39 512Th Ave Old Town, FL 32680
- Retail properties
- 10,640 SF
- 1.87 lot acres
Current Use by Public Records
- Dixie County recycling / Government Office
Property Details for 39 512Th Ave
- Year built
- 2024
- Lot size
- 1.87 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 interest in a brand-new, 10,640-square-foot Dollar General Market situated in Old Town, Florida. The property boasts a 15.1-year absolute NNN lease commencing December 10, 2024, and expiring December 31, 2039, with five 5-year renewal options, each including a 10% rent increase. The lease is corporately guaranteed by Dollar General Corporation, holding an investment-grade credit rating of "BBB." This single-tenant building, constructed in 2024, sits on a 1.87-acre lot and offers 43 parking spaces. The property enjoys a prime corner location with high visibility, experiencing 4,250 cars per day. The strong demographics include a three-mile average household income of $60,959 and a ten-mile population of 20,383, exhibiting a 7.10% growth rate. The asking price of $2,409,750 reflects a 6.40% cap rate based on a net operating income (NOI) of $154,224. This is a turnkey investment with zero landlord responsibilities, making it ideal for a 1031 exchange or passive investor seeking a secure, high-return asset backed by a nationally recognized, creditworthy tenant. The property is zoned commercial and features a plus-size footprint for this type of Dollar General Market, which includes produce and fresh meats.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Old Town
- County
- Dixie
- State
- Florida
- Longitude
- -83.0184
- Latitude
- 29.7085
