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Key Details
Sold Price $2,232,233
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 7,500 sqft
Price per Sqft $297
MLS Listing ID GC437004
Sold Date 09/17/20
HOA Y/N No
Year Built 2020
Annual Tax Amount $1,253
Lot Size 0.910 Acres
Acres 0.91
Property Description
Newly Constructed Dollar General store with a new 15-year NNN lease with four (4) 5-year lease renewal options. Tenant is responsible for all expenses and maintenance at the property including taxes and insurance. Dollar General corporately guarantees the lease and is an investment grade tenant with an S&P rating of BBB. This offering represents an ideal opportunity for a 1031 exchange buyer or a "passive" investor. This passive investment offers buyers a secure investment with no landlord responsibilities and rent guaranteed by a stable, recession and e-commerce resistant tenant. This seller is a trusted Dollar General Developer with a meticulous construction and transaction process that makes these transactions extremely smooth and reliable. They have successfully delivered nearly 200 Dollar General locations over 10+ years. This Seller has negotiated special financing terms which may be extended to the buyer on this transaction, which may provide substantial cost savings and increased IRR to buyer.
Location
State FL
County Duval
Interior
Heating Central, Electric
Cooling Central Air
Exterior
Roof Type Metal
Building
Lot Description Other
Lot Size Range 1/2 to less than 1
Structure Type Metal Frame,Metal Siding
Others
Acceptable Financing Other
Listing Terms Other
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Bought with Out Of Area Firm (See Remarks)