Discount
New Construction | 15-Yr Abs. Net Lease | Corner Lot w/ High Traffic Counts | DeFuniak Springs, FL
5650 US Hwy 90 W, DeFuniak Springs, FL 32433
Listing Price: $1,953,000
Cap Rate
5.35%
Tenant Name
Dollar General
Years Remaining On Lease
15.0
Guarantor
Corporate Guarantee
Rentable SF
10,640
Lease Type
Absolute Net
Rent Per Square Feet
$9.82
Investment Overview
Marcus Millichap is pleased to bring to market Dollar General Plus located in DeFuniak Springs, FL.
New Construction | 15-Yr Abs. Net Lease | Corner Lot w/ High Traffic Counts | DeFuniak Springs, FL
Investment Highlights
- Built-To-Suit Dollar General Plus | Store Opened February 2023 | Upgraded Larger Format Store with Expanded Grocery Offerings
- 15-Year Absolute Net (NNN) Lease | Landlord Has No Responsibilities | 10% Rent Increases at The Start of Each of The Five, Five-Year Option Periods
- Located On a Corner Lot Along Arterial Thoroughfare Seeing Over 10,000 VPD | Located in Prominent Panhandle Vacation Destination with Miramar Beach, Sandestin, Santa Rosa Beach, Seaside, and Rosemary
- DeFuniak Springs is Part of Destin MSA with a Population of Over 300,000 MSA has seen 25 Percent Population Growth Since the 2010 Census | Significant Population Growth | Population Within 5-Miles Increased by 35% since 2010 | Florida is an Income-Tax Free State
- Corporate Guarantee | Investment Grade Tenant (S&P Credit Rating: 'BBB') | Dollar General is an Essential Business | E-Commerce Proof, Recession-Proof, and Pandemic-Proof | Dollar General is the Largest Retailer in the U.S. with 19,000+ Stores - Reported in January 2023
Discount
New Construction | 15-Yr Abs. Net Lease | Corner Lot w/ High Traffic Counts | DeFuniak Springs, FL
Listing Price: $1,953,000
Cap Rate
5.35%
Tenant Name
Dollar General
Years Remaining On Lease
15.0
Guarantor
Corporate Guarantee
Rentable SF
10,640
Lease Type
Absolute Net
Rent Per Square Feet
$9.82
Investment Highlights
- Built-To-Suit Dollar General Plus | Store Opened February 2023 | Upgraded Larger Format Store with Expanded Grocery Offerings
- 15-Year Absolute Net (NNN) Lease | Landlord Has No Responsibilities | 10% Rent Increases at The Start of Each of The Five, Five-Year Option Periods
- Located On a Corner Lot Along Arterial Thoroughfare Seeing Over 10,000 VPD | Located in Prominent Panhandle Vacation Destination with Miramar Beach, Sandestin, Santa Rosa Beach, Seaside, and Rosemary
- DeFuniak Springs is Part of Destin MSA with a Population of Over 300,000 MSA has seen 25 Percent Population Growth Since the 2010 Census | Significant Population Growth | Population Within 5-Miles Increased by 35% since 2010 | Florida is an Income-Tax Free State
- Corporate Guarantee | Investment Grade Tenant (S&P Credit Rating: 'BBB') | Dollar General is an Essential Business | E-Commerce Proof, Recession-Proof, and Pandemic-Proof | Dollar General is the Largest Retailer in the U.S. with 19,000+ Stores - Reported in January 2023
Investment Overview
Marcus Millichap is pleased to bring to market Dollar General Plus located in DeFuniak Springs, FL.
