 6.35% cap rate and a price per square foot of $202.60. This is a passive investment opportunity in a tax-free state, benefiting from limited competition as the only grocery store within a 10-mile radius. The Dollar General Market concept is expanding rapidly, with over 2,700 stores nationally and plans to convert over 10,000 more in the coming years. This offering provides a secure, long-term income stream backed by an investment-grade tenant. The asking price is $2,528,503.
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
- Westville
- County
- Walton
- State
- Florida
- Longitude
- -85.9509
- Latitude
- 30.9015
