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Family Dollar Net Lease Investment | 7% Cap Rate

198 US Hwy 98
Eastpoint, FL 32328
PRICE : $1,850,000
CAP RATE: 7%
PROPERTY TYPE: Retail
SITE SIZE: 1.41 Acres
BUILDING SIZE: 9,180 SF
YEAR BUILT: 2019

Highlights

  • New 2019 construction, scheduled to be completed by July with store opening estimated in August
  • 10-year NN lease with six 5-year renewal options
  • Attractive 7% cap rate located in an "Opportunity Zone" *
  • Anticipated strong sales due to limited area retail options
  • Minimal Landlord responsibilities with transferable roof warranty
  • Excellent 1031 exchange with a strong credit tenant

Description

This new construction Family Dollar, located in Eastpoint, FL near Apalachicola, is estimated to open August 2019. Family Dollar chose to build a larger format ±9,180 SF building on a ±1.41 acre corner lot on Highway 98. It has the added investor tax benefit of being in an Opportunity Zone.

This 10-year NN leased property is an ideal 1031 exchange property with a strong national tenant and is offered at a 7% cap rate. It also has six 5-year renewal options, each with a 5% rent increase. The initial annual rent is $129,319.08. It is anticipated that store sales, based upon limited local retail options, coupled with the extensive vacation rental activity, will be high.

There are minimal Landlord responsibilities which include roof, structure, fire sprinkler system and the parking lot. The roof includes a transferable warranty. The Tenant is responsible for all other repairs and maintenance and fully reimburses the Landlord for insurance and taxes. This STNL investment opportunity is offered at $1,850,000.

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