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Family Dollar Net Lease Investment | 7.2% Cap Rate

198 US Hwy 98
Eastpoint, FL 32328
PRICE : $1,796,100
CAP RATE: 7.2%
PROPERTY TYPE: Retail
SITE SIZE: 1.41 Acres
BUILDING SIZE: 9,180 SF
YEAR BUILT: 2019

Highlights

  • New construction Family Dollar, opened in August 2019
  • Under served retail corridor with anticipated high sales volumes
  • Recent price adjustment to an attractive 7.2% cap
  • Corporate guaranteed NN lease with six 5 year options and 5% increases in the option periods
  • Transferable roof warranty and tenant responsible for HVAC and grounds maintenance
  • Ideal for 1031 exchange
  • No state income tax and located in an Opportunity Zone

Description

This new construction Family Dollar, located in Eastpoint, FL on the Florida Panhandle, opened in August. Due to anticipated high sales volume, Family Dollar built a larger format 9,180 SF store on a ± 1.4-acre parcel at a corner on U.S. Highway 98. The store is also located in the heart of the 2nd largest domestic oyster farming region of the US and in a designated Opportunity Zone.

Family Dollar is a strong corporate guaranteed tenant with a 10-year lease and six 5-year renewal options with 5% increases in each option period. Current annual rent of $129,319.08 provides an attractive 7.2% cap rate based upon a recent price adjustment. Also, as a Florida investment, there is no state income tax.

Landlord responsibilities are minimal and include roof, structure and parking lot. The roof includes a transferable warranty. The tenant is responsible for HVAC, grounds care, parking lot re-stiping and all other repairs and maintenance and fully reimburses the Landlord for taxes and insurance. This net lease investment opportunity is ideal for both non-1031 and 1031 buyers looking for a solid long-term investment in an area of underserved retail demand. The property is offered at $1,796,100.

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