New Construction Family Dollar - Dollar Tree Net Lease Investment
1045 North Highway 79
Esto, FL 32425
| PRICE : | $2,029,000 |
|---|---|
| CAP RATE: | 5.75% |
| PROPERTY TYPE: | Retail |
| SITE SIZE: | 1.19 Acres |
| BUILDING SIZE: | 10,500 SF |
| YEAR BUILT: | 2022 |
Highlights
- • Brand new 2022 build-to-suit construction 10,500 SF Family Dollar - Dollar Tree
- • New dual branding concept is generating 20% higher stores sales
- • Corporate guaranteed 10-year NN+ lease with 6 five-year renewals and minimal landlord responsibilities
- • Limited retail and convenience competition in the area with a dry county just over the state line in AL
- • Average household income of nearly $60,000 is Family Dollar-Dollar Tree “sweet spot”
- • Located in an income tax free state
- • Bull Realty FL License #: 1026029
Description
This ±10,500 SF, new construction Family Dollar - Dollar Tree store located in Esto, FL on the Florida Panhandle is 63 miles due north of Panama City and just south of the Alabama border. It is estimated to open in July 2022. The corporate guaranteed, 10-year NN lease has six 5-year renewal options, each with a $0.50/SF rent increase. Landlord responsibilities include roof, structure, capital repairs to parking lot and liability insurance that is not reimbursed by the Tenant. Tenant responsibilities include all other maintenance, including HVAC and property taxes.
Esto, located in Holmes County, FL has a population of around 20,000. It is strategically located just over the border from Geneva County, AL, largely a “dry” county, making Esto an attractive destination for alcohol purchases. It is approximately 25 miles south of Dothan, AL and 63 miles north of Panama City, FL. The average household income of $59,774 within 5 miles makes this an ideal location given the limited retail and convenience options along with rising gas prices. Additionally, Florida has no state income tax.
