Property Details for 164 John King Rd

Year built

2025

Lot size

1.81 lot acres

Property size

10,640 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a brand-new, upgraded 10,640 square foot Dollar General store in Crestview, Florida. Located at 164 John King Rd, 32539, this single-tenant, fee-simple property boasts a 15.4-year remaining lease term (commencing February 5, 2025 and expiring March 31, 2040) with a corporate guarantee from Dollar General (NYSE: DG). The lease includes 5% rent bumps every five years and five, five-year options. The property sits on a 1.81-acre lot in a high-traffic area, benefiting from its proximity to three major Florida highways and new residential developments like DSLD Homes' Patriot Ridge. With a strong NOI of $169,320 and a 6.35% cap rate, this offering presents a compelling return on investment. The asking price is $2,666,500 ($250.61/sq ft). The property's location within a thriving community with an average household income exceeding $92,000 within a mile, and over 42,000 residents within five miles, ensures consistent customer traffic. Florida's favorable tax environment (no state income tax) further enhances the investment's attractiveness. This is a rare opportunity to acquire a high-performing asset with a blue-chip tenant in a rapidly growing market. The property is zoned commercial and was built in 2025. The 100% occupancy commenced February 4, 2025.

Location Insight

City

Crestview

County

Okaloosa

State

Florida

Longitude

-86.562874875099

Latitude

30.722548646013