3494 Washington St - Convenience Store FOR SALE


Chipley, FL 32428
$2,500,346 USD
734-755-6359
3494 Washington St, Chipley, FL for Sale
$2,500,346 USD
Convenience Store - FOR SALE
1/4
null | 6.35% Cap Rate

3494 Washington St
Chipley, FL 32428


HIGHLIGHTS

  • Brand New 15 Year Absolute NNN Lease
  • Dollar General Market | Produce and Fresh Meats
  • 5% RENT INCREASES EVERY 5 YEARS!!
  • Corner Location Seeing 4,019 Cars Per Day
  • 2024 BTS Construction | Plus Size Footprint
  • The Only Dollar Store Serving the Community

OVERVIEW

Fortis Net Lease is pleased to present this brand new 10,640 SF Dollar General Market store located in Chipley, Florida - complete with upgraded architectural design. Dollar General Market stores sell produce and fresh meats and are a necessary addition to the areas they serve. The property is secured with a 15 year Absolute NNN Lease leaving zero landlord responsibilities. The lease contains 5% rent increases every 5 years including at each of the 5 (5 year) options to renew. The lease is corporately guaranteed by Dollar General Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently under construction with store opening & rent on track to start in December 2024. This Dollar General Market is highly visible as it is strategically positioned on the corner of Panama Avenue & Washington Street (Hwy 77) which sees 4,019 cars per day. The 10 mile population from the site is 15,070 while the 3 mile average household income is $60,505 per year, making this location ideal for a Dollar General. It is the only dollar store serving this community! The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of Dollar General. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant, the nation’s top small box discount retailer. List price reflects a 6.35% cap rate based on NOI of $158,772. Instate Broker of Record: Brian Brockman | Bang Realty

FOR SALE DETAILS

PRICE

$2,500,346 USD

PRICE/SF

$235 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dollar General Market

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

1.49 AC

LAND SF

64,904 SF

ZONING

C-1

APN/PARCEL ID

00000000-00-3591-0000

ASK ABOUT THIS PROPERTY

Bryan BenderFortis Net LeaseMore Info
734-755-6359

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Bryan BenderFortis Net LeaseMore Info
734-755-6359

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.