9563 Old Lakeland Hwy Dade City, FL 33525
- Grocery and convenience stores
- 10,640 SF
Current Use by Public Records
- Grocery and convenience stores
Property Details for 9563 Old Lakeland Hwy
- Property size
- 10,640 SF
- Property type
- Grocery and convenience stores
Description
This exceptional investment opportunity presents the chance to acquire a brand-new, 10,640-square-foot Dollar General store located at 9563 Old Lakeland Hwy, Dade City, Florida, 33525. The property sits on a 2-acre lot and boasts upgraded brick and Hardie plank construction, a significant upgrade from the standard metal exterior. Secured by a 15-year NNN lease with Dollar General Corporation, the nation's largest discount retailer, this investment offers exceptional stability and passive income. The lease, expiring October 31, 2039, includes 5% rental escalations every five years, further enhancing the return. Dollar General holds an investment-grade credit rating of BBB/Stable from S&P Global Ratings, minimizing risk. The property's strategic location on the outskirts of Dade City capitalizes on the limited presence of national retail chains, ensuring minimal competition and strong potential for high performance. With a 6.35% cap rate and a net operating income (NOI) of $175,512, this offering presents a rare opportunity to acquire a highly passive asset backed by a top-rated national tenant. The asking price is $2,763,970, translating to $259.77 per square foot. This is a tax-free state investment with strong demographics and limited competition.
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
- Dade City
- County
- Pasco
- State
- Florida
- Longitude
- -82.1474119
- Latitude
- 28.2966057
