31285 Blue Star Hwy Midway, FL 32343-2440
- Retail space
- 9,100 SF
- 1.00 lot acres
Current Use by Public Records
- Dollar General / Candy Store / Convenience Store
- FedEx OnSite / Mailing Service
- Western Union / Money Transfer Service
Property Details for 31285 Blue Star Hwy
- Year built
- 2008
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.00 lot acres
- Property size
- 9,100 SF
- Property type
- Retail space
- APN
- 4-08-1N-2W-0000-00131-0500
- APU
- 4081N2W0000001310500
Description
This exceptional investment opportunity presents a single-tenant, 7,600 square foot Dollar General store located at 31285 Blue Star Hwy, Midway, FL 32343. Boasting a 3.75% cap rate and a strong lease with Dollar General Corporation (NYSE: DG) as guarantor, this property offers significant returns. The current lease, a Net Net lease, extends until April 30, 2030, with four five-year renewal options, ensuring long-term stability. The property sits on one acre of land and includes a 9,100 square foot building constructed in 2008. The store enjoys high foot traffic, ranking #3 out of 24 Dollar Generals within a 15-mile radius and #307 out of over 1,000 in Florida. Its prime location just off US 90 provides easy access for commuters and benefits from proximity to I-10 and a Camping World location. The property is situated in a growing area of Midway, near new home communities and commercial developments, including the Hammock Creek Commerce Park. Midway's location within the Tallahassee metropolitan area (population 390,992 in 2022) further enhances its appeal, benefiting from the presence of three major universities and numerous state agencies. The asking price is $1,420,867, with an annual rent of $74,400 and monthly parking lot maintenance costs of $338.03. Tenant responsibilities include real estate taxes, building insurance, and minor repairs (under $750), while the lessor is responsible for roof, structure, and major capital expenditures (over $750). This is a rare opportunity to acquire a well-performing asset in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Midway
- County
- Gadsden
- State
- Florida
- Longitude
- -84.4497
- Latitude
- 30.5019
- CBSA code
- 45220
- CBSA name
- TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA
