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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.

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

Exclusively Listed By

  • Darpan Patel

    First Vice President Investments

    (813) 387-4812

    Email Darpan

    License(s): OH: SAL 2012000748

    Tampa

  • Dan Yozwiak

    First Vice President Investments

    (614) 360-9036

    Email Dan

    License(s): OH: SAL.2008003600

    Columbus

  • Colby Haugness

    First Vice President Investments

    (813) 387-4811

    Email Colby

    License(s): WA: 24012, OH: BRKP.2017005012, KY: 242197, MO: 2018032367, KS: 00241410, FL: BK3530505

    Tampa

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.

Exclusively Listed By

  • Darpan Patel

    First Vice President Investments

    (813) 387-4812

    Email Darpan

    License(s): OH: SAL 2012000748

    Tampa

  • Dan Yozwiak

    First Vice President Investments

    (614) 360-9036

    Email Dan

    License(s): OH: SAL.2008003600

    Columbus

  • Colby Haugness

    First Vice President Investments

    (813) 387-4811

    Email Colby

    License(s): WA: 24012, OH: BRKP.2017005012, KY: 242197, MO: 2018032367, KS: 00241410, FL: BK3530505

    Tampa

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